Users can learn how to effectively use the product and become productive in a short time.

Mo.net has features much closer to what users of Microsoft Excel VBA or Visual Studio .NET will be familiar with. Examples include the use of Visual Basic, the Visual Basic compiler, and the Windows debugger. This allows the user to become productive very quickly by leveraging their existing knowledge.

Mo.net does not have the legacy issues of some competitor products which were originally developed 20 years ago and haven’t kept pace with new technology, new modelling techniques, or changes in the actuarial market during that period.

A modular approach can be adopted in Mo.net, breaking a problem down into models that can be run on a stand-alone basis, and also interact with other models. This is a fundamental advantage when dealing with complex modelling tasks. Mo.net’s approach makes it straightforward to reuse models for a variety of different work. For example, when modelling cash flow, premium, commission, and expenses, all models can talk to each other dynamically or be run independently.

Models compile almost instantly. Furthermore the user is presented with much more useful information related to any problems encountered, making it easier to identify and fix any such problems. Together these reduce development time dramatically.

Mo.net makes it very easy to build bespoke solutions which are easy to manage, and run more efficiently, because they don’t contain superfluous logic. This contrasts with competitors offering libraries of functions covering a number of eventualities most users never require.

Mo.net is suitable for a much wider range of problems, from spreadsheet type work to full blown valuation or ALM systems.

Mo.net has the ability to write group projection code that tailors the runs to the user’s requirements. For example, Solvency II or ICA projections can be run with automated code.

Mo.net is stable. Users are often surprised that mo.net does not crash which is seen as a problem with other systems.

Mo.net is an order of magnitude faster than Excel when running large numbers of records through VB code. As an example we converted a client’s Excel workbook into Mo.net that was used to place a value on around 10,000 annuity contracts. Within Excel it took around 5-6 hours to run but in mo.net it took just 40 seconds!

The code you write in Excel cells is often hard to understand. With Mo.net it is very easy to see directly what each function is referring to. Mo.net makes it much easier to analyse dependencies between functions.

Formulae in Excel are easily corrupted – they are not always copied down correctly so it is easy to overwrite one cell without that change flowing through to other relevant areas of the workbook. With mo.net you simply write the code for each constant or column function once.

Debugging facilities in mo.net are better – you get helpful error messages. Whilst there is some debugging capability in Excel, it is not as extensive.

Ranges in Excel, e.g. when used as tables, are very hard to see. In mo.net you create named ranges but can easily ‘see through’ to the actual table, if needed.

Within Excel VB, you often have to write significant code in order to output results to the right section of the workbook. This in itself is very time-consuming, but is made even worse when all you want to do is add an extra row or column as you then have to go through the VB code in Excel and change the relevant index values accordingly. With mo.net, however, adding an extra column function is very easy to do and you are not troubled at all by the output issues that you have with Excel.

With mo.net as a platform, Partners has developed the first actuarial software tailored specifically for Takaful business. Mo.net has been used in the UK by a number of companies to deal with the increased computational complexities required by Solvency II. Drawing from this experience, and with the ever changing regulatory requirements happening in the Takaful industry, Partners has put together a model that can be used to perform an extensive range of actuarial work. The model’s functionalities include:

Why choose mo.net Partners Takaful Model?

Apart from the models built in mo.net, Partners has also developed tools using Microsoft Excel VBA to support work on mo.net models. This includes tools for the preparation of data to be fed into the models, the Data Checking Tools , the extraction of mo.net results to fill up regulatory forms or production of reports, profit and loss accounts as well as balance sheets for internal usage.

The idea behind the creation of these tools?

• Business processes could be automated to help ease the reporting burden.
• Minimize error in manual work processes.
• Actuarial resources can be managed more efficiently as less time is allocated for manual work.
• The Data Checking Tool can also be used on its own as a data management system to ensure data cleanliness, accuracy and completeness.

Partners has a dedicated team of mo.net consultants who will be coding clients’ products into mo.net, maintaining the model to cater for changes in business model, regulatory or reporting requirements as well as providing trainings. Training is especially helpful at initial setup to help clients become comfortable with the mo.net user interface and the model codes. Training is also available throughout the licensing period if necessary.

Partners has also developed actuarial models using the mo.net software to cater for conventional life insurance. Financial modelling is increasingly complex, not least driven by recent statutory requirements and companies’ own internal stress tests. Being developed fairly recently on the latest IT platform with no legacy issues, mo.net has its own advantages over other software in the market. Coupled with Partners’ extensive experience in insurance consulting, the actuarial model is set to be one of the best in the market.

Although mo.net is used extensively in Europe by the likes of AEGON UK, Barnett Waddingham LLP, Fortis UK (Now Ageas Protect UK), GenRe and KPMG to name a few, it is fairly new and is just being introduced to insurers in this region. In the course of Partners’ consulting engagements, mo.net has been used for the following types of work:

• Appraisal Valuation – Partners has used the model on an appraisal assignment for a conventional life insurer. The model was used to calculate reserves on a participating annuity product and projection of new business for one of the insurer’s main products under various sensitivity test assumptions.
• Gross premium and bonus reserve valuation – This was done for an insurer outside of Malaysia. Aside from the valuation work proper, the project included solvency projection, sensitivity testing and IFRS 4 compliance related work.
• Audit work – Partners has performed checks on a Malaysian life insurer’s GPV and RBC calculations and cash flow outputs produced by a competitor’s software.

With mo.net, a project’s lead time can be significantly shortened without the need to allocate additional resources to the project.

Apart from the models built in mo.net, Partners has also developed tools using Microsoft Excel VBA to support work on mo.net models. This includes tools for the preparation of data to be fed into the models, the Data Checking Tools , the extraction of mo.net results to fill up regulatory forms or production of reports, profit and loss accounts as well as balance sheets for internal usage.