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Product Configuration
and AACE

ADVANCED PRODUCT CONFIGURATION COURSES

Intended Audience

The "Advanced Product Configuration" courses are intended for resources who have taken the introductory ALIP Product Configuration course and desire a deeper understanding of how a particular product line is configured within the platform. Participants of these courses are typically actuaries or technical business analysts responsible for setting up life and annuity products in ALIP.

Completion of the introductory Product Configuration course is a prerequisite.

Cost and Logistics

  • Cost: $5,000 per participant (Travel and accommodation are not included). The “Deep Dive on Miscellaneous Topics” session is included with the selection of a product line course.

  • Location: The Accenture Florham Park Office, 500 Campus Drive, Florham Park, NJ 07932 | Phone: +1 973 301 1000

  • Each course will be limited to 12 participants to ensure quality and individual attention. A minimum of four participants is required to confirm the class.

  • Note: Participants will be required to bring their own laptop to the course.

ABOUT THE COURSES

Four advanced courses are available including three product lines of business, and a deep dive session on miscellaneous topics applicable to all lines of business:


Traditional Life Products (Term and Whole Life)
2-day course

This course will cover the major components required to configure Term or Whole Life products within the platform. The following subjects will be covered:

  • Product Introduction (Types, Structure, Processes, etc.)

  • Attributes

  • Dividend Options

  • Premiums – Enhanced Features

  • Benefits – Life Benefit, Riders

  • Benefits – Cash Value

  • Benefits – Loan, PUA Rider

  • Dividends

  • Lapsation, Reinstatement

  • Customizable Error Messages

  • Nonforfeiture (NFO)

  • Transactions


Non-Traditional Life Products (UL, VUL, EIUL, Fixed Premium UL)
2-day course

This course will cover the major components required to configure Universal Life (Fixed, Variable and EI) and Fixed Premium UL (Fixed, Variable and EI) products within the platform. The following subjects will be covered:

  • Product Introduction (Types, Structure, Processes, etc.)

  • Attributes

  • Benefits – Base and Riders

  • Annual Charges and Periodic Charges

  • Loans (Standard and Configurable)

  • Surrender Charges

  • Transaction Charges

  • Interest Rates

  • Equity Index Adjustments

  • Premiums, Lapsation and Reinstatement

  • Coverage Segments

  • Required Premium

  • Product Rate Tables

  • Customizable Error Messages

  • Transactions


Annuity Products Course (Deferred and Immediate)
2-day course

This course will cover the major components required to configure Deferred and Immediate Annuity products within the platform. The following subjects will be covered:

  • Product Introduction (Types, Structure, Processes, etc.)

  • Attributes

  • Annuity Payment Options

  • Liquidity and COLA Adjustments/span>

  • Annuity Death Benefits

  • Annual and Periodic Charges

  • Surrender Charges

  • Transaction Charges

  • Interest Rates

  • Market Value Adjustment and Equity Index

  • Guaranteed Living Benefits

  • Lapsation Rules

  • Product Rate Tables

  • Customizable Error Messages

  • Transactions


Deep Dive on Miscellaneous Topics
1-day course

This course will cover a set of miscellaneous topics that are part of product configuration but not necessarily specific to one product line. The session is paired with your selected product line course and covers the following topics:

  • Fund Management

  • Accounting

  • Product Testing Workbench

  • Data Elements and XML Binding

  • Systems Tables

COURSE STRUCTURE

These courses will be conducted in a classroom setting and are limited to 12 participants. A PowerPoint will be used to drive the training. The courses will consist of 8-10 subjects for each topic (outlined above).

Each subject will have:

  • An introduction outlining a set of objectives

  • Interactive instruction

  • Hands-on activities

  • Conclusion review

  • Instructor Checkpoint—to ensure successful knowledge transfer of the covered material.

  • Final Test

Each student should bring a laptop with them to access a site provided by the instructor. This site is where the hands-on activities will be completed.

Six hours of training is the target for presentation and activities for each full day of the course. The extra time will allow for breaks and lunch as well as any additional questions that come up during the course.

HOTEL RECOMMENDATIONS

Wyndham Hamilton Park Hotel & Conference Center*
Address: 175 Park Ave, Florham Park, NJ 07932
Phone: 973-377-2424 | Fax: 973-377-6108
½ mile from Accenture FPO

Hyatt Summerfield Suites Morristown*
Address: 194 Park Avenue, Morristown, NJ 07960
Phone: 973-971-0008 | Fax: 971-971-0013
½ mile from Accenture FPO

The Madison Hotel*
Address: 1 Convent Road and Rt. 24, Morristown, NJ 07960
Phone: 973-285-1800 | Fax: 973-540-8566
1 mile from Accenture FPO

The Westin Governor Morris*
Address: 2 Whippany Road, Morristown, NJ 07960
Phone: 973-539-7300 | Fax: 973-984-1036
2 miles from Accenture FPO

Hanover Marriott
Address: 1401 Route 10 East, Whippany, NJ 07981
Phone: 973-538-8811 | Fax: 973-538-0291
4 miles from Accenture FPO



(*Preferred Vendors - Special Accenture Rates)


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