Is there a glossary? So many abbreviations and new terminology ...
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The most important terms that we use are:
- Business Logic: Rules, algorithms and processes which are insurance specific
- Iteration: One possible realization in a stochastic context; one specific, actual realization in a deterministic context
- Model: A Model is a collection of business logic which is executable if all required inputs are provided, e.g. a Solvency II Internal Model. A model may consist of several models (also referred to as “module”) and an aggregation model
- Parameterization: A set of input data for a model
- Period: A projection step; i.e. a time interval, such as a business year, or a quarter or a completely custom defined interval
- PillarOne: The brand name of the open source actuarial software suite
- Result Template: Defines which data and at which granularity needs to be collected during simulation run
- Result: The data which has been collected and stored on the database by applying a Result Template during a simulation
- RiskAnalytics: This is the short name for the modeling environment PillarOne.RiskAnalytics; one application in the PillarOne software suite
- Simulation: Executing a model for m iterations and n periods with a specific parameterization, collecting results as described in a result template
- Please refer to the documentation for more details and other less used terms.
