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var SCENARIOS = [
{ icon: '\uD83D\uDE97uDC94',
text: 'AXA GermanyFrance motorwhole-of-life insuranceportfolio: a new winterlongevity datastudy suggestsshows totalpolicyholders claims over the remaining coverage period willare beliving <strong>2\u20AC4.5Mu00A0years instead of \u20AC5Mlonger</strong> than assumed \u2014 aexpected favourabledeath changeclaims ofover the remaining coverage period fall by \u20AC500,000u20AC12M.',
answer: 'csm',
correctHead: '\u2705 Correct \u2014 adjusts the CSM.',
correctBody: 'This change relates to claimsmortality expected over the <em>remaining</em> coverage period \u2014 service the insurer has <strong>not yet delivered</strong>. Because it concerns future service, the \u20AC500,000u20AC12M favourable change increases the CSM, and will be released as profit gradually as coverage continues.',
wrongHead: '\u2717 Not quite \u2014 this one adjusts the CSM.',
wrongBody: 'Ask the key question: has the service already been provided? No \u2014 thisthese changeare relates todeath claims expected over<em>in the <em>remainingfuture</em>, coverageover the remaining life of the periodpolicies. Because it concerns future service, the \u20AC500,000u20AC12M favourable change increases the CSM rather than appearing in P&L immediately.' },
{ icon: '\uD83D\uDE97uDCB0',
text: 'AXA GermanyBelgium motorunit-linked insurancesavings contracts: revised data shows expectedpolicyholder claimslapse rates will <strong>rise by \u20AC500,00015%</strong> over the remaining coveragecontract periodterm, reducing expected (future claims,fee notincome yetby incurred)\u20AC8M.',
answer: 'csm',
correctHead: '\u2705 Correct \u2014 adjusts the CSM.',
correctBody: 'Unfavourable changes about future service are absorbed by the CSM, just like favourable ones. The CSM decreases by \u20AC500,000u20AC8M because fewer policyholders will stay to generate fees. The CSM acts as a buffer in both directions \u2014 as long as it stays at or above zero.',
wrongHead: '\u2717 Not quite \u2014 this one adjusts the CSM.',
wrongBody: 'The change relates to claimslapses that have <em>not yet been incurredhappened</em> \u2014 it\u2019s about future service. The fees lost are fees the insurer has not yet earned. Unfavourable changes about the future are absorbed by the CSM (decreasing it by \u20AC500,000u20AC8M), just as favourable ones increase it. The key: the service hasn\u2019t been provided yet.' },
{ icon: '\u26C8uD83C\uFE0FuDFE5',
text: 'AAXA severeGermany hailstormgroup strikesdisability Spainportfolio: a large employer reports a <strong>duringcluster theof current40 reportingnew perioddisability claims</strong>. Theduring insurerthe mustcurrent increasereporting itsquarter, estimateall of claimsarising forfrom damagea thatfactory hasclosure alreadythis occurredyear.',
answer: 'pl',
correctHead: '\u2705 Correct \u2014 hits P&L directly.',
correctBody: 'The insurer was onproviding riskdisability coverage when thethese stormclaims happenedwere incurred \u2014 the service (providing coverage during that period) has <strong>already been delivered</strong> for this period. Since this relates to current service, the full amount goes straight to insurance service expenses in the income statement. The CSM cannot absorb it.',
wrongHead: '\u2717 Not quite \u2014 this one hits P&L directly.',
wrongBody: 'Ask the key question: has the service already been provided? Yes \u2014 the insurerdisabilities wasoccurred onduring riskthe whencurrent quarter while the storminsurer struckwas on risk. This is current-period service, so the increasecost goes straight to insurance service expenses. The CSM only absorbs changes about <em>future</em> service.' },
{ icon: '\uD83D\uDD27uDCC5',
text: 'AAXA claimSwitzerland fromindividual annuity book: a <strong>prior -year reserve for an annuitant who died in 2023</strong> is re-estimated upward because repairfinal costsmedical turnedand outestate tocosts bewere higher than initially thoughtprovisioned.',
answer: 'pl',
correctHead: '\u2705 Correct \u2014 hits P&L directly.',
correctBody: 'This relates to <strong>past service</strong> \u2014 the claimannuitant event already happeneddied in a prior period and the claim event is long settled. Any re-estimate of an already-incurred claim bypasses the CSM entirely and flows directly into insurance service expenses. The CSM only represents profit on service <em>still to come</em>.',
wrongHead: '\u2717 Not quite \u2014 this one hits P&L directly.',
wrongBody: 'The claimannuitant was incurreddied in a prior year2023 \u2014 the service has long since been provided. Re-estimates of already-incurred claims relate to past service and go straight to the income statement. Remember: the CSM represents profit on service <em>still to come</em>, not service already delivered.' },
{ icon: '\uD83CuD83E\uDF0AuDE7A',
text: 'Brittany,AXA France:Japan acritical Januaryillness stormportfolio: damagesfollowing 200a roofs.screening Some homeowners don\u2019t report until Marchcampaign, but the insurer estimates the <strong>full200 costcancer ofdiagnoses incurredoccurred claimsduring including IBNRH1</strong> but won\u2019t be reported until H2. The full IBNR provision is booked.',
answer: 'pl',
correctHead: '\u2705 Correct \u2014 hits P&L directly.',
correctBody: 'The claimsdiagnoses are <strong>incurred</strong> in JanuaryH1, even if not yet reported. Once incurred, the liability relates to pastcurrent service \u2014 the insurer was onproviding riskcritical duringillness cover when the stormdiseases arose. Any estimates or re-estimates of these claims go straight to the income statement. IBNR doesn\u2019t change this: incurred means the service has been provided.',
wrongHead: '\u2717 Not quite \u2014 this one hits P&L directly.',
wrongBody: 'The stormcancers alreadywere diagnosed during happenedH1 \u2014 those 200 roofs were damaged while the insurer was on risk when they occurred. Even though somethe claims are IBNR (incurred but not yet reported), they are still <em>incurred</em>, meaning the service has been provided. All incurred claim estimates bypass the CSM and go to P&L.' },
{ icon: '\uD83D\uDE97uDC94',
text: 'AXA GermanyFrance motorwhole-of-life insuranceportfolio: a pandemic scenario causes expected mortality claims to <strong>rise so dramaticallysharply that the <strong>CSM would go below zero</strong>. The change relates entirely to future service.',
answer: 'both',
correctHead: '\u2705 Correct \u2014 but there\u2019s a twist.',
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