The Marina Insurance Company has divided the implementation activities for a new indexed insurance product into Day 1 and Day 2 activities. Day 2 functionality refers to administrative and systems processes that Marina has determined must be in place and functioning before the product can be launched policy filing activities for the product and registration of the product with the Securities and Exchange Commission (SEC) processes that are necessary for Marina to service and administer the product, but which can be implemented after the product is introduced using product modeling to test the product design assumptions to ensure that the design can produce sound financial results