Club Vita, an international leader in longevity data analytics, has launched a German calibration of its popular address-based longevity model, VitaCurves, further expanding its international footprint and supporting growing pension risk transfer market in Germany.
The launch marks another milestone in Club Vita's international expansion and extends suite of address-based mortality models, which already provides mortality insights in UK, United States, Canada and Netherlands. The German VitaCurvesDEU model is already being used by leading insurer, helping provide more granular understanding of longevity risk across pension and insurance portfolios.
VitaCurves uses granular location-based and socio-economic data to identify differences in mortality patterns between sub-populations, enabling insurers, pension funds and other stakeholders to develop more accurate longevity assumptions and risk assessments. It also offers convenient way of anonymizing pension records without comprising insightfulness of underlying records for measuring longevity risk.
Steven Baxter, Chief Data Scientist at Club Vita, said: "Where people live can tell us great deal about their likely health and longevity outcomes. People living in same neighbourhood often share similar characteristics, lifestyles and levels of affluence, all of which can influence mortality rates. Walk just few streets in many towns and cities and those characteristics can change significantly, leading to measurable differences in life expectancy. Our experience across multiple countries has shown address and affluence-based measures provide powerful insights into longevity risk. Launch of VitaCurvesDEU demonstrates how this approach can be successfully applied across different international markets, giving insurers and pension providers richer understanding of populations they serve."
Germany is increasingly attracting attention as emerging market for pension risk transfer activity, with insurers and pension stakeholders seeking innovative ways to understand and manage longevity risk as market evolves.
Natalie Gleed, Head of Business Development at Club Vita added: "Over last decade, German companies have started to transfer their defined benefit pension obligations for former employees, following in footsteps of other countries. We expect this transaction flow to grow over coming years as corporations continue to explore ways of managing pension obligations and balance sheet risk. Having robust, locally calibrated longevity model is essential as market grows. VitaCurvesDEU provides insurers with deeper insights into mortality variation across portfolios and supports more informed decision-making as pension risk transfer activity develops."
The launch reinforces Club Vita's commitment to helping clients make better decisions through data-driven longevity insights. By combining local demographic information with Club Vita's international expertise, VitaCurvesDEU provides powerful new tool for understanding mortality patterns and supporting effective risk management.
About Club Vita
Club Vita, an independent longevity data analytics company, facilitates the accumulation and pooling of data underlying the longevity patterns of retirees with annuity benefits. We work with workplace defined benefit pension funds and their advisors around the globe helping them understand emerging longevity patterns, driving more informed decisions and best-practice risk-management. We also support (re)insurers and asset managers with efficient, tech-driven solutions for managing longevity risk. Our international community includes over 500 pension funds, 10 advisory firms and 40 (re)insurers.
