No Match Found
Pension funds and life insurance companies make critical business decisions about how much to reserve, which assets to hold and what price to charge to its customers based on historical analysis of its insured population. While pension funds and insurers have complex models to determine how to price and value risk, these models are fundamentally based on a view of future life expectancy of its population that often assumes the profile of their members life expectancy is no different from the average expectancies of a country’s population.
In reality, each pension fund has its own population with its own unique social, economic and individual characteristics. Without consideration for these features, pension funds run the risk of making the wrong decisions about which assets to invest in and ultimately might not have enough capital to cover members benefits.
PwC has developed an Experience Analysis tool that allows pension funds and insurance companies to:
Our Experience Analysis solution combines the latest visualisation software and propriety actuarial algorithms to quantify the impact of key factors on your members benefits. The solution visualises how the experience will evolve and where you have different features from the market. You can explore how the business will develop in the future and what strategies you might want to employ.
“Our approach, with its frequent monitoring, can react to the changing demographics of an insured population. With greater visibility to the drivers and the data, the solution gives you more confidence in your assumptions and trust in the decisions you have made.”
Our software, combined with PwC’s market experience, provides you with the confidence to trust your business assumptions and know that they are reliable and reflect the underlying data. Benefits include:
Other features allow you to evaluate reinsurance rates and optimise your reinsurance strategies. These features and results of the findings are provided through live presentations by our expert actuaries using a real time reporting dashboard that can benchmark your insured portfolio against other market participants.
We would be happy to discuss the exact scope of an Experience Analysis directly with you.