The next big thing in mortality analysis

Richards Consulting is pleased to announce the launch of Longevitas, the result of a year-long joint development programme with CAST, the specialist IT development house and Oracle database experts.

Longevitas applies survival models to the analysis of annuitant and pensioner mortality experience. Survival models are much more powerful than the generalised linear models (GLMs) which have hitherto been widely used. Previously, only offices with over 100,000 lives could benefit from using GLMs to analyse annuitant mortality. Longevitas brings the critical threshold down to below 20,000 lives, assuming there is several years' of experience. By making much more efficient use of your experience data, Longevitas gives you greater insight into mortality differentials for pricing and reserving.

Longevitas takes a simple extract from your payments system and prepares your data for modelling in minutes. A crucial benefit is the deduplication stage, i.e. matching up annuities to the same person: Longevitas will do in half an hour what would otherwise take several days of work.

Longevitas also features powerful optimization techniques to simplify your models without sacrificing goodness of fit. The factor-level optimizer will search thousands of possible combinations and report back the optimal choice to you when finished.

Unusually for an analysis package, Longevitas also offers the facility to do projections of mortality based on patterns and trends within your own data. Where the data supports it, these projections can be separate for males and females, or even separate for different socio-economic groups (Longevitas does in-line socio-economic profiling based on postcode). Longevitas can apply Age-Period-Cohort (APC) models to your data for the projection of cohort effects observed in your own portfolio.

Longevitas does not require the installation of any new software on your computers: if you have a web browser (Internet Explorer, Firefox, etc), then you are already set up to use Longevitas. If you would like more details, please contact us, download the brochure or visit the web demo page.