Longevity assumptions will be integrated within WinTech’s pension valuation software
NEW YORK--(BUSINESS WIRE)--Club Vita, the international leader in longevity analytics, today announced an integration partnership with WinTech, a leader in retirement valuation and administration software. The partnership will integrate Club Vita’s longevity assumptions within ProVal, WinTech’s flagship defined benefit valuation software.
ProVal is used worldwide by pension and insurance actuaries and investment professionals for funding and accounting valuations, asset / liability studies, projections, PRT pricing, and a host of other modeling needs. The partnership enables ProVal’s users to seamlessly use Club Vita’s personalized suite of survival tables when measuring a liability or performing a projection.
Douglas Anderson, Founder of Club Vita, notes “ZIP codes are the real game changer. Our research in UK, Canada and US has revealed similar patterns of longevity variation between neighboring communities. By combining Club Vita’s VitaCurves system with WinTech’s ProVal, actuaries can now confidently and conveniently value plans with diverse demographic characteristics. Because historical experience data is not required, longevity assumptions can be tailored for even the smallest plans, for different sections within a plan or for partial annuity buy-outs.”
“This integration supports our vision to be the gold standard calculation engine for the pension actuarial community,” observed Mark Tillman, President, WinTech. “We are delighted to be able to bring more robust analytics to our clients, driving more informed decisions, and ultimately, securing better outcomes for plan members.”
About Club Vita
Club Vita is a longevity data analytics company, which facilitates the pooling and statistical analysis of demographic data from defined benefit (DB) pension and retiree health plans to reveal insights that would not be evident to the plans acting alone. Before establishing its US club in 2019, its first two clubs in UK and Canada had served the needs of plan sponsors and their advisors since 2008 and 2015 respectively. Club Vita’s innovative team has designed, built and refined ZIP code based socio-economic models for understanding the diversity of longevity. These enable plan sponsors not only to tailor their assumptions to reflect their people, but also to develop strategies to actively manage their longevity risk, so longevity is no longer just an actuarial assumption. For more information, please visit https://www.clubvita.us/.
Founded in 1987, WinTech is based in Connecticut, USA and services a diverse client base of more than 300 organizations in over 30 countries. For more information, please visit winklevoss.com.
Eleis Brennan, Intermarket