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Club Vita Brings Its Big Data Longevity Service to U.S., Appoints Dan Reddy as U.S. CEOClub Vita, a provider of longevity risk data, today announced its plans to expand to the United States. A team of British, Canadian and American actuaries and data scientists is collaborating to deliver Club Vita's novel longevity data analytics service to American pension plans and insurers. Born in the UK in 2008 and successfully launched in Canada in 2015, Club Vita will further extend its global footprint in the massive U.S. market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190625005207/en/ 
Club Vita U.S. CEO Dan Reddy (Photo: Business Wire) Club Vita's proprietary research method uses ZIP codes, alongside other characteristics of the participants of defined benefit (DB) pension plans, to capture the diversity of life expectancy. In the UK and Canada its methodology is accepted as best practice. Club Vita's big data insights reduce uncertainty and help plan sponsors make better informed decisions on funding and risk management, ften reducing cost. "The United States represents a prime opportunity for us," said Douglas Anderson, founder of Club Vita. "This is a nation that stands out because of the diversity of its people, its rapidly growing pension risk transfer market - which grew by around 30% to $25 billion in 2018 - and its structured ZIP code system. "Club Vita's longevity analytics service provides a platform for pension advisors to guide their clients, similar to the way that investment performance data services have enabled advisors to develop increasingly sophisticated and tailored financial risk strategies." With the expansion, Club Vita has appointed Dan Reddy, an experienced U.S. plan actuary, to the role of U.S. chief executive. Dr. Erik Pickett, one of Club Vita's experienced UK longevity actuaries, will work closely with Reddy to roll out the company's unique offering. They will be supported by Club Vita's international team of thirty longevity specialists. "We will show that U.S. longevity differences follow the same socio-economic pathways as in UK and Canada," added Reddy. "Club Vita's analysis will not only open the eyes of plan sponsors, but it will lead to material savings for many and less risk for all." 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 plans to reveal insights that would not be evident to the plans acting alone. Its two existing clubs have served the needs of plan sponsors and their advisors in the UK since 2008 and Canada since 2015. Club Vita's innovative team has designed, built and refined ZIP code based socio-economic models for managing longevity risk. 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. Club Vita's models are used by several firms of actuarial advisors and insurance companies participating in the pension risk transfer market. For more information, please visit https://www.clubvita.us/. View source version on businesswire.com: https://www.businesswire.com/news/home/20190625005207/en/ |
