Life Expectancy Estimates
Predictive Resources is pleased to announce new products utilizing streamlined underwriting techniques!
You asked for quicker, less costly but still effective alternatives to traditional life expectancy
estimates. First, we developed a state-of-the-art paperless longevity evaluation system with
automated underwriting features that can be quickly modified to include the sound judgment that you have come to expect and rely on
from Predictive Resources. From that platform, we implemented two new products in addition to our traditional LEs:
Accelerated Longevity Estimate (ALE)
Utilizing a medical history interview – which can be provided to us in hard copy or electronic format – we evaluate based on your target population.
Because the ALE is dependent on self-reported information that is not independently verified, we do not certify this as an official Life Expectancy
Estimate or process it in the same manner. However, the ALE has great flexibility – we can use a long or short form medical form, add prescription drug
history, even help manage the interview process if you so desire. It can also be helpful in certain situations when a fully underwritten Life Expectancy
Estimate is not feasible. We will tailor our approach to your needs.
Longevity Update Using Prior LE (LUUP)
Do you have an uncooperative insured who will not release their medical records to you? Are you stuck with no way to update medical records, but you still need to value a policy?
Don’t be thrown for a loop! We use the underwriting conditions from the latest LE you have as one of the inputs to our system to provide our best estimate of the insured’s current longevity.
Building upon the tertiary or down-the-curve analysis that was pioneered by our principals, we scrutinize the conditions and impairments as well as their time frame.
Using statistical and clinical tools, we project the impairments to the present, taking into account the progression and wear off of various conditions over time.
Although the LUUP is not an LE, there are situations where it is the best alternative you will have to assess longevity.
Our promise – continuous improvement
What sets Predictive Resources apart is our commitment to continuous improvement and our processes. Mortality patterns follow smooth progressions so we have developed smooth,
parametric mortality curves, based on mathematical expressions. Mortality is ever-changing so we will update our 2014 curves continuously to ensure that they do not get stale.
From an underwriting standpoint, there have been a number of approaches utilized; all with some merit. Some use medical personnel. Others use traditional life and health underwriters.
Still others utilize automated systems. We will underwrite using a traditional debit/credit approach, consistent with the system used to develop our base mortality curves.
Experienced medical personnel will be consulted appropriately. We will automate our underwriting system to ensure consistency, but every case will be reviewed by senior management
to ensure that interactions and comorbidity has been properly assessed by the system. Our aim is to utilize the best practices available in concert to provide a superior product.
Our goals are ambitious because your needs are significant.
At Predictive Resources, we are well positioned to meet your needs. We have full time dedicated actuarial resources.
We have published peer-reviewed senior longevity research. Our IT resources are experienced in the life settlement space as
well and have demonstrated the ability to build automated underwriting systems, web-based analytical tools and risk assessment
performance measurement systems. We have aligned with thought leaders in the underwriting profession.