The data which is used for mortality investigation is currently insufficiently because the data is aggregated and because there is insufficient history for a number of systems. It is becoming increasingly difficult to meet the frequencies that regulators propose to deliver reports. Therefor it is necesarry to develop a solution which provides accurate data for the mortality examination at the policy level and, wherever possible, is set up generically for the purpose of adding other portfolios at a later stage.
Business Need: The data which is used for mortality investigation is currently insufficiently because the data is aggregated and because there is insufficient history for a number of systems. It is becoming increasingly difficult to meet the frequencies that regulators propose to deliver reports. Therefor it is necesarry to develop a solution which provides accurate data for the mortality examination at the policy level and, wherever possible, is set up generically for the purpose of adding other portfolios at a later stage.
Solution: Aquila has developed a solution for a 'Top 3' insurer for investigating 'Mortality Data' (Mortality and Lapse) in Life and Pensions portfolio's. Challenge was to first connect with the existing method to implement a new methodology from there. Because the existing method was not sophisticated enough as a result of missing data, an enrichment took place first to obtain more accurate insight into the development of the portfolio.. For this various other files have been used. Another challenge was the processing of large amounts of data. The research concerns 10 years of data that are built up on a monthly basis. For this specific piece of development Java script has been developed and incorporated in de solution.
Results: The result is a solution that provides a better insight into mortality research for Life and Pension portfolios due to various options for analysing. Functionality has been developed that allows users to add new files themselves. In addition, auditing and logging is included in the context of risk and compliance. The application has been developed in such a way that it can be expanded with functionality for other portfolios. The project is delivered in a little less than 4 months according to plan.