Delivering higher performance for longevity prediction
With life expectancies increasing and the socioeconomic characteristics of many postcodes shifting, predicting longevity at a postcode level has become both harder and more important than ever before.
Longevity Acorn is a robust consumer classification tool, designed to provide a more accurate measure of human longevity at a postcode level. It has been created by combining extensive data from Club Vita – the centre of excellence for improving the understanding of human longevity – with CACI’s wealth of demographic and lifestyle information. Longevity Acorn classifies UK postcodes into 16 groups, ranked from low to high life expectancy for individuals beyond 65.
What is Club Vita?
Club Vita is a collaboratively created pool of longevity data, gathered from over 200 defined benefit pension schemes, making it the richest data set of its kind in the market. It includes records for 1 in 4 defined benefit pensioners in the UK, across all industries.
By sharing data with each other through Club Vita, UK pension providers have gained deep visibility of longevity, building up a truly reflective view of customer positions that enable them to make informed scheme decisions. Now, with Longevity Acorn created in partnership with Club Vita, you can do the same.
Benefits
- Designed to deliver reliable visibility of over 65s’ longevity
- Reviewed annually to ensure we continue to capture the diversity of the UK’s longevity patterns
- Built with privacy by design principles using anonymised data to ensure GDPR compliance
- Available across the whole of the UK
- Created using control figures from Office of National Statistics (ONS)
Applications
- Mitigate the risk of owning and managing pension books
- Model lifespans with greater accuracy for life insurance and pensions
- Identify at-risk customers to plan care needs of the elderly in different areas
- Understand the longevity attributes of postcodes to target products aimed at seniors, such as pre-paid funeral plans
- Monitor spending patterns in retirement to manage future budgets
Further information
For further information on Longevity Acorn and how it can help you more accurately predict human longevity, get in contact.
Longevity Acorn
Delivering higher performance for longevity prediction