Willis Towers Watson has developed a model that helps insurance companies and pension funds to predict mortality patterns to more accurately price insurance cover, calculate liabilities and manage risk.
PulseModel is based around seven main disease groups: heart disease, diabetes, cancer, stroke, respiratory, digestive/renal and neurological (plus common comorbidities).
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“We have been concerned for some time that the mortality models in common use do not properly incorporate medical information – such as whether people are healthy or have some disease history – quite apart from lifestyle information such as smoking status or basic medical markers,”said Matthew Edwards, head of mortality and longevity in Willis Towers Watson’s life insurance practice.
The model also weighs risk factors such as smoking status, blood glucose, and BMI as well as the time of longevity since diagnosis.
Willis Towers Watson developed the model with a panel of medical experts from the different disease groups.
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