News and Press | May 6, 2020

Segal Offers Club Vita’s Longevity Service to Plan Sponsors

On May 5, 2020, Club Vita, the international leader in longevity analytics, today announced an agreement with Segal, a leading employee benefits consulting firm. The relationship will bring Club Vita’s longevity risk reporting to Segal, whose clients include multiemployer trust funds, public sector plan sponsors, and corporate and not-for-profit employers.

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Segal actuaries will have access to Club Vita’s proprietary longevity analytics to assist with assumption setting. Segal clients in the U.S. will also have the opportunity to engage Club Vita’s sophisticated approaches to measuring and managing plan longevity risk, including annual reporting.

Club Vita’s robust analytics enable a plan sponsor or its trustees to become better-informed about their pension or retiree health plan, while equipping their advisors with tools to more effectively counsel on strategy and tactics.

“We look forward to working with Club Vita to help our clients better analyze the drivers of longevity risk. This collaboration will also assist with developing a large pool of predictive data, enhance decision-making and aid in improving the security of benefit promises,” says Eli Greenblum, Senior VP and Chief Actuary of Segal. “This relationship will take us a step further in our mission to deliver solutions that improve lives.”

“Through our collaboration with Segal, we will gain broader coverage across the defined benefit pension market at a crucial time: the importance of demographic modeling has never been higher and the appreciation of the benefits of risk protection has never been greater,” says Dan Reddy, Club Vita’s U.S. CEO. “Providing clients with the ability to make better decisions will have a direct impact on a plan’s beneficiaries not just today, but for years to come.”

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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 and retiree health plans to reveal insights that would not be evident to the plans acting alone. Before establishing its U.S. club in 2019, its first two clubs in UK and Canada had served the needs of plan sponsors and their advisors since 2008 and 2015 respectively. Club Vita’s innovative team has designed, built and refined ZIP code based socio-economic models for understanding the diversity of longevity. 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. For more information, please visit https://www.clubvita.us/.

About Segal

Segal provides trusted advice that improves lives. Segal is a privately-owned benefits, human capital, communications, technology, insurance brokerage and investment consulting firm with more than 1,000 employees throughout the U.S. and Canada. Segal, Segal Marco Advisors and Segal Benz are all members of the Segal family.

 

Media Contacts:

Eleis Brennan, Intermarket
+1 212-754-5610
ebrennan@Intermarket.com

Amira Rubin
+1 212-251-5322
arubin@segalco.com

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