MorganAsh

Accurate, evidence-based valuations

MorganAsh works with pensions consultants, providing an evidence-based approach to underwriting that delivers far more accurate valuations.

Medically underwritten mortality studies (MUMS)

Medically underwritten mortality studies (MUMS)

The business need

Trustees and organisations need to assess the longevity of defined benefit pension scheme members – but are plagued by wildly varying estimates. Traditional methods of assessment are flawed, relying on projecting analysis of postcodes – and can vary greatly, since they are based on assumptions not solid information.

The service

MorganAsh provides an alternative approach to scheme valuation, which can be combined and compared with traditional methods to give a different perspective. We assess the health of individual scheme members and then estimate their longevity, using long-established life insurance medical underwriting techniques. This evidence-based approach has typically shown variations of 5–10% in valuations, resulting in changes in valuations of millions of pounds.

Features

  • Telephone surveys undertaken by qualified nurses, experienced in working in the insurance sector.
  • Well-defined, structured, proven service.
  • Evidence-based approach provides longevity estimates based on real data of the actual scheme.

Benefits

  • Provides evidence-based, improved-accuracy scheme longevity valuations.
  • Resolves valuation arguments.
  • Prepares for future buy-in/-out transactions.
  • Improves risk management, notably for Solvency II.
  • Assists negotiations for funding requirements.
  • Facilitates mergers and acquisitions activity.

Our clients say:

We are committed to providing the easiest way for our members to purchase our income protection contract, and this is a great improvement. Interviews are conducted in privacy and at the applicant’s convenience. Financial advisers often have long-term relationships with their clients; tele-interviewing avoids embarrassing face-to-face discussions of intimate medical and personal details.

Farrukh Mirza, deputy chief executive of Dentists’ Provident