21st Services announces an important
study of Medicare records that will
add, over five years,
on 15 million additional lives to our
database. We’re sharing it through a
Data Subscription Service.

21st Services has launched an important initiative to supplement the industry’s mortality data with data derived from a study of 15 million Medicare records. We have commissioned Chronic Disease Research Group (CDRG) to undertake the study. Results will be compiled over a five-year period, but 1.3 million records will already have been analyzed by March 2009.

“From an actuarial or statistical perspective, the life settlement industry is in its infancy,” says 21st Services Chief Actuary Vincent Granieri, FSA, MAAA, EA, MBA. To supplement industry data, all LE providers have “borrowed” data from the life insurance industry, where actuarial assumptions are based on millions of insureds. But the specific population our industry targets - older clients, wealthier clients - is under-represented in the insurance industry pool because, until recently, older people have been considered undesirable life insurance risks.

21st Services’ study is an important step forward in the assessment of senior mortality. Not only will our results be of value to the life settlement industry, they will be of broad interest to financial services firms who want to market to the swelling numbers of Seniors and Boomers.

For detail on how we will use the data and how we are making it available to customers through our Data Subscription Service, click the links below.

The Message from Chief Actuary Vincent Granieri provides background not just on the Medicare mortality study but the actuarial concerns that led us to launch it.

Issues and Answers on 21st Services’ Mortality Study is a follow-up to the presentation Vincent Granieri and CDRG’s Robert Foley gave at the LISA Fall Conference. It provides detailed information on the study’s methodology.

Fact Sheet on Data Subscription Service. The Service will provide to our clients data and analytical tools to better assess cases they are considering and gain a deeper understanding of the risk characteristics of their existing portfolios. To find out more about the Data Subscription Service, contact Chief Actuary Vincent Granieri at 612-277-0575, VGranieri@21stServices.com.