SCOR Global Life’s Research & Development Centres |
SCOR Global Life began developing its knowledge of Life and Health insurance risks at a very early stage and now benefits from in-depth experience and recognised expertise. The research & development (R&D) centres put this risk assessment know-how at the disposal of clients.
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An investment for our clients
The R&D Centres form part of SCOR Global Life’s range of services: using analyses and risk projections from these Centres, SCOR Global Life advises its clients on the design and follow-up of their Life and Health insurance products.
The Centres provide input at the product creation stage, bringing their know-how to the definition of risk selection and acceptance criteria, as well as to the calculation of premiums and reserves. They contribute to risk follow-up and portfolio management by conducting claims occurrence studies and risk projections, and sometimes by participating in technical audits.
Moreover, our Centres spread the fruits of this research through publications and seminars.
4 Centres
The dedicated research and development (R&D) team is made up of actuaries, mathematicians, underwriting and claims management experts and specialist physicians. Research into actuarial aspects and product features is divided between four different Centres:
• CIRDAD: International R&D Centre for Long-Term Care Insurance
• CERDALM: R&D Centre for Longevity and Mortality Insurance
• CERDI: R&D Centre for Disability and Critical Illness
• CREDISS: International R&D Centre for Selection and Claims
Management. This Centre is devoted to medical and financial selection and assessment policy, as well as to claims analysis, and plays a cross-sector, complementary role.
These research and development Centres report to the Chief Actuary of SCOR Global Life. They assist all countries, at the request of the local teams in charge of business development and client relationships.
Scientific partnerships
In order to complete their knowledge, the Research & Development Centres form partnerships with recognised experts in their given fields. These partnerships enable them to bring together an extremely varied range of expertise, thereby enhancing our assessment of risk.
• Long-term Care risk: partnership with the INSERM team (France), which is in charge of the PAQUID project, an epidemiological study into the health of the elderly.
• Longevity projection methods: partnership with Professor James W. Vaupel, founding director of the Max Planck Institute for Demographic Research (Germany) and Doctor Kirill F. Andreev, United Nations demographer.
• Relationship models facilitating the connection of two mortality curves: partnership with Professor Michel Denuit, Université Catholique de Louvain (Belgium).
• Volatility and deviation risk in Life annuity portfolios: partnership with Professor Daniel Serant and Doctor Stéphane Loisel, Université Claude Bernard de Lyon (France)
• Studies into Alzheimer’s disease: partnership with the IFRAD foundation (France)
• Risks linked to cardiovascular disease: partnership with the Assman Foundation based in Münster (Germany)
CIRDAD: R&D Centre for Long-Term Care Insurance | Long-Term Care insurance developed in the mid 1980s. A European leader on this market, SCOR Global Life launched the first R&D centre for Long-Term Care insurance, CIRDAD, in 2001. This Centre studies the risks inherent to Long-Term Care and provides the tools necessary to manage long-term commitments. It also permanently monitors these products on a worldwide basis.
CIRDAD contributes to the development of fixed-rate Long-Term Care insurance products.
Using the analyses provided by CIRDAD, SCOR Global Life has developed numerous fixed-rate Long-Term Care insurance products, thus becoming a key player in the Long-Term Care market in Continental Europe, as well as in certain Asian countries such as South Korea. | CERDALM: R&D Centre for Longevity and Mortality Insurance | Mortality and Longevity are very common risks on insurance portfolios, notably through death cover and Life annuity products. These two risks lie at the heart of SCOR’s Global Life’s research activities. The company’s dedicated R&D Centre, CERDALM, brings together statistical expertise and operational actuarial research.
CERDALM models and projects risks, as well as developing tools designed to facilitate the use of databases and to make the analysis of such databases more reliable. It offers SCOR Global Life’s clients portfolio study and risk projection services, thereby helping them to predict future changes in terms of risk factors and to update their range of products. | CERDI: R&D Centre for Disability and Critical Illness Insurance | Disability and Critical Illness risks require cover that is tailored to the assistance provided by a given country’s social welfare system. This leads to definitions and needs that vary significantly from one country to the next. With the creation of CERDI in 2007, SCOR reinforced its capacity to provide services for these risks.
CERDI offers personalised advice regarding the design and follow-up of products. Benefiting from the international expertise and experience of SCOR Global Life, this Centre examines the features specific to each country and conducts portfolio studies. CERDI also makes projections in order to discern the major trends affecting risk in each country, e.g. developments in the incidence rate and diagnosis of critical illness, links between the economic situation and disability risk. | CREDISS: R&D Centre for Selection and Claims Management | The selection of insurance applicants enables insurers to manage their level of risk fairly. The financial side of this selection process enables the insurer to make sure that the amount of insurance requested reflects a genuine need for cover. The medical side ensures that the applicant’s state of health corresponds to the rate proposed.
CREDISS ensures the development and progress of the risk selection and acceptance policy advocated by SCOR Global Life. It monitors medical discoveries and advances on a permanent basis, analyses their consequences and transposes these into the insurance sector. It is also involved in advancing the field of financial selection.
This permanent innovation, combined with solid practical experience of the problems inherent to risk selection and management, enables SCOR Global Life to accompany its clients through the definition of their risk selection and claims management policy. |
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