Insurance broker Lockton has adopted financial technology provider, RiskFirst’s, new web-based risk analytics platform, PFaroe, to expand its offer of pension plan risk assessment for company clients.
The firm said the platform can be fed changing economic and market conditions to create the most up to date pension risk management scheme – optimising management and allocation of clients’ resources with a more sophisticated pension plan strategy.
Lockton Vice President and Consulting Actuary, Pam Devling, said; “Pension plan sponsors have been underserved when it comes to sophisticated risk analysis, especially mid-market plans. But PFaroe’s efficiency and ease of use is helping to change that. We are glad to now be able to offer our clients such powerful and innovative capabilities.”
RiskFirst Chief Executive Officer, Matthew Seymour, commented; “The evolution of the pensions market in the US – whether this be through liability-driven investing or de-risking strategies – is making the ability to have real-time data across assets and liabilities vital. We are delighted that Lockton is using PFaroe to ensure that their clients have access to these important analytics in their own toolbox as they head towards their own end-games.”
Develing added that companies offering pension plan schemes could benefit from taking a more holistic approach, looking not just at investments and liabilities, but at how these interact with market movements and plan sponsor decisions.