ClearLife is delighted to announce the impending release of the Life Settlements Impairment Grid or “LSIG”. Developed jointly by 21st Services and ClearLife, LSIG has been developed as an easy way for investors to measure the diversity of medical impairments, using a series of categories and sub-categories to collect impairment data across a portfolio of life settlements and then report that data at different levels of granularity.
Additionally, in conjunction with its Medical Advisory Board, 21st Services has developed for each sub-category of impairment within LSIG an Impairment Risk Measure, or “IRM”, which assigns a measure of volatility to the prognosis surrounding that impairment. This is the first time that an industry participant has developed a means for expressing the degree of risk surrounding the prognosis for impairments and ClearLife is delighted to be offering such a powerful tool through ClariNet.
LSIG allows investors to collect impairment data and report that information in a standardised way, without needing to track ICD-9 codes or any of the other medically-led impairment categorisations. It has been designed with investors in mind, simple enough to be implemented coherently by someone with no medical training, but comprehensive enough to provide sophisticated investors – and their senior management, risk management and capital providers – with the underlying data from which to analyse correlation across different impairment categories. The IRM categories go further still and provide the life settlements industry with its first measure of medical impairment volatility – a significant leap forward in risk analysis. 21st Services has committed to having the IRM categories for each impairment reviewed regularly by its Medical Advisory Board and any changes to the IRM categories will be made available directly through ClariNet.
LSIG will be made available to approved ClariNet subscribers which are investors and will come at no additional charge over the ClariNet subscription fee. ClearLife expects LSIG to be available through ClariNet to approved subscribers in January 2010.