Bermuda-based retirement solution provider Athene has implemented RiskFirst and its pension risk analytics and reporting solution, known as PFaroe, to improve monitoring capabilities for plan sponsors.

The web-based platform helps companies to better understand, control and mitigate the financial risks related to defined benefit (DB) pension schemes.

By leveraging PFaroe’s on-demand liability and transaction price monitoring services, Athene seeks to help sponsors assess risk and purchase annuities at the optimal time.

Athene head of pension risk transfer Sean Brennan said: “We see real value in moving from monitoring liabilities and insurance prices on an ad hoc basis to a more frequent – even daily – basis.”

“Through PFaroe, plan sponsors will have up-to-date financial metrics and data, and a robust set of analysis at their fingertips, allowing them to evaluate the attractiveness of insurance pricing against those key financial metrics quickly and easily.”

Using the forecasting capabilities of PFaroe, the insurance plan sponsors can consider both the immediate and the long-term impact of market changes and strategic decisions on their insurance plan.

Brennan added: “There is growing interest from clients in maximizing their ability to make informed decisions when it comes to hitting targeted financial metrics.

“We have entered into this partnership with RiskFirst as we are committed to investing in innovative technology to address these needs and bring added value to our clients.”