Procentia, a provider of pension administration software and technology, has launched Intelli-ACT, an actuarial valuation system for defined benefit pension schemes and life insurers.
Intelli-ACT was developed in partnership with Brightwell, the in-house manager for the BT Pension Scheme, one of the UK’s largest company pension schemes with over £35bn of assets and around 258,000 members. The system went live as BTPS’ exclusive valuation solution in December.
Intelli-ACT aims to produces granular liability cashflows in minutes, for every pension scheme member, in doing so improving the quality of information pension schemes and actuaries have access to. It can also be used with any administration platform and offers direct integration with IntelliPen, Procentia’s flagship solution.
Jonny Muir, chief product and technology officer at Procentia, says: “The industry has previously relied on legacy systems and outsourced models designed for a very different era. We saw a clear gap in the market for a valuation capability that was fast, accurate and directly integrated into day-to-day operations.”
In 2023, Procentia was appointed by BA Pensions to provide a single administration software platform for its 85,000 members.