Description
Develop and price insurance and annuity products by analyzing statistical data and building models to forecast risk, profitability, and future liabilities. Set assumptions, premiums, reserves, and capital needs, and coordinate regulatory filings and cross-functional delivery to ensure compliant, financially sound launches. Monitor product performance and recommend changes to meet business and risk objectives.
- • Design product features, riders, and contract provisions aligned with market needs and risk appetite.
- • Develop pricing models and set assumptions for mortality, morbidity, lapse, expenses, and investment returns.
- • Calculate premiums, fees, reserves, and capital requirements to meet profit and return metrics.
- • Build and validate actuarial models and illustrations for new and revised products.
- • Perform experience studies and competitive analysis to inform pricing and positioning.
- • Conduct scenario, sensitivity, and stress testing to assess risk and profitability.
- • Prepare product business cases and recommend go/no-go decisions to leadership.
- • Draft and review policy forms, rate filings, and actuarial memoranda; manage regulatory submissions (e.g., SERFF).
- • Collaborate with underwriting, legal, compliance, finance, marketing, IT, and operations to deliver products to market.
- • Negotiate reinsurance structures and terms to optimize risk transfer and pricing.
- • Present technical results and recommendations to executives, distributors, and other stakeholders.
- • Establish dividend methodologies or crediting strategies for participating or interest-sensitive products.
- • Ensure alignment with GAAP/STAT reserving, capital frameworks, and company risk policies.
- • Support implementation in administration, illustration, and valuation systems; perform user acceptance testing.
- • Monitor post-launch performance, analyze deviations, and implement repricing or product changes.
- • Provide actuarial support for training, marketing materials, and explanation of product changes to field partners.
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Financial Services
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O*NET occupational data (work activities, skills, knowledge).
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Last reviewed: Jan 2026
