This position reports to the Group Life Product Actuary and provides support for pricing and product development activities of the Group Life product. Product development includes the origination and evaluation of new product ideas, and pricing and maintenance of existing products. Projects emphasize a strong focus on profitability and growth of the product line.
Responsibilities
- Supports the development, implementation and documentation of the group life insurance pricing structures ( for both new business and renewal), including experience studies, state rate filings and development of system specifications.
- Provides other actuarial support for product management including profit analysis by block segments and case level underwriting support.
- Monitor economic, social and regulatory factors that impact product experience and assess the impact on the product portfolio and in the larger market.
- Monitor financial results and provide such information as is necessary to the Controller of the Group Division to ensure that such results are reported accurately.
- Track operating expenses, allocated expenses to the Product, and other outside influences on the financial position of the product.
- Support the development of budgets and forecasts for the product.
- Three or more years of experience in actuarial positions.
- Associate in the Society of Actuaries is preferred.
- Computer literate - Microsoft Office, especially Excel and Access, ability to comprehend system flows - FOCUS, Viewpoint & APL a plus but not required.
- Strong verbal and written communication skills.
