Insurance Product Management and Financial Reporting

Insurance product management includes claims experience analysis, premium rate increases, and financial reporting.  A sample of our experience is provided below.


Claims Experience Analysis

  • Actual to expected analysis comparing original product pricing assumptions to claims experience.  This was completed for one client's group products and another client's critical illness benefits.
  • Analyzed dental experience and trends.  Provided dental reserving and claim projections for corporate planning.
  • Analyzed health claims experience and projected alternative product designs to improve the sustainability of the product.

Premium Rate Increases

  • Recommended premium rate increases for Medicare Supplement insurance, prepared memorandums for the rate increases, and responded to questions from states' department of insurance.

Financial Reporting

  • Proficient with GGY Axis and PolySystems Actuarial Software
  • Updated reserving methodology for specified disease, long term care, Medicare Supplement, and Life insurance products.  The valuation software was Polysystems HealthMaster and LifeMaster.
  • Updated reserving methodology for cash value and return of premium riders.
  • Improved actuarial understanding and communication of reserve fluctuations by designng reports for unprocessed claims, premiums, and policy changes.
  • Designed and completed valuation audits for claim and active life reserves
  • Worked with client's IT department to satisfy reinsurance audit requests
  • Projected non-forfeiture option elections and reserve impacts.
  • Developed database tools for 2 clients to automate monthly reinsurance reporting and track trends.