Reinsurer in the South has a need for a senior level individual life insurance Pricing Actuary with sales and/or marketing savvy. This position will have responsibility for achieving sales targets at the desired profitability level. This person will be given an existing client base and a geographic region to develop. Responsibilities include the development, assessment and negotiation of new IL business opportunities and the overall management of existing client relationships. This person will assist the Financial Solutions group by identifying potential non-traditional opportunities and participating in the discussion and negotiation of potential reinsurance solutions.
Specifically, the role will entail the following: developing strong, trusting relationships with key decision makers in existing and potential client companies, assisting with developing the marketing plan for their key clients and prospects, executing a marketing plan and by using experience and good judgment, securing the desired growth results in the market, at the expected profit margins, working with the Financial Solutions group to develop the contacts to further efforts to develop the capabilities and reputation to execute non-traditional reinsurance deals, assisting the Living Benefits and Group business areas by referring opportunities and in servicing clients as required, monitoring market developments with competitors, insurers, regulatory bodies, etc., which impact IL business, maintaining high visibility in the market by meeting with insurers, participating at industry meetings and by joining pertinent industry committees, taking all necessary steps to ensure that the company develops a market perception of the organization as being in the top tier of IL reinsurers, addressing the needs of clients in a timely manner and be seen as their business partner, maintaining strong relationships with key clients to assist in retention of profitable treaties, assisting the pricing process by working with clients to be included on Requests for Proposals (RFP’s) and by following up regarding any additional information needed to price effectively.
This position will also involve: working with the pricing team to structure proposal and communicate to the client, developing expertise in negotiating non-traditional business deals in close coordination with the Financial Solutions department, working with clients to negotiate reinsurance terms and conditions which meet profit objectives, working with clients and the company's treaty department to negotiate treaty wordings which provide the necessary protection for the company, understanding the dynamics which impact the profitability of the business and ensuring that problems are discovered early, taking appropriate actions to address problems with the financial results of accounts( monitoring results by account will be primarily handled by another unit).
Candidates should have the following background: experience in individual life insurance and/or reinsurance required, experience in direct and/or reinsurance pricing preferred, experience in sales and/or marketing preferred, experience in public speaking/presenting effectively to groups preferred, actuarial designation required and FSA designation preferred, strong ability to close deals and drive for results and get buy-in on desired deal, strong ability to sell self and ideas/solutions to internal and external customers, strong organizational skills and be able to effectively manage and prioritize many different issues at the same time, show attention to detail and a focus on quality of service in all aspects of relationship management, be energetic and goal oriented, combined with well developed interpersonal skills enabling him/her to connect with key contacts at client companies as well as internal contacts, effectively satisfy each client’s needs while ultimately meeting the company's profitability and/or risk management objectives, understanding of each client’s peers and competitors in order to ensure consistency across market in handling of cutting edge issues and knowledge of IL products and pricing fundamentals.
Candidates also should be will to travel as business dictates.