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Insurance Product Development Jobs in Connecticut

AIG

State Filings Analyst- Insurance

Wilton, CT

$76K - $90K/yr

The analyst will collaborate closely with product development, actuarial, underwriting, legal, and external vendors to support the development, implementation, and maintenance of insurance products.

LATICRETE International

Product Manager

Bethany, CT · On-site

Life Insurance, AD&D and Supplemental Insurance POSITION SUMMARY Product development and product line management position for a multinational construction materials manufacturer. Responsible for ...

Bio-Techne

Product Support Scientist

Wallingford, CT

$81.90K - $134.55K/yr

They will work closely with quality, engineering, assay development, and reagent manufacturing ... We offer competitive insurance benefits starting on day one: medical, dental, vision, life, short ...

Bio-Techne

Product Support Scientist

Wallingford, CT · On-site

$81.90K - $134.55K/yr

They will work closely with quality, engineering, assay development, and reagent manufacturing ... We offer competitive insurance benefits starting on day one: medical, dental, vision, life, short ...

Amphenol RF

Product Manager

Danbury, CT · On-site

... life insurance), favorable work/life balance, a generous PTO allowance and paid holidays, an ... We are currently seeking a Product Manager who will be responsible for leading the development ...

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Insurance Product Development information

What is an Insurance Product Development job?

An Insurance Product Development job involves designing, testing, and launching insurance products that meet market demands and regulatory requirements. Professionals in this role analyze industry trends, assess risks, and collaborate with underwriting, actuarial, and marketing teams to develop competitive policies. They ensure compliance with legal standards and optimize product offerings to attract customers while maintaining profitability. This position requires a mix of analytical skills, market research, and knowledge of insurance principles.

What are the key skills and qualifications needed to thrive in the Insurance Product Development position, and why are they important?

To thrive in Insurance Product Development, a solid background in insurance concepts, product design, and market analysis is typically required, often supported by a degree in business, finance, or a related field. Familiarity with actuarial software, data analytics tools, and regulatory compliance systems is highly valued, and some roles may require certifications such as CPCU or CLU. Strong project management, creativity, and effective communication skills are important soft skills for collaborating with cross-functional teams and stakeholders. These competencies are crucial to successfully developing innovative insurance products that meet market demands while adhering to regulatory requirements.

What are the main responsibilities of someone working in Insurance Product Development?

Professionals in Insurance Product Development are responsible for researching market trends, identifying customer needs, and designing new insurance products or enhancements to existing offerings. This role often involves close collaboration with underwriting, actuarial, marketing, and compliance teams to ensure products are competitive, profitable, and compliant with industry regulations. Team members may also conduct competitor analysis, coordinate product launches, and provide ongoing lifecycle support for their products. The work environment is typically dynamic and project-driven, offering both creative and analytical challenges.

What does a product development job do?

An insurance product development job involves designing, creating, and improving insurance products to meet market needs and regulatory standards. It requires analyzing customer data, collaborating with underwriting and marketing teams, and using tools like actuarial software to develop competitive offerings. The role often involves project management and understanding industry trends to ensure product success.
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Insurance Product Development jobs near you

Senior Analyst, Annuity Product Development

Careers at KKR

Hartford, CT

Other

Posted 19 days ago

Job description

POSITION SUMMARY

The Senior Analyst, Annuity Product Development (Retail) will be key part of Individual Market Team, engaging in product development and innovation, helping to fuel next leg of sales growth.  

This position is a key member of the Annuity Product Development team, responsible for developing and pricing new annuity products with the objective of achieving sustainable competitive advantage with an industry leading product portfolio. This individual will engage with key internal and external stakeholders across multiple functions to proactively find creative solutions to the opportunities and challenges faced in today's retirement market across multiple distribution channels.

The successful candidate will report to the Vice President, Individual Markets and can be located in either out Hartford, CT, Des Moines, IA, or New York, NY offices.  An important component of the role will be effective collaboration and communication across Individual Markets as well as investments, risk, hedging, and finance areas to manage new business and in force profitability, product competitiveness and sales growth. 

The successful candidate will also collaborate with KKR to enhance our combined capabilities to design and launch new solutions to the marketplace.  The successful candidate needs a demonstrated ability to think both creatively and strategically.

RESPONSIBILITIES

  • Perform timely research, development, and robust product pricing of new solutions.
  • Use MG-ALFA or other modeling actuarial projection software to develop disciplined, robust pricing models and risks analysis for new product design ideas and modifications to current products.
  • Effectively balance competitive and pricing objectives to achieve overall company objectives.
  • Implement best practices in pricing methods, automation, organization, and documentation to improve overall efficiency and quality of product development efforts.
  • Collaborate with the Product Implementation team during the implementation of new products.
  • Collaborate with the Pricing team to set rates on new products and effectively incorporate new products into the product management processes.
  • Support product development needs related to state & prospectus filing, admin system testing, operations, marketing, and sales illustration.
  • Communicate with peers in product, risk management, investments, marketing, legal & operations.
  • Support product approval by ensuring product risks are mitigated and documented.
  •  Develop and maintain industry knowledge including economic, regulatory, and competitive environments to support development of new products.

QUALIFICATIONS

  • Bachelor's degree (or higher) in Actuarial Science and two years of experience in the annuity/life insurance industry is preferred, product development experience a plus
  • Successfully completed 2+ actuarial exams, Actuarial Mathematics exam(s) strongly preferred
  • Prior experience with actuarial software considered a plus
  • Prior annuity product development experience considered a plus
  • Ownership - Takes personal accountability for the execution of their goals and objectives. Strong organization and delivery of results.
  • Innovative - Able to participate in the generation of new and unique ideas. Forward thinking and tenacious. Flexible in navigating changing business environments.
  • Analytical Skills - Possess strong analytical skills necessary to price products, ability to trouble-shoot and work to find solutions independently.
  • Communication - Able to communicate effectively - verbal, written and listening.
  • Teamwork - Has positive attitude necessary to be part of a strong performing team.  Strong interpersonal skills for relationship building and engagement.
  • Must be able to travel occasionally to other offices (i.e. Des Moines, Hartford, New York, Wayne (PA))

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