Product Development Associate Actuary - IUL | Fully Onsite (Minneapolis, MN, US, 55416)

Allianz
Minneapolis
Workplace: OnsiteFull timeUSD 100,000 - 200,000 annuallyFunction: Insurance & ActuarialExperience: 8+ yearsEducation: bachelorsSkills: ["Mentoring","Collaboration","Communication"]

Lead development, pricing, and strategic direction of Indexed Universal Life (IUL) products, acting as an actuarial expert on IUL mechanics, pricing models, and regulatory considerations. Collaborate with Investments, Underwriting, Reinsurers, Product, Distribution, and Marketing to ensure competitive, sustainable design and pricing aligned with business goals.

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FursaFursa
Allianz
Allianz
4 months ago

Product Development Associate Actuary - IUL | Fully Onsite (Minneapolis, MN, US, 55416)

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Last checked: 21 hours agoStatus: Live

Job Summary

Lead development, pricing, and strategic direction of Indexed Universal Life (IUL) products, acting as an actuarial expert on IUL mechanics, pricing models, and regulatory considerations. Collaborate with Investments, Underwriting, Reinsurers, Product, Distribution, and Marketing to ensure competitive, sustainable design and pricing aligned with business goals.
Location: Minneapolis
Workplace: Onsite
Employment Type: Full time
Job Function: Insurance & Actuarial

Key Responsibilities

  • •Design and refine IUL products, including index crediting strategies, cap/participation structures, multipliers, fixed account design, riders, and survivorship variations.
  • •Build, enhance, and validate pricing models using advanced actuarial techniques, ensuring accurate representation of product behavior.
  • •Set and maintain assumptions for mortality, persistency, expenses, funding patterns, rider use, and index crediting performance.
  • •Develop pricing strategies that balance regulatory expectations, risk management considerations, and competitive market needs.
  • •Incorporate SNFL, 7702, and AG 49 requirements into product and pricing models to ensure compliant and sustainable design parameters.

Pay and Benefits

Salary: USD 100,000 - 200,000 annually
Perks:Relocation401kHealth InsuranceLife InsurancePaid Leave

Key Requirements

  • •8+ years actuarial experience with background in life product development, including IUL.
  • •Fellowship in the Society of Actuaries (FSA).
  • •Four-year degree required in Actuarial Science, Mathematics, Physics, Economics, Engineering, or related field
  • •Experience applying SNFL, 7702, and AG 49 requirements within product design, modeling, and pricing frameworks.
  • •You must be legally authorized to work in the U.S. without requiring immigration sponsorship now or in the future.
Experience:8+ yearsLife insuranceActuarial
Education:Bachelor's in Actuarial Science
Skills:MentoringCollaborationCommunication
Certifications:FSA
Tech Stack:Actuarial modelingPricing methodologiesAIGenerative AI

Eligibility

Work Authorization:Authorization required. Sponsorship not provided.

Company Brief

Allianz
Global insurance and financial services group offering property-casualty insurance, life and health insurance, asset management, and corporate risk solutions to individuals, businesses, and institutions across more than 70 countries.
Industry: Insurance
Company Size: Enterprise (1,001+ employees)
Revenue: USD 1B+
Growth: Public Company
Valuation: Public Company (Market Cap in USD)
Funding: IPO / Publicly Listed
Headquarters: Munich, Germany
Founded: 1890
WebsiteLinkedIn