AVP, Underwriting Innovation

F&G is hiring for a AVP, Underwriting Innovation. This role will provide leadership and strategic guidance for the protection pricing and design team with a focus on life insurance and supplemental benefits. This position will be responsible for underwriting innovation including data sources, emerging technologies, application design, and behavioral science. This position will have oversight of analytics related to the underwriting experience, protective value of the requirements, as well as post-issue management. The position will also work with external reinsurance parties to formulate strategies beneficial to F&G, the negotiation of treaties and their management. The position will also provide a feedback loop to Product Development to enable effective management of mortality risk and product positioning while scaling for growth.

This position reports directly to the VP, Protection Segment Product Officer and is expected to interact with the UW Technical Team, the underwriting implementation team, various reporting teams, the Product Development Advisory Team, the Portfolio Product Manager, Protection Distribution leads, the Actuarial and Risk Advisory team, and external parties such as reinsurers, distribution partners, and technology providers.

 

This position is expected to be active in industry committees to be aware of underwriting, actuarial and regulatory activity that will influence the Company’s underwriting. This position will have direct and indirect reports.

Duties and Responsibilities

• Oversee and manage future underwriting innovation for F&G
  • Collect, assess, and incorporate feedback from interested parties
  • Analyze new underwriting innovations for reliability, accuracy, cost efficiency, legality, and customer experience; make recommendations for changes to Protection Segment leadership and partner with Operations on implementation
  • Synthesize information into cohensive underwriting strategy working with executive management, distribution, risk, product development, underwriting, and implementation teams
  • Design and execute on underwriting innovation department strategy
• Oversee and manage analytics of BAU underwriting activities
  • Prepare appropriate reports to undersdand effectivess of underwriting program/s, as well as client experience, making course corrections as needed
  • Post issue monitoring including analysis of random samples to assess effectivess as well as executing on any changes needed
  • Use emerging technologies to continually drive underwriting process improvements ensuring processes are scalable and cost effective
  • Expand instant issue program
  • Effective management of mortality risk management with a feedback loop to product development
• Application Development and Implementation
  • Work with internal business partners to draft life insurance applications that are customer friendly and offer proven protective value
  • Use behavioral economics to improve ease of doing business, as well as reliability of client information gathered
• Reinsurance strategies and management
  • Work with internal parties to execute reinsurance treaties in alignment with product launches
  • Negotiate cost-effective treaties in partnership with Product Development team
  • Utilize reinsurer offerings to keep F&G on the cutting edge of emerging underwriting innovations
• Team Leadership
  • Elevating the potential of direct reports
  • Identifying areas of growth and developmental needs for team
  • Effective use of outsourcing opportunities

Experience and Education Requirements

• Bachelor's degree
• A minimum of 10 years of experience in life underwriting
• Experience with Indexed Universal Life, living benefits and reinsurance
• ASA and MAAA designations are preferred
• Completion of ALU program with FALU designation or equivalent preferred
• Completion of LOMA program with FLMI designation or equivalent preferred

Knowledge, Skills & Abilities

• In-depth knowledge of underwriting, risk selection, analytics, reinsurance, and quality control
• Awareness of regulations around emerging underwriting practices
• Strong problem-solving skills that include advanced analytical and reasoning abilities
• Subject matter expert in life insurance underwriting and developing application with behavioral design elements
• Unconditional integrity and commitment to delivering accurate information on schedule
• Demonstrated ability to proactively identify issues and to influence key project decisions to achieve desired outcomes
• Self-starter who de