Actuary, IUL Product Design & Pricing

Acumen Group; Minneapolis (MN); On-site; USD 150,000 - 210,000; Full time

Job summary

Acumen Group is seeking an Associate Actuary to help design, price, and strategically develop Indexed Universal Life products. You will serve as a subject matter expert on IUL mechanics and index crediting strategies, partnering with product, investments, underwriting, and distribution teams to drive profitability.

Responsibilities include building pricing models, validating assumptions, and ensuring regulatory compliance (SNFL, 7702, AG 49).

Qualifications

• 8+ years of actuarial experience in life insurance product development and IUL.
• Deep knowledge of IUL mechanics, pricing methods, and modeling platforms.
• Experience applying SNFL, Section 7702, and AG 49 in design and pricing.
• Strong ability to translate analysis into actionable product and business recommendations.
• Experience evaluating underwriting programs and mortality trends.
• Proven ability to work effectively across cross-functional teams and stakeholders.

Responsibilities

• Lead the design and enhancement of IUL products including index crediting strategies, caps, participation rates, multipliers, riders, and product features.
• Build, maintain, and validate actuarial pricing models to support product development and profitability objectives.
• Analyze and establish assumptions related to mortality, persistency, expenses, funding patterns, rider utilization, and index performance.
• Ensure product designs comply with regulatory requirements, including SNFL, Section 7702, and AG 49.
• Conduct profitability studies, sensitivity testing, and scenario analysis to evaluate product performance and support strategic decision-making.
• Partner with Investments teams on option budget, hedging, and index strategy considerations.
• Collaborate with Underwriting and Reinsurance partners to assess underwriting programs and mortality impacts.
• Monitor competitive market trends and identify opportunities for product innovation and growth.
• Mentor actuarial team members and provide guidance on pricing methodologies, modeling approaches, and IUL concepts.

Skills

Actuarial pricing

IUL product design

Regulatory knowledge

Cross-functional collaboration

Modeling platforms

Job description

Acumen Group is seeking an Associate Actuary to help design, price, and strategically develop Indexed Universal Life products. You will serve as a subject matter expert on IUL mechanics and index crediting strategies, partnering with product, investments, underwriting, and distribution teams to drive profitability.

Responsibilities include building pricing models, validating assumptions, and ensuring regulatory compliance (SNFL, 7702, AG 49).