OverviewPhysicians Mutual is seeking an experienced
Pricing Actuary - Medicare Supplement Product Management to provide actuarial leadership for the design, pricing, implementation and ongoing management of Medicare Supplement insurance products.
In this role, you'll focus on Medicare Supplement pricing strategy, rate adequacy, product profitability, experience monitoring and regulatory support. You'll partner closely with Product Management, Underwriting, Claims, Finance, Marketing, distribution teams and other business partners to ensure Medicare Supplement products are competitively priced, financially sound, compliant with applicable state and federal requirements and aligned with Physicians Mutual's long-term business goals.
This is a high-impact opportunity for an actuarial leader who brings strong technical pricing expertise, sound business judgment and the ability to translate Medicare Supplement experience data into actionable product and rate recommendations.
Responsibilities- Lead actuarial pricing work for Medicare Supplement products, including new product pricing, rate development, profitability analysis and pricing assumption review.
- Support Medicare Supplement product development initiatives by evaluating product designs, benefit structures, pricing assumptions, underwriting considerations, administrative procedures and distribution strategies.
- Analyze Medicare Supplement experience, including morbidity, persistency, claim trends, expenses, loss ratios, rate increase history and other key profitability drivers.
- Develop, maintain and enhance actuarial pricing models using Excel, ALFA, CASE or other actuarial/statistical modeling tools.
- Prepare Medicare Supplement profit studies, financial projections, margin analyses and other actuarial evaluations to support product management decisions.
- Support Medicare Supplement rate actions, including re-rating analysis, management recommendations, filing support, implementation planning and post-implementation monitoring.
- Partner with Product Management and Compliance to support state filing requirements, actuarial memorandums, exhibits and responses to regulatory questions.
- Ensure Medicare Supplement pricing, reserving, re-rating and product management activities comply with applicable state and federal regulations, Actuarial Standards of Practice and related Practice Notes.
- Monitor emerging experience and external factors impacting Medicare Supplement performance, including morbidity trends, aging patterns, persistency, expenses, competitive positioning and regulatory developments.
- Prepare and present actuarial findings, financial risks and recommended actions to management and cross-functional stakeholders.
- Collaborate with Underwriting, Claims, Finance, Marketing, distribution teams, technology partners and other areas to support accurate, timely and effective product decisions.
- Provide coaching, training and technical guidance to less experienced actuarial professionals and technicians.
Qualifications- Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics or a related analytical field.
- Fellow of the Society of Actuaries designation.
- Medicare Supplement, supplemental health, health insurance pricing or related actuarial product management experience.
- Strong knowledge of actuarial pricing concepts, rate adequacy, profitability analysis, reserves, experience studies and regulatory requirements.
- Demonstrated ability to analyze morbidity, persistency, expenses, claims experience, loss ratios and other financial drivers.
- Experience developing or maintaining actuarial models using tools such as Excel, ALFA, CASE or similar software.
- Ability to prepare and explain complex actuarial, financial and statistical reports.
- Strong communication skills with the ability to present complicated data, pricing recommendations and financial risks to multiple levels of management.
- Ability to manage multiple complex projects while meeting established deadlines.
- Demonstrated ability to meet continuing education requirements established by the Society of Actuaries and the American Academy of Actuaries.
Preferred- Direct Medicare Supplement pricing, rate increase or state filing experience.
- Experience preparing or supporting actuarial memorandums, rate filings, exhibits and regulatory responses.
- Experience with Medicare Supplement product development, product management, profitability monitoring or re-rating actions.
- Experience presenting pricing recommendations to senior management or cross-functional leadership groups.
- Experience coaching actuarial students, analysts or less experienced actuarial professionals.
