Tim has conducted engagements with top names in today's ever changing insurance landscape. Below are examples of issues addressed in recent engagements.
New Products: Specialty Life Insurance & Supplemental Health Insurance
Assisted a large life insurance carrier in the analysis of potentially new product/market opportunities in the specialty life insurance and supplemental health insurance product lines, all targeted to the middle market through newly-created distribution channels. Numerous aspects of market appeal were considered, including administrative needs, profit potential, design requirements, and joint venture possibilities.
Pricing: Direct Market Term Life product
Provided a major Midwest insurer with an analysis of pricing mortality for a Direct Market Term Life product. This ultimately led to a mortality recommendation for use in pricing that reflected mortality trends, underwriting protocols, and the nature of the product and the markets sold in to.
Illustration Guidelines: Indexed Life Insurance
Developed a thorough analysis and White Paper on the details surrounding and implications of new life insurance illustration guidelines targeted to indexed life insurance contracts. The White Paper addressed future impacts on Indexed Life Insurance product design, remaining interpretational issues, and the “fairness” of the new standards from a number of perspectives.
Pricing & Rate Setting: Income Annuity
Assessed the pricing and rate setting practices and assumptions for the income annuity product portfolio of a major Eastern life insurer. This assessment included consideration of pricing components such as mortality, capital, expense levels, investment assumptions, and profitability targets. The client’s assumptions and approaches were benchmarked against those of other major market players.
Market Overview: Deferred Fixed & Fixed Indexed Annuities
On behalf of a large international insurer, drafted a complete overview of the general account annuity marketplace in the United States. The focus of the engagement was on deferred fixed and fixed indexed annuities, and provided input on sales trends, market segmentation, regulatory issues, product design and pricing, and the future of retirement products. It concluded with the identification of market opportunities for a new entrant.
Expert Witness: Annuity Sales Practices
Provided expert witness services in connection with several independent litigation engagements. Certain of these engagements related to annuity sales practices involving both variable annuities and fixed indexed annuities, while others related to non-guaranteed charges on life insurance contracts. These engagements involved both production of Expert Reports and live testimony.