Understanding the Individual Life and Annuity Product Development Process

Donna Megregian, FSA, MAAA

Two years and over 3000 data points later, an extensive investigation of the US and Canadian individual life and annuity product development process has been completed by the Society Of Actuaries, with the assistance of RGA and LIMRA. This study can provide insights on the pain points and points of interest that participants expressed through a survey of the entire product development process. Come hear key highlights of the study, with some perspectives specific to smaller insurance companies and international product development processes that can help you benchmark your own product development process.

Donna Megregian, FSA, MAAA is a member of the research team for the SOA project on understanding the Product Development of Individual Life Insurance and Annuity products. She is Vice President and Actuary in the US mortality markets division of RGA, with responsibilities of managing RGA’s actuarial services. These actuarial services include product development, competitive intelligence, benchmarking and general industry knowledge. Before joining RGA in 2013, Donna was a consulting actuary with the Indianapolis office of Milliman focusing on product developing of life and annuity insurance products. Before Milliman, Donna worked in product development for Lincoln Financial, Zurich Life and CNO Financial. Show volunteers on American Academy of Actuary committees as chair of Life Illustrations work group and member of the nonguaranteed element and Nonforfeiture improvement workgroups. He is chair of the product track for the life and annuity symposium, and on organizations committees for the annual meeting and underwriting issues and innovation seminar. Donna frequently speaks for industry meetings and writes for various industry publications and was chosen as an SOA Outstanding Volunteer in 2013.

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