Product development and pricing: Insurance — Life


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As markets in Central and Eastern Europe mature, life insurance and pension products new to these marketplaces are being introduced. With our global expertise in product development, Milliman offers broad experience in exploiting opportunities in product trends and advising how more sophisticated products might best be implemented.

Our background in developing CEE markets includes extensive work with a variety of guarantee types including index-linked and unit-linked products. We also have worked with developers of pension and protection products, including health insurance. We have offices in CEE countries, in major European markets, and worldwide, giving us valuable global perspective.

Our CEE work includes recent project experience in Poland, Romania, Russia, and Ukraine. We are able to tap both local resources through our consultants in Bucharest and Warsaw, as well as utilizing needed Milliman experts wherever they are located within our extensive global office network. We offer complete services in this critical area, including product design, pricing/profit testing including stochastic pricing of guarantees and contractual documentation, based on local regulatory requirements.

Innovative product design for new and mature markets

We have diverse product development experience around the CEE region. Recent work for clients includes projects such as these:

  • We provided product development and pricing support for the successful launch of a unit-linked product by a leading Polish insurer. This included developing a product design based on market and competitor analyses and profit testing using the client's existing modelling system.
  • A regional insurer turned to Milliman for assistance in entering the Romanian market. We provided a range of support, including assisting in the license application process and development of the initial product range for individual and group business. The assignment included preparation of technical notes, policy terms and conditions, product design, and profit testing for both traditional and unit-linked products.

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