Job
Description
Principal Product Manager, Insurance As a recognized authority and leading contributor within their practice, this senior-level consulting position provides consistent high quality and innovative solution leadership to a project team. Leads the solution design and implementation aspects of engagement(s) ensuring high quality, integrated software solutions within constraints of time and budget. The Product Manager (PM) will lead the development of a calculations engine for insurance accounting calculations, covering earned and unearned premiums, insurance premium tax, IBNR (Incurred But Not Reported), DAC (Deferred Acquisition Costs), ALAE (Allocated Loss Adjustment Expenses) and ULAE (Unallocated Loss Adjustment Expenses); and for reinsurance ceded financials , covering ceded premiums, ceded commissions, ceded claims, ceded IBNR, ceded ALAE and ceded ULAE. He/she will have a strong understanding of different types of reinsurance arrangements (e.g., proportional, non-proportional, excess of loss, quota share, stop loss) and reinsurance pooling structures . He/she will collaborate closely with cross-functional teams to design, develop, and implement a scalable, accurate, and efficient calculations engine that automates and improves reinsurance financial processing. Key Responsibilities: Develop and implement automated calculations for insurance accounting. Develop and implement automated calculations for ceded financials under various reinsurance arrangements and pooling structures. Work closely with customer actuarial and finance teams to translate treaty terms into precise financial calculations. Collaborate with internal engineering teams to build scalable, high-performance computational models. Design robust auditability, traceability, and reconciliation mechanisms for calculations. Ensure seamless integration with external (e.g., policy administration systems, claims processing platforms, general ledgers etc.) and internal (accounting foundation, data visualization etc.) tools. Qualifications: Required: Deep knowledge of insurance accounting calculations, including earned/unearned premium, DAC, IPT, IBNR, ALAE and ULAE. Strong understanding of reinsurance accounting principles, including ceded financials, IBNR, ULAE, and ALAE calculations. Familiarity with different types of reinsurance structures (proportional, non-proportional, pooling mechanisms). Experience working with actuarial models, reinsurance contracts, and regulatory reporting. Understanding of IFRS 17, US GAAP, Solvency II, and statutory accounting principles. Given preference: Completion of or progress towards actuarial fellowship given preference Hands-on experience with data platforms, financial calculations engines, or cloud-based analytical tools. Experience in Agile methodologies, product roadmaps, and backlog management. Ability to collaborate with actuaries, finance teams, and engineers. Excellent communication skills, capable of bridging the gap between technical and non-technical stakeholders.
