Product Development

AZA provides product development for life and health insurance companies, Health Maintenance Organizations, Preferred Provider Organizations Managed Care Organizations, and Multiple Employer Welfare Associations.

We help with company strategy, value proposition and long-term competitiveness by helping transform market opportunity and technical capabilities into products that meet distribution and consumer needs while adding value to the company.

AZA Product development will help your company stay profitable and competitive while accommodating the ever-changing market conditions, regulatory standards and secular growth trends.

To develop, or improve, products we help clients understand the current components of the process and then provide solutions utilizingactuarial modeling.

Product Development components:
  • Strategies and Process
  • Understanding the Organization and Resources
  • Mapping Steps and Timelines
  • Regulation and Compliance
  • Idea Generation
  • Product Concept and Feasibility
  • Develop actuarial assumptions and testing their appropriateness
  • Calculating Expenses (Fixed and Variable)
  • Distribution and Channel Marketing
  • Reviewing administration procedures
  • Profit testing
  • Scenario testing
  • Review and Monitoring Results
Our Product Development AZ Actuarial services capabilities include the following types of insurance:
  • Permanent Life
  • Term Life
  • Indeterminate Premium Life
  • Universal Life
  • Individual and Variable Annuities, single and flexible premium deferred annuities
  • Structured Settlement Annuities
  • Ancillary life benefits including waiver of premium, accidental death and dismemberment, guaranteed insurance ability options, accelerated payment and others.
  • Major Medical products
  • Medicare Supplement
  • Disability Income
  • Limited Benefits
  • Dental
  • Vision
  • Critical illness
  • Accident only
  • Student Accident
  • Specialty

Contact us today to help with your product development actuarial needs.