executive vice president & chief actuary, American National
The Product Review Committee’s responsibility is to prioritize which product projects the Actuarial department works on. This is really for life and annuity —that’s the focus. Then to review the results of the products once they’re priced. And then recommend if they should be implemented or not. Then that recommendation goes to the Product Approval Committee, which is mainly comprised of the senior leaders of the company.
The Product Review Committee is made up of a cross-functional group — really hitting all the major areas in the organization. Of course, Actuarial is there, the pricing folks as well as the marketing intel and filing teams. Marketing, all the marketing channels have a representative there. CTS is represented. Compliance. And then administration, with New Business representation as well as Underwriting.