Product Development Actuary

Product Development Actuary – Global Life and Health

About the opportunity

Are you an ambitious actuary who wants to do more than analyse products — someone who wants to shape them, bring ideas to life and help build a growing business?

Lumos is looking for a talented and commercially minded Product Development Actuary to support the development and growth of our US and global life and health business.

This is an opportunity to play a pivotal role in developing innovative insurance solutions, combining strong actuarial expertise with commercial thinking, product innovation and hands-on delivery. You will work across a range of disciplines and geographies, helping turn business opportunities into compelling, financially sustainable and market-ready products.

We are looking for someone who is curious, entrepreneurial and proactive: a self-starter who takes ownership, challenges conventional thinking and has the drive to move ideas forward.

We support hybrid working, with a preference for working from our London, UK office.

More detail to be included in role specification:

What you’ll do

• Develop new products: Lead and support the design, pricing and development of health and care insurance products, from initial concept and market assessment through to launch and ongoing performance monitoring.
• Understand the US market: Apply your knowledge of the US insurance market, regulatory environment and US GAAP to ensure products are commercially attractive, financially robust and compliant.
• Support global growth: Contribute to product development opportunities beyond the US, adapting propositions to different markets, customer needs and regulatory frameworks.
• Bring disciplines together: Work closely with colleagues across actuarial, finance, accounting, underwriting, investments, risk, legal, operations and distribution to develop integrated solutions.
• Drive commercial outcomes: Assess product economics, profitability, capital requirements, financial reporting implications and key risks, translating complex analysis into clear recommendations.
• Turn ideas into reality: Take ownership of workstreams, resolve challenges and coordinate stakeholders to progress initiatives from strategy and design through implementation.
• Support strategic decision-making: Prepare robust analysis and recommendations for senior stakeholders, helping shape product strategy and business priorities.
• Continuously improve: Identify opportunities to improve product design, pricing approaches, processes and the use of data and modelling.

What we’re looking for

Essential experience and capabilities

• Qualified actuary, with relevant experience in life, health, care or related insurance markets.
• Strong knowledge of the US insurance market, including relevant regulatory requirements.
• Practical understanding of US GAAP and US capital requirements, and its implications for insurance product design, profitability and return on capital.
• Experience in actuarial product development, pricing, product management or a closely related discipline.
• Strong analytical and problem-solving skills, with the ability to translate technical work into commercial insight.
• Excellent communication and stakeholder-management skills, including the ability to work effectively across different functions and seniority levels.

Personal attributes that will make you successful

• Ambitious and driven: Motivated to make an impact, develop professionally and contribute to the growth of the business.
• A self-starter: Comfortable operating with autonomy, identifying what needs to be done and taking the initiative.
• A delivery-focused problem-solver: Able to navigate ambiguity, overcome obstacles and turn ideas into tangible outcomes.
• Collaborative: Enjoys bringing together different perspectives and working across disciplines to achieve shared objectives.
• Commercially minded: Balances actuarial rigour with customer needs, market opportunities and business economics.
• Adaptable and curious: Willing to challenge established approaches, learn quickly and contribute across a broad range of projects.

Why join Lumos?

This is a chance to have a meaningful influence on the development of a growing health and care business, with exposure to US and international markets and the opportunity to work alongside colleagues from across the organisation.

You’ll have the scope to take ownership, contribute to strategic decisions and see the direct impact of your work on the products we develop and the business we build.

If you combine strong actuarial fundamentals with commercial ambition, initiative and a desire to make things happen, we’d love to hear from you.