Andrew Steenman
FSA, MAAA
Principal & Consulting Actuary
Chicago, IL, US
Andrew Steenman is a consulting actuary in Milliman’s Life and Financial Services Practice and is based in Chicago. He joined the firm in 2010.
Experience
Andrew consults on life insurance and annuity products and issues. His work has focused on universal life, universal life with secondary guarantees, fixed annuities, and indexed annuities. His experience extends across many contexts including corporate modeling and transformation, appointed actuary work, and financial reporting, including principles-based reserving, product development, mergers and acquisitions, and risk management.
Andrew has been a frequent speaker at SOA and local actuarial club meetings.
Before joining Milliman, Andrew worked in financial reporting for Lincoln Financial Group.
Publications and Presentations
- "Impact of VM-20 on life insurance product development," 2017, SOA sponsored research.
- "Universal life secondary guarantee insurance: Pricing and financial reporting considerations," 2012, Milliman sponsored research.
Professional Designations
- Fellow, Society of Actuaries
- Member, American Academy of Actuaries
Education
- BS, Actuarial Science, Purdue University
Affiliations
- SOA Marketing & Distribution Section Council Member, 2015 to 2017
- Officer or President for the Actuaries Club of Indiana, Kentucky, and Ohio, 2012 to 2017
Publications
Read their latest work
Article
Managed Variable Universal Life: Flexible risk management in life insurance
28 March 2024 - by Rahul Mohan, Patrick OuYang, Jordan Rosenfeld, Andrew Steenman, Karthik Yadatore
Managed variable universal life products, both flexible and customizable, offer enhanced cash value accumulation and death benefit protection for policyholders.
Article
Managed Variable Universal Life：生命保険における柔軟なリスク管理
28 March 2024 - by Rahul Mohan, Patrick OuYang, Jordan Rosenfeld, Andrew Steenman, Karthik Yadatore
フレキシブルかつカスタマイズ可能な、管理された変額ユニバーサル・ライフ商品は、より大きなキャッシュバリューの積立てと死亡保障を契約者に提供します。
Article
Impact of VM-20 on life insurance product development: Phase 2
14 August 2017 - by Paul Fedchak, Jacqueline M. Keating, Karen Rudolph, Uri Sobel, Andrew Steenman
Phase 2 of this research report expands on the Phase 1 case studies for term and universal life with secondary guarantees (ULSG) products and includes additional case studies focused on smaller companies and the impact of reinsurance.
Article
VM-20の生命保険商品開発への影響：フェーズ2（英語版のみ）
14 August 2017 - by Paul Fedchak, Jacqueline M. Keating, Karen Rudolph, Uri Sobel, Andrew Steenman
本調査レポートのフェーズ2では、フェーズ1の定期保険および二次保証付きユニバーサルライフ（ULSG）商品のケーススタディーを拡大し、小規模会社および再保険の影響に着目したケーススタディーを加えました。
Article
Impact of VM-20 on life insurance product development
10 January 2017 - by Paul Fedchak, Jacqueline M. Keating, Karen Rudolph, Uri Sobel, Andrew Steenman
This report summarizes changes to the product development process as a result of the introduction of principle-based reserves as required under Chapter 20 of the National Association of Insurance Commissioners Valuation Manual (VM-20) through the development of case studies for term and universal life with secondary guarantees products.
Article
生命保険商品開発に対するVM-20の影響（英語版のみ）
10 January 2017 - by Paul Fedchak, Jacqueline M. Keating, Karen Rudolph, Uri Sobel, Andrew Steenman
本レポートは、全米保険監督官協会責任準備金評価マニュアル（National Association of Insurance Commissioners Valuation Manual）の第20章（VM-20）が求めるプリンシプルベースの責任準備金が導入されたことによる商品開発プロセスの変化を、定期保険商品および二次的保証のあるユニバーサルライフ商品のケーススタディーを通して概説します。
Article
Universal life secondary guarantee insurance: Pricing and financial reporting considerations
29 February 2012 - by Andrew Steenman
A discussion of pricing and financial reporting aspects of universal life products with long-term secondary guarantees.