Finance & FP&A — Insurance

You manage third-party provider performance through scorecards: TPAs on quality, cycle time, reserve accuracy, leakage; independent adjusters on response time and estimate accuracy; defense counsel on outcomes, ALAE, and billing compliance.

You prepare statutory financial statements per NAIC guidelines: the Annual Statement (Yellow Book), quarterly filings, IRIS ratios, RBC calculations, and Schedule P. You reconcile SAP (Statutory Accounting Principles) to GAAP and manage non-admitted assets.

You track combined ratios by line, state, program, and channel. You decompose into loss ratio (pure + ALAE + ULAE), expense ratio (commission, operating, other acquisition), and dividend ratio. You analyze loss ratio drivers: frequency vs. severity, large loss impact, cat vs. non-cat, prior year development.

Insurance investment portfolios are liability-driven: you match asset duration to loss reserve duration, manage liquidity for claim payments, and optimize yield within regulatory and rating agency constraints. SAP (Statutory Accounting Principles) accounting treatment (NAIC designations, SVO valuations) drives reported results differently than GAAP.