Who We Are
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities.
BCG was the pioneer in business strategy when it was founded in 1963. Today, we help clients with total transformation-inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact.
To succeed, organizations must blend digital and human capabilities. Our diverse, global teams bring deep industry and functional expertise and a range of perspectives to spark change.
BCG delivers solutions through leading-edge management consulting along with technology and design, corporate and digital ventures-and business purpose.
We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, generating results that allow our clients to thrive.
Practice Area Profile
BCG's Insurance Practice serves four industry sectors : 1 Life insurance , 2 Property & Casualty , 3 Commercial & Reinsurance and 4 Health , as well as Insurance brokerage firms.
The practice works on the full range of issues of concern to top management, from strategy to operating model redesign, 5 digital transformation, cost, process improvement , 6 risk management strategy, asset management, product development, customer focus, and sales force effectiveness .
We have a strong global network and "on-the-ground" experience in all major markets. The Global Practice currently comprises over 200 senior staff and works in Europe, Middle East, the Americas, and Asia Pacific, with a total of 44 insurance active offices worldwide.
Our client base is the world's leading global and regional insurance and reinsurance companies and investment and wealth managers.
The members of the Insurance Team combine relevant regulatory, technical and analytical know-how with the BCG core competencies : planning, steering and strategy for top management.
We help companies identify and develop growth opportunities that reshape the future of the Insurance industry. We discover new avenues for value creation and provide process support during times of business transformation.
All of our work is underpinned by the tracking of megatrends in the industry and the publication of thought leadership.
What You'll Do
WHAT WE NEED
BCG is looking for an Expert Project Leader or Expert Associate Director focused in Life Insurance & Annuities to join our Insurance team and work alongside some of the world's top minds in the industry.
You will play a critical role in the growth of our Insurance practice through case execution, client development, and intellectual property and product creation.
The Life & Annuities sector is entering a new era as changing needs and expectations place new demands on existing players and create opportunities for innovation and new players to enter the market.
You will create value for our clients with forward-thinking solutions that help them address the operational, technical, and financial implications of changes in their business environment.
WHAT YOU'LL DO
As an Expert in the Insurance practice, you will have three broad roles :
Contribute to the business development of the insurance sector :
Apply your expertise to evaluate the operational, technical, and financial implications of strategic moves impacting life & annuities players, including capital management, ALM strategies, co-insurance and re-insurance, product and pricing strategies, M&A, and strategic partnerships, among others
Contribute to and drive leads and proposals together with the partners of the practice
Lead development of proposals from end-to-end where life & annuities expertise is critical
Engage with the development of additional business beyond the delivery of recommendations on client engagements
Develop the topic agenda, create respective content, and foster awareness of BCG's competence
Build expertise in our insurance sector (Life & Annuities sub-segment) within BCG and increase BCG's profile externally :
Develop and contribute to BCG's intellectual capital - work on BCG content projects to create new techniques and / or capture new ideas
Build and maintain "fact packs" related to specific life insurance and / or annuities topics so there is an ever-available library of educational materials for internal and client usage
Responsible for supporting the insurance sector in writing external reports, papers, social media contributions of its partners in concert with the INS practice's marketing lead
Identify conferences for BCG's attendance and help coordinate our participation
Lead and support execution of insurance projects :
Work jointly with BCG and client project leaders, bring expertise to the team, both on issues specific to the industry and on questions asked by the client
Support multiple case teams, co-lead modules, especially those in need for deep experience and hands-on approach to apply technical and / or actuarial expertise to life & annuities topics
Ensure the quality of the work, and the relevance of any synthesis and recommendations. Challenge work in progress, results, and re-orient any analyses if needed
Our Expert Consulting Track (ECT)
The Expert Consulting Track (ECT) is vital to BCG's ability to successfully meet our clients' demand for deep expertise and advanced technical capabilities.
Experts deliver next-level impact for BCG's most complex and cutting-edge client challenges. Experts focus on developing BCG's thought leadership, commercial capabilities, and intellectual property assets;
and their work is essential to our delivery model. Working as part of a multidisciplinary team to bring the 'best of BCG' to our clients, Experts come from diverse backgrounds, with expertise often gained outside of BCG in industry, academia, or specialized consulting.
What You'll Bring (Experience & Qualifications)
A minimum of 7 years' experience overall, with significant experience in operational, technical, and financial implications of strategic moves impacting US based life & annuities players, including :
Strong knowledge of the rationale behind strategic moves in the life & annuities space, including but not limited to capital management, ALM strategies, co-insurance and re-insurance, product and pricing strategies, M&A, and strategic partnerships
Strong knowledge of the financial implications of various actions on balance sheet, cash flows, and P&L on both a statutory and economic basis
Strong knowledge of product design, underwriting, pricing, and distribution strategies in the life & annuities sector
Able to advise on capital adequacy, sources of capital, and capital deployment to support strategic objectives and regulatory compliance.
Understanding of market and competitor trends, opportunities, and challenges affecting the life insurance and annuities sector
Strong leader, with clear evidence of people leadership and an ability to change organizations
Successful track record in interacting and in building lasting relationships at the highest levels in large and global insurance players
Developed solid problem-solving capabilities, analytical and structured and able to interface with consultant teams
Strong academics; advanced degree preferred; actuaries preferred
Team oriented mind-set and strong interpersonal communication skills
Excellent verbal and written communication skills in English
YOU'LL BE BASED IN :
We will consider candidates for our Boston, Chicago or New York offices.
YOU'LL BE TRAVELING :
Travel is expected and will vary based on project needs.
FOR U.S. APPLICANTS :
Boston Consulting Group ("BCG") is an Equal Opportunity / Affirmative Action employer. All qualified applicants will be considered for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by applicable law.
The first year base compensation for this role is :
Project Leader : $225,400 USD
Associate Director : $252,900 USD
In addition to your base salary, you will also be eligible for an annual discretionary performance bonus and BCG's Profit Sharing and Retirement Fund (PSRF) contribution.
BCG also provides a market leading benefits package described below.
At BCG, we are committed to offering a comprehensive benefit program that includes everything our employees and their families need to be well and live life to the fullest.
We pay the full cost of medical, dental, and vision coverage for employees - and their eligible family members. That's zero dollars in premiums taken from employee paychecks.
All our plans provide best in class coverage :
Zero dollar ($0) health insurance premiums for BCG employees, spouses, and children
Low $10 (USD) copays for trips to the doctor, urgent care visits and prescriptions for generic drugs
Dental coverage, including up to $5,000 (USD) in orthodontia benefits
Vision insurance with coverage for both glasses and contact lenses annually
Reimbursement for gym memberships and other fitness activities
Fully vested retirement contributions made annually, whether you contribute or not
Generous paid time off including vacation, holidays, and annual office closure between Christmas and New Years
Paid Parental Leave and other family benefits such as elective egg freezing, surrogacy, and adoption reimbursement
- Employees, spouses, and children are covered at no cost. Employees share in the cost of domestic partner coverage.
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