The Standard, also known as Standard Insurance Company, is a leading provider of insurance and financial products, dedicated to helping individuals and businesses achieve financial security and peace of mind. Headquartered in Portland, Oregon, The Standard operates across the United States, offering a wide range of insurance and financial services. With a commitment to customer-centric service, innovation, and integrity, The Standard supports its clients through all stages of life and business.
Services and Solutions
The Standard provides a comprehensive suite of insurance and financial products designed to meet the diverse needs of its clients. Key service areas include:
- Life Insurance: The Standard offers various life insurance products, including term life, whole life, and universal life insurance. These products provide financial protection for policyholders and their beneficiaries, ensuring peace of mind and financial security.
- Disability Insurance: The company provides short-term and long-term disability insurance, offering financial protection for individuals in the event of illness or injury that prevents them from working.
- Retirement Solutions: The Standard delivers comprehensive retirement planning solutions, including individual retirement accounts (IRAs), 401(k) plans, pension plans, and annuities. These products help individuals accumulate savings and generate income during retirement.
- Group Insurance: The Standard offers group insurance products, including life, disability, dental, and vision insurance, to employers. These products help businesses attract and retain top talent while providing valuable benefits to employees.
- Individual Annuities: The company provides individual annuity products, including fixed, indexed, and immediate annuities, to help clients grow and protect their retirement savings.
Actuarial Opportunities
The Standard offers a range of opportunities for actuaries, particularly within its life insurance, disability insurance, and retirement solutions divisions. Actuaries at The Standard play a crucial role in product development, pricing, risk assessment, and financial forecasting. Key areas where actuaries contribute include:
- Product Pricing: Developing and implementing pricing strategies for various insurance and financial products to ensure competitiveness and financial sustainability.
- Risk Management: Analyzing and managing the risks associated with insurance and investment products to maintain the company's financial strength and stability.
- Data Analysis and Modeling: Leveraging advanced data analytics and modeling techniques to analyze market trends, forecast financial outcomes, and support decision-making processes.
- Financial Reporting and Compliance: Ensuring that products and services comply with regulatory requirements and industry standards. This includes preparing actuarial reports and maintaining actuarial documentation.
- Research and Development: Conducting research on emerging trends, market dynamics, and innovative solutions to enhance The Standard’s product offerings and service capabilities.
Employee Benefits and Compensation
The Standard is dedicated to attracting and retaining top actuarial talent by offering competitive compensation and a comprehensive benefits package. Key benefits include:
- Health and Wellness: The Standard provides comprehensive health insurance plans, including medical, dental, and vision coverage. The company also offers wellness programs and resources to support employee health and well-being.
- Retirement and Savings: Employees have access to retirement savings plans, including a 401(k) plan with company match, to help secure their financial future.
- Work-Life Balance: The Standard supports flexible work arrangements, including remote work options and flexible scheduling, to help employees achieve a healthy work-life balance.
- Professional Development: The company invests in employee growth through various learning and development programs, including tuition assistance, leadership training, and career advancement opportunities.
- Paid Time Off: Generous paid time off policies, including vacation, holidays, and personal leave, are provided to ensure employees can recharge and maintain a healthy work-life balance.
Business Divisions
The Standard operates through several key business divisions, each specializing in different areas of insurance and financial services:
- Life Insurance: Provides a variety of life insurance products, including term life, whole life, and universal life insurance.
- Disability Insurance: Offers short-term and long-term disability insurance, providing financial protection in case of illness or injury.
- Retirement Solutions: Delivers comprehensive retirement planning solutions, including IRAs, 401(k) plans, pension plans, and annuities.
- Group Insurance: Provides group life, disability, dental, and vision insurance to employers, helping businesses offer valuable benefits to their employees.
- Individual Annuities: Offers fixed, indexed, and immediate annuities to help clients grow and protect their retirement savings.
Summary
The Standard is a leader in providing innovative insurance and financial solutions, dedicated to helping individuals, families, and businesses achieve financial security and peace of mind. With a strong presence in the United States and a commitment to exceptional service, The Standard offers comprehensive financial products and a supportive work environment, making it an attractive employer for actuaries and other financial professionals. Actuarial professionals looking for opportunities at The Standard can expect to find a dynamic workplace that values innovation, professional development, and employee well-being.