About
Paul Hance
CEO of Annum. An actuary and insurance executive with a career spent leading large-scale change inside life and annuity companies, who now builds the technology to make that change faster.
For two decades, Paul helped some of the largest insurance companies in the country keep their promises to people who had paid in for decades. Paul has held 15 leadership roles, including five chief actuary roles, three CRO roles, a CFO role, and P&L ownership at both company and divisional level. Most of those roles involved major organizational transformation.
Paul led the analysis and optimization of transactions to Bermuda for multiple companies, freeing up multiple billions in capital, and served as Chief Actuary and CRO of a Bermuda entity, with experience spanning Bermuda reporting, capital management, ALM optimization and transactions.
Throughout, Paul's teams have posted engagement scores consistently more than ten points above industry benchmarks. Large change only lasts when the people doing the work are bought into it.
Selected transformations
- Merged two companies, delivering two PGAAP conversions in two years Undid and re-did LDTI for one company while implementing LDTI for the other at the same time.
- Consolidated 15 legacy versions of 4 different modeling platforms onto the latest version of a single modeling system Delivered early, under budget and on scope.
- Replaced an outsourced BPO and administration system with a new BPO and administration system On time, on budget and on scope.
- Merged 7 business units by unifying their processes and modeling system Reduced expenses by 30% while improving quality and analytics.
Why Annum
Paul founded Annum to bring together two things that rarely sit in the same room: deep actuarial and executive judgment, and modern software and AI engineering. Paul still writes core code for Annum's actuarial engine.
Paul works alongside a senior engineering lead with more than thirty years building software and serving as a start-up CTO, and an AI lead who helps shape how Annum applies AI. Together they partner with insurance companies to reduce friction, increase efficiency and put AI to work across finance and actuarial.