Areas of Expertise: Lost Profits Damages; Lost Profits Analysis; Actuary; Captive Insurance; Health Insurance; Insurance Fraud; Insurance Practices & Standards; Life Insurance; Reinsurance; Risk Management; Self-Funded Insurance Plans.
Jim Toole is an industry leader and sought-after partner providing high-impact expert and consultative services at the intersection of risk and reward. Jim brings passion and more than 35 years of experience to every project. As a boutique consultancy serving U.S., Asian, and Latin American markets, the number of active engagements at Aurora Actuarial is limited to ensure focused attention and clear communication, with no surprises.
Mr. Toole has served as appointed actuary for both life and health companies, the health actuary for the state of Hawaii, and was responsible for the formation of the first life insurance company in North Carolina in over 25 years. Prior to forming Aurora Actuarial in 2022, Mr. Toole led the life and health actuarial team at FTI Consulting; before joining FTI, Mr. Toole helped establish the Latin America practice of a global actuarial consulting firm as the premier provider of merger and acquisition services in the region.
Mr. Toole's background includes expert witness, M&A, product development, financial reporting, audit, and regulatory roles. Mr. Toole's life experience includes term; whole life; universal, variable and interest sensitive products; deferred and immediate annuities; as well as a variety of riders and stand-alone products. In addition, he has worked extensively with reinsurance, life settlements, and COLI/BOLI products.
Mr. Toole's health experience spans large group, small group, and individual products; self-insured plans; multiple employer welfare arrangements; voluntary work-site products; and cancer, limited benefit, and other specialty products. Health policy interests include medical errors, health disparities, community benefit, and health impact assessments.
Mr. Toole is a frequent speaker and has written and/or edited articles for numerous industry publications. He was co-editor and author of the textbook “Insurance Industry Mergers and Acquisitions”, published by the Society of Actuaries (SOA) in Spring of 2005. In 2010, he served as lead researcher on SOA projects to quantify the potential impact of a pandemic on the U.S. life and health insurance industries.
Mr. Toole has been active in SOA professional activities for over 25 years. He served two terms on the Board of Directors and is former Chair of both the International and Health Sections of the SOA. In 2009 he became a Certified Enterprise Risk Analyst as a result of his contributions in the field of Enterprise Risk Management. Mr. Toole currently serves as vice chair of the Individual Life Experience committee (ILEC) which is responsible for analyzing the mortality experience underlying the SOA VBT mortality tables.