US-based AXA Equitable Life Insurance Company has elected Claude Methot as the new executive vice president of life and annuity product development.

Mr Methot, a member of the company’s executive management committee, is responsible for the strategic development, management and implementation of business plans for AXA Equitable life insurance and annuity products. He will report to Christopher Condron, chairman and CEO of AXA Equitable.

In this key role, Mr Methot is charged with identifying client product and service needs, leading competitive analysis, developing new products and enhancing the features of existing ones, and coordinating all product operations support. In addition, he plays a key role in the company’s customer retention initiatives.

Teaming with the company’s actuarial and finance areas, Mr Methot is responsible for assuring appropriate product pricing, asset/liability match, risk analysis and underwriting approach.

Mr Methot joined AXA Equitable in September 2007 as the senior vice president and chief product officer. He came to AXA Equitable from its parent organization, the global AXA Group, where he most recently served as a senior vice president in charge of offer and innovation for life and property and casualty in group marketing.