Actuarial Analyst I
About The Position
The Actuarial Analyst I supports the pricing of new/renewal business and development of effective premium/rating structure and strategies in support of business objectives while being introduced to basic ratemaking and insurance concepts. Calculates profit on new and renewal business. Coordinates, prepares and performs actuarial analysis. Supports Underwriters on pricing decisions. Essential Duties & Responsibilities: Learn and apply fundamental actuarial principles and apply when analyzing company and industry data to prepare for pricing analysis Support rating administration and stat coding on the policy administration system Support the annual profitability review process Support the review of portfolios’ historical financial performance Assist with preparation of rate and actuarial memorandums to support rate filing Support experience and rate indication studies to assess rate adequacy Support improvement efforts in order to increase consistency, efficiency, and compliance with internal standards Assist with the development underwriting rating tools and engines Other special projects as assigned Job Specifications:
Requirements
- Education: Bachelor’s degree in mathematics, actuarial sciences, statistics or related field.
- CAS Foundational Requirements: Two CAS exams preferred
- Experience: 0-2 years of related commercial property & casualty experience
- Knowledge, skills & abilities: Proficient in Microsoft products: Word, Excel, Outlook, Power Point, SQL
- Strong verbal and written communication skills
- Ability to be agile and thrive in a dynamic work environment
- Demonstrate an open-minded, team oriented and collaborative work style
Nice To Haves
- Knowledge of SAS, R, and data visualization software a plus
Responsibilities
- Learn and apply fundamental actuarial principles and apply when analyzing company and industry data to prepare for pricing analysis
- Support rating administration and stat coding on the policy administration system
- Support the annual profitability review process
- Support the review of portfolios’ historical financial performance
- Assist with preparation of rate and actuarial memorandums to support rate filing
- Support experience and rate indication studies to assess rate adequacy
- Support improvement efforts in order to increase consistency, efficiency, and compliance with internal standards
- Assist with the development underwriting rating tools and engines
- Other special projects as assigned
Benefits
- Annual incentive compensation
- Medical, dental, vision & life insurance
- Accident, critical Illness & short-term disability insurance
- Retirement plans with employer contributions
- Generous time-off program
- Programs designed to support the employee well-being and financial security.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
