Actuarial Analyst I (Commercial Lines)
About The Position
The Product Actuarial Analyst I (Commercial Lines) will be responsible for pricing property and casualty insurance products with a focus on rate indications and profitability improvements. This involves compiling and interpreting both internal data and market data. Partner with business profit centers to support profitable growth goals and strategies. Duties will be performed with some guidance from the manager. This role will have the option to work a hybrid schedule at our Columbus, Ohio or Charleston, WV location. We can hire at multiple seniority levels depending on candidate qualifications. Compensation range shown is exclusive to the Actuarial Analyst I job profile. If you are better qualified at another level, this will be discussed during the process. Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll. Our current footprint includes: Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin.
Requirements
- A B.A. or B.S. degree is required, with preference given to majors in mathematics, statistics, or actuarial science.
- A minimum of one year of actuarial experience is preferred.
- A minimum of two actuarial exams, with commitment to ongoing pursuit of actuarial credentials from the Casualty Actuarial Society, is preferred.
- Strong spreadsheet (Excel) skills.
- Developing strong analytical and problem-solving skills.
- Developing strong communication skills to relay complex technical material to a variety of audiences.
- Comfortable using AI and automation as part of their daily work.
- Understands commercial lines products, pricing, and regulatory requirements.
- Able to quickly research and synthesize state filings, circulars, and market changes.
Nice To Haves
- Programming experience preferred (SAS, SQL, R, Python).
Responsibilities
- Develop rate indications following standard actuarial practices.
- Review specific components of rating plans using internal profitability data and competitive analysis.
- Calculate impacts of proposed rate, rule, and form changes.
- Prepare rate filings and work with state insurance departments as needed to gain regulatory approval.
- Track changes made by ISO and the Workers Comp rating bureaus.
- Present findings, predicted outcomes or implications, and recommendations to business partners.
- Support maintenance and development of actuarial pricing models.
- Provide clear documentation as part of governance processes.
- Ad hoc analyses or reporting to support business partners and provide actuarial background on financial results.
- Mentor and train technicians and interns.
- Perform other duties as assigned.
Benefits
- Health, Dental & Vision Insurance
- Company-provided life and income protection plans
- Eligibility to participate in a company incentive bonus program
- 401(k) Retirement Plan - 100% company match up to 7% on annual salary
- Paid Time Off, Paid Holidays, and Floating Holidays
- Flexible Work Arrangements - Hybrid and remote depending on the role
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
