Actuarial Analyst OR Senior Actuarial Analyst, F&I Pricing

Zurich Insurance Group • Chicago, NY

4d • Hybrid

About The Position

Zurich is hiring an Actuarial Analyst or Senior Actuarial Analyst for its Finance & Insurance (F&I) Actuarial Pricing Team. F&I products are primarily sold at automotive dealerships as part of the new-car buying process and include Vehicle Services Contracts, Guaranteed Asset Protection, and Road Hazard, Tire, & Wheel coverage.

In this individual-contributor role, the analyst serves as a primary point of contact and resource for underwriters and underwriting managers. The role involves working independently on account pricing and leading more complex analytical work, including developing account-based model pricing structures, analyzing profitability, and supporting transactional and strategic account decisions. The analyst also supports and trains underwriters in pricing and loss forecasting concepts, model outputs, and tools.

The position offers exposure to casualty lines, business segments, and customers and prospects, as well as underwriting insights and business knowledge. The analyst is expected to stay current with regulatory and market conditions and apply that knowledge to pricing solutions and recommendations. The role is hybrid and based in Chicago or Schaumburg, Illinois; New York City; or Overland Park, Kansas. The position may be filled at either the Actuarial Analyst or Senior Actuarial Analyst level, with the level determined by the hiring manager based on the selected applicant’s experience and skills.

Requirements

• For the Actuarial Analyst level: Zurich Certified Insurance Apprentice, including an associate degree, or a bachelor’s degree.
• For the Actuarial Analyst level: Successful completion of 5 or more actuarial exams applicable to the FCAS designation or equivalent international certification, with 2 or more years of experience in the actuarial area; alternatively, successful completion of 3 or more applicable actuarial exams with 3 or more years of actuarial experience.
• For the Senior Actuarial Analyst level: Bachelor’s degree in Mathematics, Statistics, or Actuarial Sciences and 5 or more years of experience in the actuarial area.

Nice To Haves

• Property & Casualty actuarial pricing experience.
• Experience with Microsoft Excel and/or knowledge of statistical analysis software.
• Strong verbal and written communication skills.
• Ability to explain technical analysis results to non-technical audiences.
• Established goal to obtain ACAS and eventually FCAS.

Responsibilities

• Serve as a primary point of contact and resource for underwriters and underwriting managers.
• Work independently on account pricing and lead complex analytical work.
• Assist with developing account-based model pricing structures and leverage profitability analysis.
• Partner with regional business leaders and underwriters on transactional and strategic account decisions.
• Provide actuarial calculations for risk transfer analysis, large complex loss forecasts, unique rating plan structures, and large account collateral needs.
• Support and train underwriters in pricing and loss forecasting concepts, model outputs, and tools.
• Provide a feedback channel so issues faced by tool users can be addressed by tool designers.
• Participate in internal audits and occasional meetings with brokers, outside actuarial consultants, and customers.
• Understand profit drivers across portfolio and book segments and communicate insights as needed.
• Provide leadership with recommendations on key parts of the large account book of business to help drive strategic profit and growth.
• Develop strategic partnerships with business segment leadership, portfolio managers, and underwriters.
• Help underwriters support deal proposals with sound rationale for rate increases, term changes, coverage adjustments, and other decisions beyond simply relying on model output.
• Manage stakeholder demands and ensure predictable and timely completion of work.
• Remain current with regulatory and market conditions and apply this knowledge to pricing solutions and recommendations.

Benefits

• May be eligible for bonuses and merit increases.
• Short-term incentive bonus eligibility of 10% for the Actuarial Analyst level.
• Short-term incentive bonus eligibility of 15% for the Senior Actuarial Analyst level.
• Growth, inclusion, and a supportive environment.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level