Actuarial Analyst Sr - Digital Underwriting

Munich Re Careers•New York, NY

10d•$96,100 - $140,900•Onsite

About The Position

Munich Re Specialty - North America is seeking a Sr. Actuarial Analyst to provide actuarial pricing/rating support for their Digital Underwriting division. This role will support the analysis, evaluation, modeling, and rating of potential competitive solutions for clients, contributing to profitable growth across existing and new programs in alignment with Munich Re Group’s multi-year strategy. The position involves partnering with the business unit as a trusted advisor to drive pricing excellence in lines of business such as Excess & Surplus Homeowners, Commercial Property, and General Liability.

Requirements

Bachelors Degree in Mathematics, Actuarial Science, Economics, Business or related field.
Passed at least four (4) Casualty Actuarial Society exams.
At least three (3) years of insurance/reinsurance and actuarial pricing experience.
Good technical actuarial skills.
Understanding and ability to discuss and apply the use of existing & new actuarial concepts/techniques involving exposure adjustments, trend, loss development, exposure rating, et al with some assistance/guidance.
Proficient computer skills in MS Office Suite, including PowerBI to be used for ratemaking, pricing, modeling stochastic distributions or data analysis.
Excellent oral and written communication skills.
Good judgmental and problem-solving skills to address potentially complex and high-profile issues.
Good time management and organizational skills including the ability to manage conflicting priorities, complete multiple tasks and projects.

Nice To Haves

Experience in use of R, Python, SAS or other statistical software in insurance pricing applications is preferred.

Responsibilities

Partner with the business unit as a trusted advisor to drive pricing excellence for Digital Underwriting, including Excess & Surplus Homeowners, Commercial Property and General Liability lines of businesses.
Prepare and complete pricing analyses, including the development of rates, ultimate loss projections and trend studies with some guidance. Communicate results of analyses to stakeholders.
Participate in development and update of actuarial models and databases through formula development, research on methodologies, and collaboration on technical teams.
Support result monitoring, pricing and portfolio management projects that will assist underwriters and management in understanding and steering business. Document and communicate assumptions, results, and alternatives to actuarial staff and internal and external clients.
Identification of data issues requiring specialized actuarial attention.
Perform research on relevant competitor rates and industry trends which will serve as benchmarks for pricing.
Provide actuarial insight and expertise on actuarial assumptions and parameters as participant on a Market Research Analysis and Parameters (MRAP) line of business group.
Work closely with underwriting, data science and engineering teams to resolve any issues during testing and integration of the pricing models and algorithms.

Benefits

health insurance coverage
employee wellness program
life and disability insurance
401k match
retirement savings plan
paid holidays
paid time off (PTO)
Two options for your health insurance plan (PPO or High Deductible).
Prescription drug coverage (included in your health insurance plan).
Vision and dental insurance plans.
basic life insurance equal to 1x annual salary
AD&D coverage that is equal to 1x annual salary.
Short and Long Term Disability coverage.
Supplemental Life and AD&D plans
Voluntary Benefit plans (Accident, Critical Illness and Hospital Indemnity).
A robust 401k plan with up to a 5% employer match
A retirement savings plan that is 100% company funded.
Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
Eligibility to receive a yearly bonus
A variety of health and wellness programs provided at no cost.
Paid time off for eligible family care needs.
Tuition assistance and educational achievement bonuses.
A corporate matching gifts program that further enhances your charitable donation.
Paid time off to volunteer in your community.