Associate Actuary - Wholesale & Specialty Insurance
About The Position
Munich Re Specialty - North America provides specialty property and casualty insurance solutions through select brokers, Managing General Agents, program administrators, cover holders, and insurtech partners. Its products include property, casualty, professional liability, and other specialty insurance solutions. The Associate Actuary provides significant support for pricing and monitoring the Wholesale & Specialty Insurance (WSI) business. The role supports new product launches and enhancements, develops pricing tools and analyses, contributes to actuarial models and databases, and assists with result monitoring and portfolio management. The position also documents and communicates actuarial assumptions and findings, identifies data issues, contributes expertise to a Line of Business Expert Group, and helps train colleagues and internal clients on actuarial analyses and methodologies.
Requirements
- Bachelor’s degree in a related field.
- Progress toward membership in the Casualty Actuarial Society, demonstrated by passing actuarial exams.
- Four or more years of experience in insurance pricing.
- Strong understanding of and ability to discuss and apply existing and new actuarial concepts and techniques, including exposure adjustments, trend, loss development, and exposure rating, with some assistance or guidance.
- Excellent communication and interpersonal skills, including the ability to explain technical concepts effectively to non-technical audiences.
- Experience using R, Python, SAS, or other statistical software in insurance pricing applications.
- Excellent oral and written communication skills.
Nice To Haves
- Experience supporting commercial or specialty insurance products.
Responsibilities
- Support the launch of new products and expand the capabilities of existing products for WSI lines of business.
- Develop and maintain pricing tools for account pricing and portfolio steering.
- Prepare and complete pricing analyses, including developing rates and ultimate loss projections and communicating results.
- Participate in developing and updating actuarial models and databases through formula development, methodology research, and collaboration on technical teams.
- Support result monitoring, pricing, and portfolio management projects to help underwriters and management manage and steer the business.
- Document and communicate assumptions, results, and alternatives to actuarial staff and internal clients.
- Identify data issues requiring specialized actuarial attention.
- Provide actuarial insight and expertise as a participant in a Line of Business Expert Group.
- Participate in training underwriters, client managers, risk analysts, accountants, and actuaries on actuarial analyses and methodologies.
Benefits
- Health insurance, including PPO or High Deductible plan options and prescription drug coverage.
- Vision insurance.
- Dental insurance.
- Basic life insurance equal to one times annual salary and AD&D coverage equal to one times annual salary, provided at no cost.
- Short- and long-term disability coverage.
- Supplemental life and AD&D plans available for employees and dependents.
- Voluntary accident, critical illness, and hospital indemnity benefit plans.
- 401(k) plan with up to a 5% employer match.
- Company-funded retirement savings plan.
- Paid time off beginning at 24 days per year, with additional days for milestone service anniversaries.
- Eligibility for a yearly company bonus.
- Health and wellness programs provided at no cost.
- Paid time off for eligible family care needs.
- Tuition assistance and educational achievement bonuses.
- Corporate matching gifts program for charitable donations.
- Paid time off to volunteer in the community.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
