Associate Actuary (REMOTE)
About The Position
The Associate Actuary will work in The Hanover’s Commercial Lines Actuarial department and have pricing responsibility for the Commercial Auto line of business across Small Commercial and Middle Market. The role supports a book of business exceeding $300 million in a line described as particularly profitability-challenged, and calls for an innovative, analytical, and business-oriented actuarial approach. The position reports to the Actuarial Manager of Commercial Auto. Ratemaking work includes rate indications, loss trends, loss-ratio projections, account segmentation, and related initiatives. The Associate Actuary will lead state rate revisions, forecast IBNR, and use predictive analytics to support implementation of a new product and pricing platform. The role involves close collaboration with State Management, Underwriting, field leadership, and other Commercial Lines actuarial pricing teams to support profitable growth across the Core Commercial organization. This is a full-time, exempt role based at the Worcester, Massachusetts corporate headquarters or at a remote work location. The Hanover describes career support through on-the-job experiences, personalized coaching, and learning and development programs. Compensation may vary based on geographic location and other factors; additional compensation may include annual bonuses, long-term incentives, or spot recognition awards. The posting does not specify a salary range.
Requirements
- Bachelor’s degree or higher in a relevant technical field.
- Five or more years of technical experience in multiple lines of business and/or actuarial disciplines such as pricing, reserving, or predictive modeling.
- ACAS designation or higher, or equivalent work experience.
- Detailed understanding of actuarial concepts and methods, with the ability to research and employ new techniques as project requirements dictate.
- Advanced Microsoft Office skills, including Excel.
- Intermediate programming skills, SQL preferred, including the ability to develop and automate processes.
- Advanced communication skills and the ability to explain technical concepts to non-technical audiences.
- Ability to multitask and meet deadlines while producing quality work.
Nice To Haves
- Experience with predictive modeling.
Responsibilities
- Develop actuarial rate indications and assumptions.
- Lead annual rate revision analyses, filings, and objection management.
- Use predictive analytics to implement a new auto product and pricing platform.
- Monitor and analyze profitability and provide recommendations to business partners.
- Communicate technical analysis to business partners and upper management.
- Analyze the book of business and collaborate with field leadership to understand relevant activities and trends.
- Collaborate with other Commercial Lines actuarial pricing teams.
- Incorporate industry and other external benchmarks into analyses.
- Build efficiencies and improvements into existing processes.
- May lead or participate in community recruiting and/or training activities.
- Forecast IBNR and conduct ratemaking analyses, including loss trends, loss-ratio projections, and account segmentation.
Benefits
- Medical insurance
- Dental insurance
- Vision insurance
- Life insurance
- Disability insurance
- 401(k) with company match
- Tuition reimbursement
- Paid time off (PTO)
- Company-paid holidays
- Flexible work arrangements
- Cultural Awareness Day in support of IDE
- On-site medical/wellness center at the Worcester location
- Career development through on-the-job experiences, personalized coaching, and learning and development programs
- Potential annual bonus, long-term incentive, or spot recognition awards
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Mid Level
