Commercial Lines Pricing Actuary - Hybrid

NJM Insurance Group•Trenton, NJ

7d•$116,749 - $147,145•Hybrid

About The Position

The Actuary will support NJM’s efforts to attract new policyholders, retain existing policyholders, and honor our commitment to pay claims by developing fair and competitive pricing, providing comprehensive product analysis, and ensuring that NJM maintains a strong financial position. This role is hybrid working 3 days in the West Trenton, NJ office and 2 days from home. The Commercial Lines department conducts business for policyholders and preferred agencies within the Mid-Atlantic region, specifically NJ, PA, NY, MD, DE, CT. Products include Commercial Auto, G/L, Workers Comp, BOP, Excess/Umbrella, and Package. The Commercial Lines function encompasses Underwriting, Sales, Operations, Premium Audit, Product Management, Product Development, Loss Prevention and Business Process Unit.

Requirements

Bachelor’s degree in actuarial science, mathematics, statistics, or related field.
Property and casualty actuarial experience.
Proficiency in Microsoft Excel, Word, and PowerPoint.
Excellent verbal and written communication skills.

Nice To Haves

Experience with SQL, SAS, or other programming languages a plus.
ACAS or FCAS credential.

Responsibilities

Perform pricing studies to evaluate the profitability of our Auto, Workers’ Compensation, and Commercial Package insurance products.
Analyze rating variables based on company data and competitor information and recommend changes.
Perform analysis of frequency, severity, and premium trends.
Perform analysis of loss and LAE reserves.
Assist with the annual loss and LAE ratio planning process.
Collaborate with cross-functional teams to develop business insights and recommendations.
Contribute to the ongoing development of actuarial tools and processes to enhance the department’s capabilities over time.