Director, Actuarial Services
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About The Position
About TRUE: Trusted Resource Underwriters Exchange (TRUE) is a reciprocal insurer established in 2020 to serve homeowners in storm-prone regions of Florida and other parts of the country. At the end of 2023, Gallatin Point Capital acquired a majority stake in the attorney-in-fact for TRUE and raised over $1.25 billion of committed capital, enabling TRUE to not only provide more underwriting capacity in Florida, but also allow it to strategically expand its homeowners product offering and footprint nationally. TRUE utilizes a partnership distribution model through new and existing partnerships as it enters a new phase of exciting growth. We are seeking strong talent with a passion for insurance to join our growing Product and Pricing organization at TRUE. The Director of Actuarial Services' responsibilities include overseeing the actuarial group and working closely with the product and product compliance teams to ensure that TRUE is delivering best-in-class products that promote profitability and growth, and expansion to new markets. This position offers an excellent opportunity to interact with a variety of business and process leaders across TRUE, including Government Affairs, IT Leadership, Partner Management, Operations, Claims, etc. The Director of Actuarial Services will develop and implement actuarial strategies aligned with business goals and regulatory requirements, ensuring overall rate adequacy and improving rating and underwriting sophistication. This role involves developing pricing for new products and existing products entering new geographies, working closely with the product implementation team to ensure all business requirements are met and rules and rates are tested after development. The Director will also serve as an Appointed Actuary, assist the Chief Underwriting Officer in the annual reinsurance placement, and ensure reinsurance costs are properly allocated within the pricing of products. Additionally, the Director will ensure all data calls are submitted timely and accurately, work with state departments on various Market Conduct Exams, and leverage the actuarial teams at TRUE to make recommendations to senior leaders while setting reserves and IBNR. Mentorship and development of the actuarial team members is also a key responsibility, along with managing existing vendor relationships and vetting potential vendors needed for future state/product development.
