Director or Sr. Director & Actuary
About The Position
The position is part of the Personal Insurance actuarial team primarily focused on rate adequacy for the Homeowners line of business ($1.4B in annual EP). While the position’s primary focus will be on Homeowners rate adequacy, there will be ongoing partnership with the Personal Insurance (PI) Homeowners planning and reserving teams, ASM, the PI Product team, and the enterprise Claims Analytics teams to ensure we have a cohesive message and understanding of the Homeowners product and results. This role will also partner with the Property Actuarial teams across Business Insurance to leverage insights, align strategies, and drive enterprise-wide business outcomes. As a key member of the Personal Insurance CW actuarial team, this individual will lead and perform a variety of analyses as it pertains to the Homeowners rate adequacy results. The successful candidate will be an expert in understanding the Homeowners environment and will continue to drive our understanding of rate adequacy deeper. With the current PI loss cost environment, these results are critical to guide state-specific strategies and decisions with the broader Product organization. The candidate will partner closely with actuarial, claims analytics, and product management areas and will be a key business partner, whose expertise is highly sought. This role will also include the opportunity to partner closely with ASM to evolve powerful analytical tools utilizing statistical modeling, machine learning, and big data platforms to enhance core actuarial processes. As part of enhancing model-based indications, this role can help advance longstanding actuarial methodologies. Examples include developing new approaches to loss development, trend, and range estimates in analyses. In addition, the candidate will leverage these advanced analytics and modeling techniques to proactively identify meaningful risk relationships that lead to actionable insights, strengthening our ability to align pricing with underlying risk. This role will require active partnership with key stakeholders and customers on deployment and adoption making communication and analytical skills a must.
Requirements
- Undergraduate degree with a major in mathematics, actuarial science or related field of study.
- Minimum 5 years of property and casualty insurance actuarial experience. Homeowners is a plus, but not necessary
- Knowledge of actuarial pricing techniques.
- Demonstrated technical/analytical skills; High proficiency in Excel required and experience with R/SQL preferred.
- Effective oral and written communications skills.
- Independently motivated; constantly looks for areas to add value.
- Teamwork skills including ability to effectively collaborate with and influence individuals at different organizational levels.
Nice To Haves
- FCAS preferred, but open to candidates with appropriate knowledge background
Responsibilities
- Lead a team that produces and analyzes Homeowners rate adequacy on a regular basis with clear visibility into key assumptions
- Collaborate with partners on key assumptions going into rate adequacy analysis, ensuring assumptions incorporate the latest information from all areas
- Think creatively to develop innovative and novel solutions to actuarial processes and how we can enhance long-standing actuarial methodology using newer data science techniques
- Partner with modeling group to prioritize next modeling initiatives including additional use cases, dive into results, and communicate results with business partners
- Build tools/analytics, using enhanced statistical tools, such as R and Shiny applications as well as the new Homeowners data asset
- Leverage advanced analytics and modeling techniques to proactively identify meaningful risk relationships that lead to actionable insights
- Present results to leaders in Actuarial, Reserving, Claims, and Product, among others
- Results driven with commitment to meeting deadlines
- Attends to detail and manages multiple priorities in a fast-paced environment
Benefits
- short-term or annual bonuses
- long-term incentives
- on-the-spot recognition
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What This Job Offers
Job Type
Full-time
Career Level
Director
