Insurance Risk & Actuarial Manager

Instacart-posted 4 months ago
$140,000 - $187,000/Yr
1,001-5,000 employees
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We are seeking an analytical and collaborative Insurance Risk & Actuarial Manager to join our Risk & Compliance team. This role is essential for managing Instacart’s insurance program, overseeing actuarial reserves, and driving claims analytics. You will work closely with actuaries, Finance, Accounting, Operations, and Legal teams to ensure accurate IBNR analysis, robust SOX controls, and effective risk transfer strategies. This position leverages data-driven insights to identify trends, evaluate performance, and drive improvements in claims outcomes. Additionally, you will play a key role in annual insurance renewals, assess captive formation opportunities, and shape innovative risk transfer solutions tailored to the gig economy.

  • Coordinate and oversee IBNR analyses with external actuaries, ensuring methodologies align with company data and business practices.
  • Partner with Finance, Accounting, and Legal teams to reconcile actuarial findings with business risk profiles, claims development, and business changes.
  • Own and maintain SOX controls related to actuarial reserves, including documentation, testing, and process improvements.
  • Review and validate actuarial reports to ensure consistency with claims experience and industry benchmarks.
  • Lead annual insurance renewal submissions by compiling exposure data, claims metrics, and actuarial findings.
  • Serve as the primary liaison with insurance carriers, brokers, TPAs, and actuaries, ensuring alignment on claims development, reserve adequacy, and program structure.
  • Design and support placement of insurance programs, including alternative risk transfer, auto, liability, workers’ compensation, and occupational accident coverage.
  • Assess feasibility studies, regulatory considerations, and financial modeling for captive formation and alternative risk financing.
  • Develop and maintain claims reporting and dashboards to track frequency, severity, and loss development trends.
  • Collaborate with operational and safety teams to identify opportunities for cost reduction and claims process improvements.
  • Provide regular updates to senior leadership on program performance, key risk indicators, and opportunities for captive insurance utilization.
  • Bachelor’s degree in Risk Management, Finance, Accounting, Economics, or a related field (advanced degrees or actuarial credentials preferred).
  • 5+ years of experience in corporate risk management, claims analytics, or actuarial oversight.
  • Proven ability to analyze large, complex data sets and derive actionable insights.
  • Exceptional attention to detail, with strong analytical and organizational skills.
  • Ability to manage competing priorities and deliver results under tight deadlines.
  • Strong understanding of actuarial reserving principles, with experience managing actuarial partners and interpreting analyses.
  • Experience with captive insurance structures, feasibility studies, or alternative risk financing strategies.
  • Knowledge or experience working in the gig economy, marketplaces, or technology-driven business environments.
  • Highly market-competitive compensation and benefits.
  • Remote work flexibility under the Flex First policy.
  • New hire equity grant and annual refresh grants.
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