Pricing Actuarial Analyst

Merchants•Buffalo, NY

2d•Hybrid

About The Position

Merchants Insurance Group, a leading Property and Casualty Insurer in the Northeast, is looking for a Pricing Actuarial Analyst for our Corporate Actuarial team based in our Corporate Headquarters in Buffalo, New York. The Pricing Actuarial Analyst will become part of a dedicated actuarial team focusing on providing support and assistance to the Product Manager in developing pricing proposals. Responsible for developing profitability and trend analysis designed to assist management in their decision-making process. Merchants Insurance Group is rated A- (Excellent) with a stable outlook by A.M. Best and is consistently recognized as a top employer and high-performing organization. We offer a hybrid work schedule, requiring two full days per week in the office, with flexibility to work remotely or in office the remaining days. This model supports collaboration while providing flexibility and work-life balance.

Requirements

Bachelor's degree in Mathematics, Statistics, Actuarial Science, or related field
Proficient in Excel
General programming and/or database skills; SQL experience preferred
Excellent analytical, problem-solving, and organizational skills
Detail-oriented with strong time-management skills to plan, prioritize, and meet deadlines
Action-oriented with a focus on accuracy and results, including the ability to persevere in a variety of situations
Strong written and verbal communication skills
Ability to excel independently as well as contribute effectively to a team environment

Nice To Haves

Experience in the actuarial field, property/casualty insurance company, or agency is preferred
Credit for two exams and commitment to pursuing actuarial credentials from the Casualty Actuarial Society is preferred
PowerBI or Tableau experience is a plus
Proficiency in pricing concepts, P&C products/coverages is preferred
Experience with Radar or similar rating software is a plus

Responsibilities

Follows the rate review schedule to develop state/product rate indications in accordance with Actuarial Standards of Practice and company standards
Develops competitive analyses and impact analyses using Radar designed to assist business partners in developing rate proposals
Tracks changes made by ISO and the Workers’ Compensation rating bureaus
Prepares rate filings and works with state insurance departments as needed to gain regulatory approval
Prepares system files and assists in timely and accurate implementation of rates
Creates new or improves existing documentation
Develops loss experience and product profile analyses including but not limited to monitoring company and industry trends in loss ratio, frequency, severity, premium, and policy growth.
Clearly communicate results with appropriate business partners
Assists in preparing semi-annual rate indications for all state/product combinations for tracking and planning purposes
Supports maintenance and development of actuarial pricing models

Benefits

The Pricing Actuarial Analyst qualifies for participation in the Merchants Insurance Group’s Actuarial Student Program.
Welcoming and positive work environment.
Flexible work arrangements, including flex scheduling and summer hours.
Hybrid work schedule.
Colleague Appreciation Events.
Competitive pay scale.
Outstanding company bonus program.
Generous paid time off package.
Full Benefits: Health, Dental, Vision, Life Insurance, Short Term Disability, 401(k) employer match amount is 100% up to 6% of your annual contributions.
You are immediately 100% vested in the employer match dollars.
Tuition Reimbursement.
And many more exciting company benefits!!