Pricing Analyst

Westfield Insurance - Westfield Center, OH

Full-time

Westfield Center, OH

Insurance Carriers and Related Activities

About the position

The Pricing Analyst role involves working under moderate supervision to perform various analytical tasks related to pricing and actuarial analyses. The position focuses on data extraction, transformation, and preparation, as well as developing reports and conducting financial analyses to support the company's pricing models and objectives.

Responsibilities

• Combine, aggregate, join, reformat, and manipulate raw data from multiple sources to support pricing and actuarial analyses.
• Validate rating algorithms and associated factors by identifying discrepancies, troubleshooting issues, and conceptualizing necessary fixes to ensure accurate pricing models.
• Communicate identified issues and proposed solutions related to rating algorithms and factors with external partners and stakeholders to facilitate effective resolution.
• Execute, monitor, and debug statistical rerating software to ensure consistent and reliable output for pricing analyses.
• Implement, validate, and test rate and rule changes within rating systems, ensuring alignment with business objectives and regulatory requirements.
• Utilize comprehensive knowledge of insurance products to inform and apply necessary adjustments and fixes within pricing models and analyses.
• Develop and maintain management reports and analyses that monitor performance, behavior, and the achievement of company goals and objectives.
• Work collaboratively with actuarial team members and cross-functional business units on assigned projects, ensuring accuracy, timely completion, and adherence to project specifications.
• Assist in the development and maintenance of automated data processing scripts and dashboards to enhance efficiency in monitoring and reporting rating performance.
• Expand and apply knowledge of relevant tools, technologies, and analytical techniques (e.g., SQL, SAS, Python) to perform comprehensive pricing analyses and support actuarial methodologies.

Requirements

• 2+ years of professional analytical work experience including ability to document and explain basic to moderately complex work products.
• Bachelor's degree in mathematics, statistics, computer science or related field or commensurate experience.
• Proficient in SQL for data extraction, joining, aggregating, and reformatting.
• Experience with statistical and data manipulation software such as SAS, Python, R, or Visual Basic.
• Proficient in MS Excel, including pivot tables and VLOOKUPs, and experience with MS Word for data organization and documentation tasks.