State Manager (Actuarial)

Full-time

Lincoln, RI

Insurance Carriers and Related Activities

About the position

As a mutual company, our people are our priority. We seek differences of opinion, life experience and perspective to represent the diversity of our policyholders and achieve the best possible outcomes. Our office located in Lincoln, RI is seeking a State Manager (Actuarial) to join the team! As part of our team, you will have direct oversight of the rate levels, rating plans, and strategies to achieve profit and growth of several states, with a focus on the Auto and Home lines. Serve as the primary source of pricing, product and underwriting knowledge of assigned states, driving cross-functional collaboration toward common strategic goals.

Responsibilities

• Independently analyze state rate levels and rating structures, in order to provide impactful rating plan recommendations aligned with target goals for assigned states/region.
• Establish state and line of business targets, while developing clear and comprehensive proposals for revisions in assigned states that achieve growth and profitability goals.
• Become the expert for assigned states/region, utilizing advanced analytical tools, while assessing the competitive, legislative and regulatory landscape.
• Responsible for achieving premium, profit and growth goals for assigned states.
• Develop, implement and monitor state strategies in collaboration with functional partners to meet or exceed premium, profit and growth goals.
• Coordinate state Financial operating plans and track progress for assigned states, including pricing, growth and profits plans designed to meet strategic objectives.
• Monitor marketplace and legislative issues and assess impact of new regulations in assigned states, developing swift responses as needed.
• Act as primary source of foundational product, rating and underwriting knowledge of assigned states.
• Monitor and communicate product, pricing, growth and profit performance, underwriting philosophies, financial results and underlying strategies of assigned states to internal stakeholders.
• Provide clear and thorough responses to inquiries from the filing team, DOIs and other internal stakeholders on topics related to assigned states.
• Develop and maintain relationships with state regulatory entities and trade associations.
• Develop and maintain a broad base of industry knowledge and current economic and business trends, while estimating impact of trends on assigned states.
• Identify areas of opportunity and threats along with appropriate responses in support of premium, profit and growth goals in assigned states.
• Collaborate on special projects related to advancement of rating plans, risk assessment models, and strategic goals as needed.

Requirements

• Bachelor's degree in applied mathematics, statistics or related field preferred but not required.
• Experience in State Management, actuarial pricing or related field.
• Strong knowledge of ratemaking principles and personal lines actuarial techniques, as demonstrated by past experience or completion of Actuarial exams.
• Strong business acumen, quantitative skills, and demonstrated problem-solving ability.
• Strong analytical and communication skills with ability to collaborate across functional areas.
• Advanced knowledge of data sources, data retrieval processes, spreadsheet construction and other relevant analytical software applications.
• Advanced personal lines insurance knowledge, as evidenced by 3 or more years' experience of general company product offerings, underwriting strategies, accounting, data processing, marketing, sales and claims systems.

Benefits

• Medical, dental, vision coverage, short- and long-term disability, and life insurance.
• Paid Vacation - you will receive at least 13 vacation days in the first 12 months, amounts could be greater depending on the role.
• 14 paid holidays observed.
• 6 days sick time at hire, 6 additional days sick time at 90 days of employment.
• Generous 401k with company match and immediate vesting. Additionally, annual 3% non-elective employer contribution.
• Annual Success Sharing Plan - Paid to eligible employees if company meets or exceeds combined ratio, growth and/or service goals.
• Generous leave programs, including paid parental bonding leave.
• Student Loan Repayment and Tuition Reimbursement programs.
• Generous fitness and wellness reimbursement.
• Employee community involvement.
• Strong relationships, lifelong friendships.
• Opportunities for advancement in a successful and growing company.