Senior Actuarial Analyst

Our client is a well respected Property & Casualty Insurance Organization and they have Retained The Carlisle Group to conduct a search for a Senior Actuarial Analyst. This position would focus more on Pricing and our client does not require Actuarial designations. This position is 100% remote.


JOB DESCRIPTION

• Loss Cost / Rule Development

• Create loss costs, rates and rules for insurance products for multiple P&C lines of business for individual member companies.
• Prepare filing exhibits and memorandums as needed for filings with the various insurance departments.
• Meet changing market needs as well as regulatory and legislative requirements.

• Statistical Data Analysis

• Data extraction, manipulation and analysis
• Preparation of reports
• Review of Statistical Plan and preparation of improvement recommendations

REQUIREMENTS

• 5 years minimum of P&C Insurance experience including understanding of standard actuarial techniques and the state filing and approval process.
• Insurance designation course work preferable.
• College degree required (quantitative major such as Math, Actuarial Science, Accounting or related field).

SKILLS

• Ability to work independently
• Judgment in evaluating data
• Ability to research and develop insurance pricing, products and enhancement recommendations
• Proficient in business software, i.e., Microsoft Office, especially Excel and Word
• Ability to perform arithmetical operations and verify mathematical calculations
• Capable of adapting existing guidelines to varied situations
• Ability to determine and reshuffle priority of work as necessary to multi task and operate in a deadline sensitive environment
• Strong organizational skills and attention to detail
• Ability to read, write and speak the English language and compose correspondence highly professional and tactful manner
• Visual acuity sufficient to accurately review and proof information
• Auditory ability to use a telephone.
• Willing and able to travel as required to out-of-town locations and use public transportation (automobiles, buses, airplanes, etc.)
• Willing and able to work required overtime when necessary to meet operating and business requirements.

JOB DUTIES

• Review, decipher, and analyze key insurance company rate/rule filings.
• Summarize and report filings on key material elements of rate/rule filings including:

• Rating algorithms
• Rating elements
• Key relativities/factors including (but not limited to):
  • Deductibles
  • Construction / protection classes and factors
  • Base limits and limits offered
  • Amount of insurance relativities
  • Class plans and factors
  • Coverage options
  • Rating tiers

• Construct valid comparisons of base loss costs for all reviewed companies in a single state/market:

• Same limit
• Same coverage
• Same deductible
• Same key rating parameters
• Consistent conversion of rates to loss costs

• Document research and analysis results with filing quality exhibits as needed.
• Advise on the development of new/revised rating algorithms and key rating elements.
• Advise and suggest on the development of new/revised manual rules.
• Draft Actuarial Filing Memorandums for market analysis rate development efforts.
• Assist (as needed) Product Analysts with responses to Insurance Department questions.
• Represent at various industry meetings and conferences.
• Recommend value added services and programs to current member companies and prospects.
• Review each project and set a realistic deadline.
• Keep abreast of current P&C topics through research, webinars, publications, etc.

MEMBER COMPANY CONTACT

• Communicate with our member companies as needed to discuss filings, loss costs, rules, actuarial documentation, and state objections and answer company questions.

EXTERNAL VENDORS & BOARD CONTACT

• Communicate with various state departments of insurance and outside professional consultants exclusively for business.
• Contact with Board as requested by management.