Job Description
In this dynamic role, you will fully own the Actuarial function for our fast-growing Insurtech client. You will build the actuarial function, standards, tools, infrastructure and processes from the ground up. This is a role with tremendous exposure both internally and to the industry.
Accountabilities:
- Lead the Actuarial function for a fast rising Insurtech firm.
- In collaboration with Product Management, develop rate indications for current and future Property Casualty products across Commercial and Personal lines.
- Gain complete understanding of existing predictive pricing models to improve pricing competitiveness, meet reserve needs, and comply with DOI regulations in all states filed.
- Suggest changes to predictive pricing model as business and market conditions dictate
- Manage relationship with external consulting actuary
- Determine and define all actuarial standards and processes
- Define actuarial tools and technologies to be utilized to improve results and efficiency, assist in budgeting for and acquiring those tools and setting best practice standards for employing those tools and technologies
- Define data management standards for all actuarial calculation and reporting purposes
- Communicate pricing selections, actuarial methodologies, modeling methodologies and all pertinent actuarial factors and calculations to internal and external stakeholders, Departments of Insurance and other parties as required.
- Ensure actuarial staffing needs are aligned with greater business needs
- Attract, assess, acquire, manage and mentor future actuarial staff
- Stay abreast of industry and regulatory trends impacting actuarial practices, ratemaking, reserving and advising actuarial staff, executive leadership and other pertinent stakeholders of any relevant changes
- Other duties as required
Skills/Requirements:
- Bachelor's degree in Business, Risk Management, Math, Actuarial Science, Statistics, Operations Research, Accounting, Finance or related.
- ACAS (Associate in the Casualty Actuarial Soceity) required, FCAS (Fellow) strongly preferred.
- Demonstrated success managing actuarial and actuarial support staff
- 10+ years of dynamic and expanding actuarial experience in Property Casualty insurance.
- Commercial Auto experience is a must.
- Experience with other property casualty lines extremely helpful.
- Pricing experience required with an understanding of Reserving, and experience managing external consultants and vendors.
- Strategic thinker, self starter with a strong competitive drive. Detail oriented yet able to “zoom out” and take strategic focus.
- Strong technology experience with Excel, SAS and SQL a must
- Understanding of Predictive Modeling/GLM within an insurance context extremely helpful.
- Sharing economy and/or telematics and/or UBI experience a plus
- Outstanding written and verbal communication skills are a must.