Salary
Open
Location
Somerville, MA, United States
Posted on
Feb 26, 2022
Profile
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Job Summary:
The PL Product Economics team is looking for an Actuarial Analyst or Senior Actuarial Analyst,
you will be part of a team whose mission is critical to both top-line and bottom line performance. You will support a business group's profit, growth and operational objectives by providing external actuarial support for key filed Product initiatives, including state-level rate changes, targeted rate changes, and support of various new products and programs.This involves the initial submission of actuarial justifications, and continued verbal and written negotiations with regulators throughout the objection and approval process. Strong interpersonal and communication skills are essential for communications of wins and losses to senior managers, and interactions with external stakeholders.
In this role, he/she will perform analysis in pricing and product development and partner with various other functions such as state analytics, planning, rate revision, and countrywide rollout teams. In addition to state level assignments, we establish and promote subject matter expertise in areas such as various data sources and processes used within our group. The candidate will need to be able to provide data and analytical support for projects independently.
Responsibilities:
Provide actuarial support for state filings for rate and other new initiatives.
Provide analytical insight and recommendations to State Directors to inform business decisions.
Track state-level requirements for actuarial assumptions in filings and apply them appropriately.
Develop subject matter expertise which can be leveraged countrywide.
Own continuous improvement of processes to ensure efficiency, accuracy, and effectiveness of external actuarial support that are quickly integrated in daily work routines.
Queries data for requests outside of base rate support and drive deep dives on an ad-hoc basis.
Protect intellectual property by providing information only as required or confidentially as allowed.
Communicate effectively with external regulators in writing and verbally, to support business outcomes.
Monitors developments in actuarial techniques; Researches laws and regulations; Analyzes developments in the marketplace. Represents the Company on industry and professional committees.
Please note this posting is open to multiple locations or remote. Compensation will vary based on experience, education and location.
Bachelor's degree.
Minimum 2 years relevant experience with passing grades on a minimum of 2 Casualty Actuarial Exams is required for Actuarial Analyst grade level; this level will also be included in the Actuarial Rotational Program within both Personal and Commercial product lines.
Minimum 35 years relevant experience along with passing grades on a minimum of 5 Casualty Actuarial Exams is required for Sr. Actuarial Analyst grade level.
Commitment to achieving Associateship (ACAS) or Fellowship in the Casualty Actuarial Society (FCAS).
Strong analytical skills with solid understanding of all casualty actuarial techniques, standards, and assumptions.
Strong knowledge of insurance operations and the procedures of Financial, Underwriting, Claims, Statistical, Information Technology, Legal, and Sales departments.
Demonstrated ability to exchange ideas and convey complex information clearly and concisely, both verbally and in writing.
Ability to establish and build effective relationships within and outside the organization.
Proficient in Excel, PowerPoint, and data analysis software (e.g., SAS).
Must have good planning, organizational, analytical, decision making and communication skills.
Company info
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