Provides assistance in the preparation of departmental recommendations and analysis of management proposals affecting corporate solvency with primary emphasis on rate and reserve adequacy.
Rate Reviews: Performs and evaluates financial experience data using prescribed actuarial techniques. Prepares reports for the Operating Committee on the adequacy of rates.
Rate Filing: Applies rate and rule filing laws and regulations. Makes rate filings timely and effectively.
Rate Plan Development: Performs the following with limited guidance: Produces rating plans so that rates are actuarial sound; which reflect rates in the competitive market and the potential impact to the company's policyholders. Develops rates and rate plans for new coverages, new lines and/or in new states in order to be in compliance with legal requirements using an advanced knowledge of company, competitor, and industry claim settlement and reserving practices, policy coverages, rating and coding procedures, accounting concepts, system processing, marketing strategies, and underwriting rules, as well as familiarity with pertinent insurance laws. Performs analyses including multivariate analysis considering various rating dimensions and the correlations among the rating factors. Communicates the rating plans to Rating and Underwriting System Unit.
Programming: Constructs functional statements using SQL and other programs by applying advanced knowledge of computer systems and programming in order to perform accurate and complex actuarial analysis.
Reporting: Determines and analyzes customer requirements, uses system data and provides input needed by various departments and senior management as well as occasional production and special reporting of company experience to statistical agents, Insurance Departments and re-insurers in order to produce business and scientific reports.
2+ years actuarial experience in property and casualty insurance industry
Successful completion of at least 5 CAS exams
Knowledge of company, competitor, and industry claim settlement and reserving practices, policy coverage’s, rating and coding procedures, accounting concepts, system processing, marketing strategies, and underwriting rules, as well as familiarity with pertinent insurance laws.
Extensive experience with computer systems and programming, in order to construct functional SQL programs. Expertise in spreadsheet and database software in order to capture data and complete accurate analyses of complex actuarial data.
Modeling experience is preferred.
BA/BS - Degree in Math, Statistics or related field required
Advanced degree preferred
Additional Salary Information: Salary can increase at time of hiring depending on experience.
Internal Number: 02509
About California Casualty
California Casualty is committed to meeting the insurance needs of the professionals who serve the public good in a variety of ways—firefighters, law enforcement, state troopers, educators and others. As a member of our team, you can take special pride in knowing that while you’re building a successful career, you’re also serving this dedicated group of people.
As one of our Actuarial Analysts, you will draw on your talents and skills to assist in the preparation of departmental recommendations and analysis of management proposals affecting corporate solvency and growth with primary emphasis on rates.