Support insurance company leadership by developing ratemaking strategies aimed to meet corporate objectives. This position requires strong communication and excellent human relations skills.
Collaborate with sales management, underwriting and claims leaders relative to underwriting operating performance and make recommendations that support a strong company business profile.
Analyze loss ratio experience, growth trends, and indications for every line of business.
Perform predictive modelling to support rate analyses.
Keep abreast of company and industry frequency and severity trends.
Make rate adjustment recommendations to the executive leadership team.
Assist in department of insurance filings.
Conduct quarterly loss reserve and anticipated salvage and subrogation reviews.
Conduct year-end loss reserve reviews including loss adjustment expenses.
Prepare the year-end actuarial opinion on loss and loss adjustment expense reserves.
Perform year end ceded and assumed loss reserve analysis.
Analyze premium deficiency reserves.
Assist with completion of actuarial analyses related to the AM Best Supplemental Rating Questionnaire (SRQ).
Keep current on new techniques of estimating loss.
Collaborate with and support other accounting and finance personnel in project and department deliverables.
Work in partnership with the Company’s other actuary to ensure key responsibilities for both roles are adequately covered for business continuity purposes.
Regular, predictable attendance as employee must physically be in the office.
This list of essential functions is non-exhaustive and may be supplemented as necessary.
Maintain working knowledge of KFB products.
Stay advised of current industry trends.
Maintain continuing education requirements.
Physical demands: Normal vision/hearing (with or without correction); Sitting; Speaking.
Mental demands: Analytical Reasoning; Prolonged Concentration; Ability to grasp new concepts quickly; Decision making ability.
Equipment: Personal computer.
Environmental factors: Standard office lighting, temperature and noise.
SCOPE OF CONTACTS
All levels of KFB personnel.
Vendors, consultants, professional groups.
Agents and Agency Managers.
Department of Insurance.
MINIMUM EDUCATION AND TRAINING REQUIREMENTS
Bachelor’s degree required preferably in a field of study demanding skill in logical problem solving, such as Mathematics, Economics, Finance, or Computer Science.
In-depth knowledge of insurance products.
Broad knowledge of an insurance company's operational areas and automated processing systems.
Member in good standing of the Casualty Actuarial Society and the American Academy of Actuaries.
MINIMUM EXPERIENCE REQUIREMENTS
Five years experience in various functional areas of an insurance company, including experience in an actuarial department, which would expose incumbent to policyholders' needs and departmental interrelationships.
Previous experience in personal lines pricing preferred.
Previous experience and/or training in management.
Previous experience in various project management methodologies.
Previous experience or training in Market Research and analysis.
Proven ability to organize, be creative and innovative and react in a restrictive time-frame.
About Kentucky Farm Bureau Mutual Insurance Company
Kentucky Farm Bureau Mutual Insurance Company is the largest property and casualty insurance provider domiciled in Kentucky. As a Farm Bureau member service, we are committed to serve the insurance needs of local communities, support growth and retention of membership and maintain a responsive presence in all Kentucky counties.