The Pricing Actuary is a credentialed Actuary that contributes to the development and significant revisions to ratemaking methodologies. Develops and implements statistical models and conducts other advanced actuarial analysis. Leads ratemaking research efforts and provides peer review of analysis and completed work products.
Primary Accountabilities Ratemaking (45%)
Contributes to recommendations and significant revisions to ratemaking methodologies.
Provide input and recommendations for rate of return analysis.
Provides additional analysis to support complex business partner requests.
Contributes to all aspects of indication development and owns the recurring process; utilization of catastrophe models to develop recommendations for ratemaking and exposure concentration analysis.
Provide insights and develops recommendations to contribute to pricing strategies and P&G planning.
Maintains awareness and thorough understanding of the state`s business performance indicators/measures and state specific issues.
Works with business partners to develop rate recommendations.
Facilitate the rate review process and contributes to the pricing committee meetings to support the pricing strategy.
Develops relationship with core business partners and provide insights and solutions to address specific business concerns.
Research & Development (40%)
Explores new concepts statistical models, and data sources to deliver innovative solutions for the business.
Assist with the development of pricing for new products and rating structures.
Provides actuarial expertise and consultation on product development.
Represents Pricing on various data efforts including dataset development and consultation on data and analytical development.
Assist with development of classification ratemaking methodologies and models.
Other Duties (15%)
Responsible for peer review of work products.
Monitors industry and competitor trends to determine potential impact to American Family and Actuarial strategies and solutions.
Actively pursues continuing education through formal and informal educational programs.
Represent the pricing department on various projects and initiatives.
Acts as a resource and a mentor to help develop staff.
Specialized Knowledge and Skills Requirements
Demonstrated experience providing customer-driven solutions, support or service
Demonstrated experience communicating complex data to multiple business partners.
Extensive knowledge and understanding of underwriting guidelines and concepts and the impact to rates.
Extensive knowledge and understanding of property and casualty products, pricing, rates and industry trends.
Extensive knowledge, understanding and demonstrated experience performing statistical/actuarial analysis and data forecasting and modeling techniques.
At least, the Associate of the Casualty Actuarial Society (ACAS).
Bachelors Degree in Math, Actuarial Science, Statistics or other related quantitative discipline.
This position requires travel up to 5% of the time
Additional Job Information:
Depending on qualifications (experience and exam status), candidates may be considered at the Senior Pricing Actuary.
Top candidates will have 8+ years of P&C experience and prior Ratemaking experience.
?Offer to selected candidates will be made contingent on the results of applicable background checks.
Offer to selected candidates is contingent on signing a non-disclosure agreement for proprietary information, trade secrets, and inventions.
We are open to hiring candidates to work remotely (anywhere in the USA).
Telecommuting is allowed.
Additional Salary Information: Compensation may vary based on the job level and your geographic work location.
When you work at American Family you can expect benefits that support your physical, emotional, and financial wellbeing. You will have access to comprehensive medical, dental, vision and wellbeing benefits that enable you to take care of your health. We also offer a competitive 401(k) contribution, a pension plan, an annual incentive, and a paid-time off program. In addition, our student loan repayment program and paid-family leave are available to support our employees and their families. Interns and contingent workers are not eligible for American Family Enterprise benefits.
Internal Number: R20892
About American Family Insurance
For more than 80 years, American Family Insurance has given its customers peace of mind by making their insurance experience easy and convenient. Our caring agents strive hard to meet customers' unique needs by offering just the right mix of American Family's auto, home, life*, umbrella, business, health, and farm & ranch insurance, as well as retirement* products. Located throughout our 19 operating states, American Family's independent contractor agents serve as local, expert and trusted advisors to our customers. They get to know you like family.