Provides technical, actuarial analyses in the areas of pricing, ratemaking, reserving, and predictive analytics. Supports and executes Company strategy as directed by the Chief Actuary.
- Prepares complex actuarial analyses requiring judgment and technical expertise for area of responsibility.
- Completes assigned analyses on time and in accordance with Actuarial Standards of Practice.
- Provides proper documentation of work product.
- Consults with business and product leaders to understand needs and ensure timely delivery of accurate Actuarial products and services.
- Works with Product Managers to develop and implement new products and expand into new markets.
- Understands how program changes and rate revisions impact marketing, policy services, claims and I/S.
- Includes other departments in rate revision and/or new product discussions as appropriate.
- Works with state insurance departments as necessary to ensure expeditious regulatory approval of Company filings.
- Manages assigned projects ensuring that they are delivered on time and within scope.
- Prepares project plans and regular status updates to management including accurate estimates of necessary resources and timelines.
- Identifies issues and recommends mitigation strategies.
- Ensures key stakeholders are identified and regularly informed of project status.
- Executes on projects to achieve business objectives.
- Assists team in developing appropriate analyses, managing to customer expectations, and delivering results.
- Provides organization and skill development for new employees.
- Reviews the work of other Analysts and Technicians to ensure consistency, precision and accuracy.
- Provides technical expertise in the design and delivery of Actuarial projects and services as well as for other corporate initiatives.
- Ensures soundness of actuarial analyses and consistency with Standards of Practice.
- Ensures that the work product supports business growth and profitability.
- Contributes to the advancement of the Actuarial Science practice at ICW Group.
- Helps to establish and promulgate best practices for actuarial analyses.
- Participates in the development of an Actuarial Manual.
- Helps provide database management and system development.
- Bachelor's degree from a four-year college or university.
- 1 CAS exam and/or 1 year actuarial experience preferred.
- Understanding of WC or PPA products and coverages and state regulatory requirements.
- Understanding of the various private passenger automobile markets: preferred, non-standard and financial responsibility.
- Some experience modeling private passenger automobile or Workers’ Compensation lines of business.
- Knowledge of SAS programming. Ability to comprehend and apply principles of advanced calculus, modern algebra and advanced statistical theory.
- Familiarity with Emblem Product Suite (Emblem Modeler, Classifier and Rate Assessor) a plus, but not required.Commitment to project targets and on-time delivery.
- Thorough knowledge of the statistical basis of actuarial models and ability to assess results.
- Ability to apply mathematical concepts such as frequency and severity distributions, determination of test reliability and validity, analysis of variance, correlation techniques, sampling theory and factor analysis.