Pricing Analyst

Location
Downers Grove, Illinois
Salary
Not Specified
Posted
Feb 08, 2019
Closes
Apr 09, 2019
Ref
996206#GIJ--AmericanAccess.1
Job Type
Full Time
Career Level
Not Specified

American Access Casualty Company (AACC) provides quality private passenger automobile insurance to our valued customers. We began operations in 2000 and provide private passenger automobile and physical damage insurance coverage in Arizona, Illinois, Indiana, Nevada and Texas. We are currently seeking a Pricing Analyst to join our team in our Downers Grove, IL office!

As a member of the Pricing Department, the Pricing Analyst contributes to the process of rate making, product development and reserving for all non-standard auto products. The Pricing Analyst works under the supervision of the Pricing Director to guide growth and profitability to meet or exceed budget.

Essential Functions:

  • Conduct profitability analysis of book of business and recommend pricing actions based on segment performance.
  • Conduct rate reviews using internal and external data sources and develop sound recommendations based on actuarial and economic indications.
  • Support Pricing Department in periodic reserve reviews.
  • Source of in depth knowledge of the company's products and market conditions for non-standard auto insurance in assigned state(s).
  • Participate in the achievement of a business plan for non-standard auto products, including premium plan, combined ratio performance, production parameters, competitive environment, competitor details, regulatory environment/developments, demographics, etc.
  • Perform ongoing analysis of company and competitor pricing and premium volume.
  • Contribute to and develop ad-hoc assignments with respect to claims analytics.
  • Collaborate with Marketing, Underwriting, IT and Claims to align interests and manage the performance of assigned state(s).
  • Communicate with state DOI personnel to achieve approval of rate/rule filings.
  • Maintain organized records of rates, rule and form filings.
  • Maintain in depth knowledge of company and 3rd Party systems used to rate or sell the company's products.
  • Independently manage projects; understand business objectives as they relate to project goals.

Other Responsibilities:

  • Collaborate with the Pricing Director to identify improvements in the pricing model and rating platforms of all non-standard auto products.
  • Participate in complex, large-scale, and highly specialized projects that support rate reviews, product development, pricing strategy, underwriting and claims.
  • Manage complex data gathering, reporting and analysis.
  • Identify the need for and drives the development of new tools and processes within the department.

Qualifications:

  • Bachelor's degree in mathematics, statistics, actuarial science, economics, finance, or other quantitative field; Master's or advanced degree preferred. Experience in pricing, actuarial or product functions for personal lines insurance is a plus.
  • Must have strong mathematical skills and the ability find answers to business questions in large data sets.
  • Must be self-motivated, organized and able to meet deadlines with assignments.
  • Analytical and problem solving skills with proven ability to make data driven decisions; proficient in data analysis software (e.g., Excel, R, SQL, SAS, Access).
  • Experience developing and presenting recommendations related to product/pricing actions.
  • Advanced spreadsheet and database skills.
  • Must be a good communicator and listener.
  • Ability to foster and encourage teamwork and productive working relationships with stakeholders at all levels and across organizational lines; ability to coach and mentor less experiences staff to help them achieve individual expectations and deliverables.

Similar jobs

Similar jobs