AmTrust Financial Services, Inc.

  • Sr. Actuarial Analyst: Commercial Lines

    Job Locations US-NY-New York
    Requisition ID
    2018-7066
    Category
    Actuarial
    Position Type
    Regular Full-Time
  • Overview

    The successful candidate will report into Commercial Lines Division Pricing and will be responsible for providing actuarial pricing services to the Commercial Lines Divisions within AmTrust. 

    Responsibilities

    • Profitability and Rate Indication Analyses:
    • Conduct rate indication / profitability study by business segment (State group, Line of Business, Products) for a $1 Billion book of primary commercial lines business (Auto, GL, Property, etc.) to identify pockets of profitable growth opportunities in the local insurance market and the areas requiring remediation.

     

    • Participate in monthly/quarterly product monitoring to identify issues and opportunities within the various classes and regions and assist in the development of actions plans; Develop and implement recommended product pricing changes based on business performance demonstrated through policy quarter analytic process.

     

    • Communicate results of pricing analyses to the various audiences including underwriting and senior management; including explanations for profitability drivers, trends in operational diagnostics of the business, profitability risks, variability, etc.; Influence the decision process. Collaborate with underwriting and product line managers to effectively executive business strategies and monitor outcomes on a periodic basis.

     

     

    • Pricing Models:
      • Review and understand various pricing tools in use by business, refine the pricing tools where appropriate.
      • Ensure pricing parameters are adequate and up-to-date.

     

    • Business Planning: Support the business planning teams in the selection of initial expected loss ratios.

     

    • Pricing Parameters Development & Maintenance: In conjunction with other pricing actuaries develop and maintain a library of pricing parameters including: premium and loss trend factors, loss development factors, increased limits factors (or sol curves), industry expected loss ratios

     

    • Filing and Compliance: Support the Compliance department with preparation of rate filings and assist in responding to related objections from the individual state insurance departments.

     

    • Business Reporting & Monitoring: Coordinate with other pricing actuaries and IT to develop regular actuarial reportsincluding renewal rate monitoring, new / renewal price monitoring, large loss reports, incurred/paid actual versus expected analyses, etc. to be used in various pricing, reserving and profitability analyses. Support and contribute to the monthly actuarial reporting processes for each class of business.

     

    • Industry Analyses: Analyze industry trends and information and highlight the implications for the business. Support forward business planning, forecast and analysis process, also integrated with reserving and profitability process.

    Qualifications

    • Bachelor’s Degree in Actuarial, Math, Economics, Statistics, or similar field requiring significant quantitative analysis;

     

    • Actuarial Analyst: 3 to 5 years relevant experience; pricing primary commercial lines (General Liability, Auto Liability, and Property) preferred with 3 to 5 CAS exams; Sr. Actuarial Analyst: 5 to 8 years relevant experience; pricing primary commercial lines (General Liability, Auto Liability, and Property) preferred, ACAS or near ACAS.  

     

    • Strong knowledge of Microsoft Excel and VBA, and working knowledge of SQL, data structures, systems, and predictive modeling experience preferred.   

     

    • Ability to work in a fast paced, team-oriented environment as well as working independently.

     

    • Excellent communication and interpersonal skills, able to establish credibility with senior underwriters, business unit leaders and divisional leadership.

     

    • Ability to work with IT to improve the data quality and collection processes as well as executive business strategies through frontend policy admin systems.

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