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About the Role
This position provides actuarial pricing/rating support for MRS-NA Insurtech Programs, analyzing, evaluating, modeling, and rating potential competitive solutions for clients, and supporting rate filings.
Responsibilities
- Prepare and complete pricing analyses with some guidance, including the development of rates, ultimate loss projections and communication of results.
- Participate in development and update of Actuarial models and databases through formula development, research on methodologies, and collaboration with technical teams.
- Support for result monitoring, pricing and portfolio management projects that will assist underwriters and management in managing and steering business.
- Document and communicate assumptions, results, and alternatives to actuarial staff and internal and external clients.
- Understanding and ability to discuss and apply the use of existing & new actuarial concepts/techniques involving exposure adjustments, trend, loss development, exposure rating, et al with some assistance/guidance.
- Identification of data issues requiring specialized actuarial attention.
- Provide actuarial insight and expertise as a participant on a Line of Business Expert Group.
- Pursue formal education via Casualty Actuarial Society (CAS) exams.
- Participate in training of others (underwriters, client managers, risk analysts, accountants and actuaries) regarding actuarial analyses and methodologies.
Requirements
- Bachelor’s degree in Mathematics, Actuarial Science, Economics, Business or related field.
- Passed four (4) to six (6) actuarial exams for Actuarial Analyst Senior level.
- ACAS for Associate Actuary level.
- At least four (4) years of insurance/reinsurance and actuarial pricing experience.
- Good technical actuarial skills.
- Proficient computer skills in MS Office Suite, including PowerBI to be used for ratemaking, pricing, modeling stochastic distributions or data analysis.
- Experience in use of Python, SAS, R or other statistical software in insurance pricing applications.
- Excellent oral and written communication skills and interpersonal skills.
Skills
- Actuarial pricing
- Rate analysis
- Loss projection
- Actuarial modeling
- Database development
- Formula development
- Methodology research
- Result monitoring
- Portfolio management
- MS Office Suite
- PowerBI
- Python
- SAS
- R
- Statistical software
- Communication skills
- Interpersonal skills
Location
- Princeton (NJ)
- New York (NY)
- Hartford (CT)
Work Type
- Full-time
Experience Level
- Senior
- 4+ years
Education Level
- Bachelor's degree
Salary/Compensations
- $84,500 - $140,900
Benefits
- Company bonus
- Health insurance coverage (PPO or High Deductible)
- Prescription drug coverage
- Vision and dental insurance plans
- Basic life insurance equal to 1x annual salary
- AD&D coverage equal to 1x annual salary
- Short and Long Term Disability coverage
- Supplemental Life and AD&D plans
- Voluntary Benefit plans (Accident, Critical Illness and Hospital Indemnity)
- 401k plan with up to a 5% employer match
- Retirement savings plan (100% company funded)
- 24 days paid time off annually
- Yearly bonus
- Health and wellness programs
- Paid time off for eligible family care needs
- Tuition assistance
- Educational achievement bonuses
- Corporate matching gifts program
- Paid time off to volunteer
About the Company
- Munich Re Specialty - North America is a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise.
- Offers a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages.
- Has the financial strength and global resources of an A+ Superior (A.M. Best) rated organization.
- Committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of complex risks.
- Shaping the future of specialty insurance in North America.
Equal Opportunity
- We are an equal opportunity employer.
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.
- We recruit and develop talent with a focus on providing our customers the most innovative products and services.