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About the Role

The Actuarial Analyst conducts qualitative and quantitative data analysis to assist in pricing and rating new and existing products, as well as in identifying new business opportunities, to facilitate the Company planning process. This role will contribute to pricing, data analytics and tool projects, using actuarial models and innovative approaches, with exposure to rating in both personal and commercial property lines.

Responsibilities

Apply pricing components and rating methodology to price existing and new products based on thorough statistical analysis.
Provide actuarial support in the development of new products and services to achieve successful implementation of approved strategic initiatives.
Provide actuarial and statistical analysis related to rate adequacy, including loss and premium trends, production of rate indicators and development of rating structures.
Collaborate with internal stakeholders such as Treaty, Regional Offices, Digital Distribution, New Solution Development and Claims to support their needs for pricing, data processing, analysis and mining of data and reporting.
Provide on-going review and improvements of pricing and processes for greater automation, accuracy and rate adequacy.
Drive and deliver the existing projects and contribute in various pricing projects, including development and implementation of rating structures and pricing models.
Measure, Track and Monitor Products performance.
Analyze market changes and emerging trends affecting pricing and profitability of the products and make recommendations on rates to management with supporting documentation to ensure strong profitable revenue growth.

Requirements

University Degree in Actuarial Science, Business, Mathematics, Statistics, Economics or Computer Science.
3+ years of relevant experience in a similar role with the ability to apply actuarial methods to develop insurance rating and pricing structures, compile, analyze, present and translate findings from analytics to concrete suggestion for business opportunities and to facilitate decision making.
Advanced programming knowledge and data processing abilities (using tools such as MS Office, Power BI and languages such as VBA, python, SQL).
Strong analytical and Problem-solving skills and looking for efficient, automated solutions.
Organizational and time management skills to prioritize workloads and multiple projects and meet time sensitive deadlines with high degree of accuracy.
Ability and desire to learn and adapt quickly to a changing and fast-paced environment.
Strong interpersonal and communication skills in effectively working within a team and collaborating with several business partners.
Strong written and oral communication skills.
P&C and Insurance analytics experience including a strong understanding of earned premium, incurred claims, loss development and deriving loss costs is an asset.
Strong team player, able to contribute in a collaborative environment.
A positive, professional attitude is essential for this role.

Skills

MS Office
Power BI
VBA
Python
SQL
Actuarial methods
Insurance rating
Pricing structures
Data analysis
Problem-solving
Time management
Interpersonal communication
Written communication
Oral communication
P&C analytics
Insurance analytics

Location

Toronto

Work Type

Hybrid

Experience Level

3+ years

Education Level

University Degree

Salary/Compensations

$89,000 - $104,000 per year

Benefits

Engaging and collaborative environment that promotes continuous learning and development
Hybrid work environment
Great compensation package including an annual company bonus
Competitive company-paid flexible health and dental benefits, starting on your first day
Flexible dollars provided by the company to put towards a Health Spending Account and/or Wellness Spending Account
Wellness program with tools and resources supporting your mental, physical, and financial wellbeing
Participation in the DC Pension Plan with a progressive employer contribution scale based on tenure
Optional company match in the RRSP plan
Generous time off including vacation, personal days, unplanned time, Statutory Holidays and company-wide early closure half-days
Learning and development programs and resources
Unlimited access to LinkedIn Learning
Education Assistance Program
Reimbursement for professional fees
Employee Referral Program
Recognition Program

About the Company

HSB Canada, part of Munich Re, is Canada's premier engineering-driven specialty insurer and provider of inspection, engineering and technology services that set the standard for excellence in the market.
Our constantly evolving offerings lead the market in cyber, equipment breakdown, renewable energy, technology services, engineering based risk management and inspection services.
We bring technical expertise to help our clients stay ahead of complex, emerging and technology-based risks.
We dare to think big and we are continuously innovating on behalf of our clients.
We recognize Diversity, Inclusion, and Belonging as key priorities and a culture that welcomes different thoughts and opinions.
Together, we engage with everything we have and are, to help humankind act braver and better.
Go further with HSB.

Equal Opportunity

Creating and maintaining a work environment that promotes respect, diversity and dignity is important to us.
We strive for equality in our workplace, to eliminate employment barriers, and promote a workplace based on principles which align with our company values and promote positive employee practices.
Candidates requiring accommodation during any stage of our selection process should advise us of this; we will strive to work with individuals to find a suitable means to meet their needs.