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About the Role
The Pricing Actuarial Analyst will support the Product Manager in developing pricing proposals and conduct profitability and trend analysis to aid management decision-making.
Responsibilities
- Develop state/product rate indications following the rate review schedule and adhering to Actuarial Standards of Practice and company standards.
- Develop competitive and impact analyses using Radar to assist business partners in creating rate proposals.
- Track changes from ISO and Workers’ Compensation rating bureaus.
- Prepare rate filings and collaborate with state insurance departments for regulatory approval.
- Prepare system files and ensure timely and accurate implementation of rates.
- Create new or improve existing documentation.
- Develop loss experience and product profile analyses, monitoring company and industry trends in loss ratio, frequency, severity, premium, and policy growth, and communicating results to business partners.
- Assist in preparing semi-annual rate indications for all state/product combinations for tracking and planning.
- Support the maintenance and development of actuarial pricing models.
Requirements
- Bachelor's degree in Mathematics, Statistics, Actuarial Science, or related field.
- Experience in the actuarial field, property/casualty insurance company, or agency is preferred.
- Credit for two exams and commitment to pursuing actuarial credentials from the Casualty Actuarial Society is preferred.
- Proficiency in Excel.
- General programming and/or database skills; SQL experience preferred.
- PowerBI or Tableau experience is a plus.
- Proficiency in pricing concepts, P&C products/coverages is preferred.
- Experience with Radar or similar rating software is a plus.
- Excellent analytical, problem-solving, and organizational skills.
- Detail-oriented with strong time-management skills to plan, prioritize, and meet deadlines.
- Action-oriented with a focus on accuracy and results, including the ability to persevere in a variety of situations.
- Strong written and verbal communication skills.
- Ability to excel independently as well as contribute effectively to a team environment.
Skills
- Excel
- SQL
- PowerBI
- Tableau
- Radar
- Pricing concepts
- P&C products/coverages
- Analytical skills
- Problem-solving skills
- Organizational skills
- Time-management skills
- Communication skills
Location
- Buffalo, NY
Work Type
- Hybrid
Experience Level
- Preferred experience in actuarial field, property/casualty insurance company, or agency.
Education Level
- Bachelor's degree in Mathematics, Statistics, Actuarial Science, or related field.
Salary/Compensations
- $60,000 - $80,000
Benefits
- Actuarial Student Program participation.
- Welcoming and positive work environment.
- Flexible work arrangements, including flex scheduling and summer hours.
- Hybrid work schedule.
- Colleague Appreciation Events.
- Competitive pay scale.
- Outstanding company bonus program.
- Generous paid time off package.
- Health, Dental, Vision, Life Insurance.
- Short Term Disability.
- 401(k) employer match: 100% up to 6% of annual contributions, immediately 100% vested.
- Tuition Reimbursement.
About the Company
- Merchants Insurance Group is a leading Property and Casualty Insurer in the Northeast.
- Rated A- (Excellent) with a stable outlook by A.M. Best.
- Consistently recognized as a top employer and high-performing organization.
- Recent honors include: Best Places to Work in Western New York (2023–2026), Fast Track Company (2019–2025), Top Private Company (2019–2025), Ward’s 50® top-performing property-casualty insurer (2021–2024), Ivans Spark Award for Innovation (2024–2025), and Newsweek and Statista’s America’s Most Reliable Companies list (2025).
Equal Opportunity
- Merchants Insurance Group is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.
- Merchants Insurance Group supports a safe workplace through pre-employment background screenings.