Actuarial Analyst (Pricing)

Next Insurance, Inc.; Toronto; Hybrid; CAD 89,000 - 104,000; Full time

Benefits offered by this job

Hybrid work

Annual bonus

Health benefits

Wellness program

Pension plan

Education assistance

LinkedIn Learning

Employee referrals

Job summary

HSB Canada, part of Munich Re, seeks an Actuarial Analyst to support pricing and rating across personal and commercial lines. Based in Toronto, you will apply pricing components, develop rating structures, and monitor rate adequacy using actuarial models and data analytics.

You will collaborate with Treaty, Digital Distribution, Claims and other partners on analytics projects and automation. Ideal candidates hold a university degree in actuarial science or related field, 3+ years experience, and

Qualifications

• University degree in Actuarial Science, Business, Mathematics, Statistics, Economics or Computer Science.
• 3+ years of relevant experience in pricing and rating, with ability to translate analytics into business opportunities.
• Advanced programming knowledge and data processing abilities (VBA, Python, SQL).
• Strong interpersonal and communication skills within a team and with partners.

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 for strategic initiatives.
• Provide actuarial and statistical analysis related to rate adequacy, trends, and rating structures.
• Collaborate with Treaty, Regional Offices, Digital Distribution, New Solution Development and Claims on pricing and data needs.
• Drive pricing projects and develop automation to improve accuracy and rate adequacy.
• Measure, track and monitor product performance and advise management with supporting documentation.

Skills

Programming

Power BI

Python

SQL

VBA

Analytics

Communication

Education

University Degree in Actuarial Science, Business, Mathematics, Statistics, Economics or Computer Science

Tools

MS Office

Power BI

Job description

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.

HSB is much more! It's insurance. Engineering. Technology. To learn more about us, please visit www.hsb.ca

Primary Objectives:

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, in order to facilitate the Company planning process.

Located at our Head Office in downtown Toronto, reporting to the AVP Pricing, the role will contribute to pricing, data analytics and tool projects, using actuarial models and innovative approaches. Projects are varied and include development of rating structures and monitoring/reporting on overall rate adequacy. This role, will have exposure to rating in both personal and commercial property lines with valuable career development potential. It is an ideal position for an innovative thinker with a problem solving mindset, who is eager to learn and grow.

Job 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. Projects are varied and include 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.

Qualifications:

• 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.

Company Benefits:

Together, we engage with everything we have and are, to help humankind act braver and better. Go further with HSB. We are pleased to offer our employees great benefits and resources to support their mental, physical and financial wellbeing. These include:

• An engaging and collaborative environment that promotes continuous learning and development
• A hybrid work environment that combines weekly in-office and remote days
• A 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 - on and off the job
• Participation in the DC Pension Plan with a progressive employer contribution scale based on tenure starting at 4%, plus 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, including unlimited access to LinkedIn Learning, Education Assistance Program, and reimbursement for professional fees
• Employee Referral Program and Recognition Program

Our base salary range for this role is between $89,000 and $104,000 per year , plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to internal equity.

This role is located in our Toronto office on 390 Bay St, and we operate in a hybrid work model. This job posting is for an existing vacancy.

We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.

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.

We thank all candidates for their interest; however only those selected for interview will be contacted.