Manager, R&D (Property and Casualty Insurance)

Travelers; Toronto; On-site; CAD 90,000 - 120,000; Full time

Job summary

A leading company in the insurance sector is seeking a Manager for their R&D team in Toronto. This role focuses on pricing and segmentation initiatives, requiring strong analytical skills and a solid understanding of insurance concepts. The ideal candidate will have a STEM degree and significant experience in statistical modeling and project management.

Benefits

Health Insurance

Retirement contribution

Paid Time Off

Wellness Program

Volunteer Encouragement

Qualifications

• 5 years of insurance experience required.
• Experience in developing and maintaining insurance pricing models.
• Strong understanding of insurance products and industry.

Responsibilities

• Lead execution of strategic initiatives and projects.
• Perform advanced statistical analyses and manage multiple research projects.
• Develop and implement predictive models for insurance pricing.

Skills

Statistical analysis

Predictive modeling

Project management

Problem-solving

Education

Bachelor's degree in STEM fields

Tools

SAS

Python

Job description

Who Are We?

Solid reputation, passionate people, and endless opportunities. That’s Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers – and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Category

Actuarial, Data Analytics

Target Openings

1

What Is the Opportunity?

The actuarial R&D team is seeking an innovative individual to join our team. The Manager, R&D will support pricing and segmentation initiatives for our commercial lines businesses. This role involves supporting and managing projects for our mid-market and small commercial P&C and Auto products, developing new and enhancing existing pricing models using various statistical analyses including predictive modeling and actuarial techniques.

The individual should have an understanding of ratemaking and insurance concepts, demonstrated project management skills, and the ability to collaborate and communicate with multiple partners. The role requires being an influential team member, providing analytical insights and recommendations to leadership and business partners.

What Will You Do?

1. Participate in leading the successful execution of strategic initiatives and projects.
2. Perform and manage advanced statistical analyses, including machine learning and actuarial research techniques.
3. Analyze data, draw business inferences, and communicate findings effectively.
4. Manage multiple research projects simultaneously.
5. Apply, validate, and implement predictive models for insurance pricing, customer retention, and new business conversion.
6. Explore and evaluate new data sources.
7. Stay informed about industry developments, trends, and jurisdictional issues by attending seminars and conferences.
8. Develop and maintain relationships with business partners.
9. Collaborate across organization levels to ensure consistency and alignment.

What Will Our Ideal Candidate Have?

• Bachelor's degree in STEM fields with 5 years of insurance experience.
• Experience in developing and maintaining insurance pricing models.
• Strong understanding of insurance products and industry.
• Proficiency in statistical software such as SAS or Python.
• Ability to develop advanced programs from scratch.
• Capability to develop and interpret advanced models.
• Problem-solving skills with sound judgment and realistic understanding of issues.
• Knowledge of database principles, data profiling, statistics, and data modeling, with application in complex situations.

What Is in It for You?

• Health Insurance: Coverage from day one for employees and eligible family members.
• Retirement: 3% core contribution to Deferred Profit Sharing Plan, plus matching up to 5% of base pay.
• Paid Time Off: Minimum of 20 PTO days plus options to purchase more, plus 12 holidays.
• Wellness Program: Resources and tools to support wellness and mental health, including free counseling sessions.
• Volunteer Encouragement: Programs to support community involvement through matching gifts and volunteer rewards.

Travelers is an equal opportunity employer committed to diversity and providing accommodations for persons with disabilities. For questions about physical requirements, contact us via email. We reserve the right to fill the position at a different level. For more information on benefits, visit our benefits page.