Actuarial Analyst Sr - Digital Underwriting

Next Insurance, Inc.; New York (NY); On-site; USD 96,000 - 141,000; Full time

Benefits offered by this job

Health Insurance

401k Plan

Paid Time Off

Bonus Potential

Tuition Assistance

Wellness Program

Job summary

Munich Re Specialty - North America in New York City is seeking a Sr Actuarial Analyst to support pricing for Digital Underwriting across Excess & Surplus, Commercial Property, and General Liability. You will analyze data, build models, and provide rate recommendations to help drive profitable growth.

The role requires a math/actuarial background, four CAS exams, three years pricing experience, and strong technical skills with MS Office and PowerBI; experience with R/Python/SAS is a plus.

Qualifications

• Bachelor-level degree in a math/actuarial/economics/business field or related.
• Four Casualty Actuarial Society exams completed.
• At least three years of insurance/reinsurance pricing experience.
• Strong actuarial technical skills.
• Ability to discuss/apply actuarial concepts like exposure, loss development, trend with guidance.
• Proficient in MS Office; PowerBI experience required or preferred.
• Experience with R, Python, SAS in pricing applications preferred.
• Excellent oral and written communication skills.
• Good judgment and problem-solving abilities for high-profile issues.
• Strong time management and ability to manage multiple tasks.

Responsibilities

• Partner with the business unit to drive pricing excellence for Digital Underwriting across lines (Excess & Surplus Homeowners, Commercial Property, General Liability).
• Prepare pricing analyses, develop rates, and project losses and trends.
• Develop and update actuarial models and databases; collaborate with technical teams.
• Support monitoring and portfolio management; communicate assumptions and results to stakeholders.
• Identify data issues needing actuarial attention.
• Research competitor rates and industry trends for pricing benchmarks.
• Provide actuarial insight on MRAP line of business group and parameters.
• Collaborate with underwriting, data science, and engineering teams during testing and model integration.

Skills

Analytical skills

Communication skills

MS Office

Education

Bachelors Degree in Mathematics/Actuarial Science/Economics/Business

Tools

PowerBI

R

Python

SAS

Job description

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

The Opportunity

Future focused and always one step ahead!

Are you ready for a new challenge? We are looking to hire a Sr Actuarial Analyst to provide actuarial pricing/rating support for Munich Re Specialty-North America (MRSNA). Support Digital Underwriting by analyzing, evaluating, modeling and rating potential competitive solutions for our clients. This individual will support profitable growth across existing and new programs in support of Munich Re Group’s multi-year strategy.

Key Responsibilities:

• Partner with the business unit as a trusted advisor to drive pricing excellence for Digital Underwriting, including Excess & Surplus Homeowners, Commercial Property and General Liability lines of businesses.
• Prepare and complete pricing analyses, including the development of rates, ultimate loss projections and trend studies with some guidance. Communicate results of analyses to stakeholders.
• Participate in development and update of actuarial models and databases through formula development, research on methodologies, and collaboration on technical teams.
• Support result monitoring, pricing and portfolio management projects that will assist underwriters and management in understanding and steering business. Document and communicate assumptions, results, and alternatives to actuarial staff and internal and external clients.
• Identification of data issues requiring specialized actuarial attention.
• Perform research on relevant competitor rates and industry trends which will serve as benchmarks for pricing.
• Provide actuarial insight and expertise on actuarial assumptions and parameters as participant on a Market Research Analysis and Parameters (MRAP) line of business group.
• Work closely with underwriting, data science and engineering teams to resolve any issues during testing and integration of the pricing models and algorithms.

Qualifications:

Successful candidates will possess the following experience/skills/qualifications:

• Bachelors Degree in Mathematics, Actuarial Science, Economics, Business or related field.
• Passed at least four (4) Casualty Actuarial Society exams.
• At least three (3) years of insurance/reinsurance and actuarial pricing experience.
• Good technical actuarial skills.
• 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.
• 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 R, Python, SAS or other statistical software in insurance pricing applications is preferred.
• Excellent oral and written communication skills.
• Good judgmental and problem-solving skills to address potentially complex and high-profile issues.
• Good time management and organizational skills including the ability to manage conflicting priorities, complete multiple tasks and projects.

The Company is open to considering candidates in New York City. The salary range posted below applies to the Company’s New York City location.

The base salary range anticipated for this position is $96,100 - $140,900 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in New York City. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

• Two options for your health insurance plan (PPO or High Deductible).
• Prescription drug coverage (included in your health insurance plan).
• Vision and dental insurance plans.
• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
• Short and Long Term Disability coverage.
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

• A robust 401k plan with up to a 5% employer match
• A retirement savings plan that is 100% company funded.
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. 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.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.