Actuarial Analyst Sr - Insurtech Programs

Munich Reinsurance America, Inc; Princeton (NJ); On-site; USD 84,500 - 140,900; Full time

Benefits offered by this job

Health insurance

401k match

Paid holidays and PTO

Life and disability insurance

Tuition assistance

Job summary

Munich Re Specialty - North America is seeking an Actuarial Analyst Sr for Insurtech Programs to provide pricing and rating support for the MRS-NA Insurtech Programs. The role involves analyzing, modeling and rating potential solutions, plus supporting rate filings across multiple locations including Princeton, NY, and Hartford.

You will prepare pricing analyses, contribute to actuarial models, monitor results and communicate assumptions to clients and internal teams while pursuing CAS exams and

Qualifications

• Bachelor's degree in Mathematics, Actuarial Science, Economics, Business or related field.
• Passed four to six actuarial exams for Actuarial Analyst Senior level.
• ACAS for Associate Actuary level.
• At least four years of insurance/reinsurance and actuarial pricing experience.
• Good technical actuarial skills.
• Proficient in MS Office Suite including PowerBI, Python, SAS, or R.

Responsibilities

• Prepare and complete pricing analyses with rates, ultimate loss projections and communication of results; develop and update actuarial models and databases.
• Support result monitoring, pricing and portfolio management projects; document assumptions, results and alternatives for clients and colleagues.
• Discuss and apply actuarial concepts/techniques including exposure adjustments, trend, loss development, exposure rating with guidance.
• Identify data issues requiring specialized actuarial attention.
• Provide actuarial insight as a participant on a Line of Business Expert Group.
• Pursue formal CAS exams and participate in training of others.

Skills

Actuarial exam progression

Communication skills

MS Office proficiency

Education

Bachelor's degree in Mathematics, Actuarial Science, Economics, Business or related field

Tools

PowerBI

Python

SAS

R

MS Office

Job description

All locations

New York, United States; Hartford, United States; Princeton, United States;

Actuarial Analyst Sr - Insurtech Programs

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!

This position provides actuarial pricing/rating support for MRS-NA Insurtech Programs. This person will support the program business in meeting its goals by analyzing, evaluating, modeling and rating potential competitive solutions for our clients, as well as supporting rate filings.

Key Responsibilities:

• Prepare and complete pricing analyses with some guidance, including the development of rates, ultimate loss projections and communication of results. Participate in development and update of Actuarial models and databases through formula development, research on methodologies, and collaboration with technical teams.
• Support for result monitoring, pricing and portfolio management projects that will assist underwriters and management in managing and steering business. Document and communicate assumptions, results, and alternatives to actuarial staff and internal and external clients.
• 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.
• Identification of data issues requiring specialized actuarial attention
• Provide actuarial insight and expertise as a participant on a Line of Business Expert Group
• Pursue formal education via Casualty Actuarial Society (CAS) exams.
• Participate in training of others (underwriters, client managers, risk analysts, accountants and actuaries) regarding actuarial analyses and methodologies.

Qualifications:

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

• Bachelor's degree in Mathematics, Actuarial Science, Economics, Business or related field.
• Passed four (4) to six (6) actuarial exams for Actuarial Analyst Senior level.
• ACAS for Associate Actuary level.
• At least four (4) years of insurance/reinsurance and actuarial pricing experience.
• Good technical actuarial skills.
• 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 Python, SAS, R or other statistical software in insurance pricing applications.
• Excellent oral and written communication skills and interpersonal skills.

The Company is open to considering candidates in numerous locations, including Princeton (NJ), New York (NY), or Hartford (CT). The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $84,500 - $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 is adjusted to reflect the varying market conditions across different locations, with the higher end being more aligned with the New York job market. 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.