Commercial Lines Pricing Actuary - Hybrid

NJM Insurance Group; Ewing Township (NJ); On-site; USD 90,000 - 130,000; Full time

Job summary

NJM Insurance Group is seeking an experienced Actuary to support pricing and product profitability across Auto, Homeowners, Workers’ Compensation, and Commercial Lines. The role combines data analysis with strategic pricing decisions to maintain financial strength.

The position is hybrid, with three days in the West Trenton, NJ office and two days remote, offering opportunities to influence pricing and risk analytics across multiple lines.

Qualifications

• Bachelor's degree in actuarial science, mathematics, statistics, or related field.
• 6+ years of property and casualty actuarial experience.
• ACAS or FCAS credential.
• Proficiency in Microsoft Excel, Word, and PowerPoint.
• Excellent verbal and written communication skills.

Responsibilities

• Perform pricing studies to evaluate profitability of Auto, Homeowners, Workers' Comp, and Commercial Package.
• Analyze rating variables based on company data and competitor information.
• Analyze frequency, severity, and premium trends.
• Analyze loss and LAE reserves.
• Assist with annual loss and LAE ratio planning.
• Collaborate with cross-functional teams to develop insights and recommendations.
• Contribute to development of actuarial tools and processes.

Skills

Excel

Word

PowerPoint

SQL

SAS

Communication

Education

Bachelor's degree in actuarial science, mathematics, statistics, or related field

ACAS or FCAS credential

Tools

SQL

SAS

Job description

New Jersey Manufacturers Insurance Company (NJM) was founded in 1913 by a group of manufacturers seeking to provide cost-effective, safety conscious and financially secure workers' compensation insurance for their workers. From inception the Company has operated as a mutual, with a focus on the needs of its policyholders.

Today, NJM Insurance Group, is a leading mid-sized U.S. property and casualty insurance company with 90 consecutive years of A+ financial strength ratings by AM BEST. Due to exceptional employee experience, NJM has been included on the latest Forbes List of Best Employers in New Jersey for the fourth year in a row. The NJM reputation for being a top provider of outstanding customer service was reaffirmed by the most recent J.D. Power Auto Insurance Claims Survey.

Over the last five years, the Company has focused on a strategic plan that calls for it to become a regional property & casualty insurer and has transitioned away from its affinity-based membership model. To that end, the Company has added an independent agency model for new lines of middle and large commercial and has more than doubled its product offerings. NJM now offers its various products to businesses across New Jersey, Pennsylvania, New York, Maryland, Delaware, and Connecticut.

NJM’s Commercial Lines department conducts business for policyholders and preferred agencies within the Mid-Atlantic region, specifically NJ, PA, NY, MD, DE, CT. Products include Commercial Auto, G/L, Workers Comp, BOP, Excess/Umbrella, and Package. The Commercial Lines function encompasses Underwriting, Sales, Operations, Premium Audit, Product Management, Product Development, Loss Prevention and Business Process Unit.

The Actuary (this role can be filled at the level, I, II or Senior level) will support NJM’s efforts to attract new policyholders, retain existing policyholders, and honor our commitment to pay claims by developing fair and competitive pricing, providing comprehensive product analysis, and ensuring that NJM maintains a strong financial position.

This role is hybrid working 3 days in the West Trenton, NJ office and 2 days from home.

Essential Duties and Responsibilities:

• Perform pricing studies to evaluate the profitability of our Auto, Homeowners, Workers’ Compensation, and Commercial Package insurance products.
• Analyze rating variables based on company data and competitor information and recommend changes.
• Perform analysis of frequency, severity, and premium trends.
• Perform analysis of loss and LAE reserves.
• Assist with the annual loss and LAE ratio planning process.
• Collaborate with cross-functional teams to develop business insights and recommendations.
• Contribute to the ongoing development of actuarial tools and processes to enhance the department’s capabilities over time.

Required Qualifications:

• Bachelor’s degree in actuarial science, mathematics, statistics, or related field.
• 6+ years of property and casualty actuarial experience.
• ACAS or FCAS credential.
• Proficiency in Microsoft Excel, Word, and PowerPoint.
• Excellent verbal and written communication skills.

Preferred Qualifications:

• Experience with SQL, SAS, or other programming languages a plus.

This role can be filled at the Analyst, Associate or Senior level and the salary is commensurate based on experience.