Lead Pricing Actuary

Farmers Insurance; United States; Hybrid; USD 185,000 - 320,000; Full time

Benefits offered by this job

Competitive salary

401(k)

Medical

Dental

Vision

HSA/FSAs

Life Insurance

Paid Time Off

Paid Parental Leave

Tuition Assistance

Job summary

Farmers Insurance in the United States is seeking a Lead Pricing Actuary to shape pricing strategies for Personal and Commercial Lines. The role blends actuarial leadership with business acumen to drive profitable growth and competitive performance.

You will partner with Product, Claims, Finance, Underwriting, and Reserving to translate insights into strategic actions, mentor a high-performing team, and ensure regulatory compliance while advancing pricing excellence.

Qualifications

• Bachelor’s degree in actuarial science or related quantitative field.
• FCAS designation required.
• Minimum of 10 years actuarial experience in pricing, product management, or portfolio management.
• Deep expertise in Personal Lines pricing, esp. Personal Auto and P&C.
• Proven experience developing rate indications and profitability initiatives.
• Strong understanding of loss trends, reserving, and rate adequacy.
• Experience leading actuarial teams and mentoring talent.
• Ability to communicate complex actuarial concepts to executives.
• Proven track record influencing business decisions with data-driven insights.
• Experience with cross-functional collaboration with Product, Claims, Finance, Underwriting.

Responsibilities

• Lead pricing strategy for Personal and Commercial Lines products and markets.
• Establish rate level and rating plan recommendations using analytics and market data.
• Monitor portfolio performance and identify pricing opportunities.
• Provide actuarial leadership for financial planning and profitability targets.
• Partner with Product, Underwriting, Finance, Claims, and Distribution leaders.
• Champion innovation through advanced analytics and pricing automation.
• Ensure data integrity, governance, and regulatory compliance.
• Lead, develop, and mentor a high-performing actuarial team.
• Represent actuarial perspectives in executive reviews and decisions.

Skills

Pricing strategy

Leadership

Predictive modeling

Executive communication

Regulatory knowledge

SAS

Excel modeling

Power BI

Team leadership

Education

Bachelor’s degree in actuarial science

FCAS designation

Tools

SAS Macros

Power BI

Job description

We are Farmers – where ambition meets opportunity.

At Farmers, we’re not just known for unforgettable jingle – we’re a team with a passion for purpose and making a real difference in people’s lives. We deliver peace of mind when it matters most. Our results-driven, high-performance culture thrives on creativity, accountability and bold solutions. Here, growth isn’t just a goal – it’s a way of life for both the organization and every individual on our team. We tackle challenges head-on, learn from every experience and measure our impact on the customers who trust us.

Join an award-winning, equal opportunity employer, where you’ll find more than a job – you’ll find a supportive community. Enjoy competitive benefits, take part in meaningful volunteer projects, and help shape the future alongside talented colleagues across all backgrounds. At Farmers, helping others is at the heart of what we do.

Workplace: Hybrid ( ), Remote ( )

Farmers believes in a culture of collaboration, creativity, and innovation, which thrives when we have the ability to work flexibly in a virtual setting as well as the opportunity to be together in person. Our hybrid work environment combines the best of both worlds with at least three (3) days in office and up to two (2) days virtual for employees who live within fifty (50) miles of a Farmers corporate office. Applicants beyond fifty (50) miles may still be considered.

Job Summary

The Lead Pricing Actuary is a senior actuarial and business leader responsible for shaping pricing strategies that drive profitable growth, rate adequacy, and competitive performance across Personal and Commercial products and markets. This role leads the development of rate indications, pricing recommendations, and portfolio insights by integrating actuarial analysis, claims trends, reserving considerations, and market dynamics.

As a strategic partner to Product, Claims, Finance, Underwriting, and Reserving leaders, the Lead Pricing Actuary translates complex actuarial findings into actionable business recommendations that influence key enterprise decisions. The role provides leadership to a high-performing actuarial organization, develops talent, and serves as a trusted advisor to senior leadership on matters impacting growth, profitability, and long-term business performance.

Essential Tasks & Leadership Philosophy

• Lead pricing strategy for assigned Personal and Commercial Lines products and markets, ensuring alignment with profitability, growth, retention, and competitive objectives.
• Establish rate level and rating plan recommendations using actuarial analysis, predictive modeling, business performance insights, and market intelligence.
• Monitor portfolio performance and emerging trends to identify opportunities and recommend pricing actions that drive business results.
• Provide actuarial leadership for financial planning, including rate activity, premium growth, loss trends, profitability targets, and other key business metrics.
• Partner with Product, Underwriting, Finance, Claims, and Distribution leaders to influence strategic decisions and deliver actionable business insights.
• Champion innovation through advanced analytics, predictive modeling, process improvement, and pricing automation.
• Ensure the integrity of pricing data, models, tools, and governance processes while maintaining compliance with regulatory requirements and actuarial standards.
• Lead, develop, and mentor a high-performing actuarial organization, fostering a culture of accountability, continuous improvement, collaboration, and technical excellence.
• Represent actuarial perspectives in business performance reviews and executive presentations, including exposure to senior leadership.

First Year Success Factors

Within the first 12 months, a successful candidate can expect to have achieved the following:

• Quickly develop a deep understanding of Bristol West's pricing processes, portfolio dynamics, and business objectives.
• Build credibility with an already strong actuarial team and effectively leverage existing leadership talent.
• Establish themselves as a trusted member of the Bristol West leadership team.
• Strengthen collaboration across Product, Claims, Finance, and Reserving functions.
• Demonstrate strong business acumen and executive presence by connecting actuarial insights to business outcomes.
• Drive informed pricing decisions that balance profitability, growth, retention, and market competitiveness.

Education & Career Experience Requirements

Candidates would ideally reflect the following professional qualifications and experience:

• Bachelor’s degree in actuarial science, Mathematics, Statistics, Finance, Economics, or a related quantitative discipline.
• Fellow of the Casualty Actuarial Society (FCAS) designation required.
• Minimum of 10 years of actuarial experience, including progressive responsibility in pricing, product management, or portfolio management.
• Deep expertise in Personal Lines pricing, preferably within Personal Auto and broader Property & Casualty insurance.
• Proven experience developing rate indications, pricing strategies, and profitability improvement initiatives.
• Strong understanding of loss trends, claims performance, reserving impacts, and rate adequacy analysis.
• Experience leading actuarial teams and developing talent through coaching, mentorship, and performance management.
• Ability to communicate complex actuarial concepts and analytical findings to executive and non-technical audiences.
• Proven track record influencing business strategy and driving decisions through data-driven insights.
• Experience partnering with Product, Claims, Finance, Underwriting, and senior business leaders.
• Strong knowledge of state rate filings, regulatory requirements, and actuarial standards of practice.

Preferred Qualifications

• Non-standard Personal Auto pricing experience.
• Experience working within a large, multi-state insurance carrier.
• Previous leadership responsibility for actuarial managers or other people leaders.
• Experience presenting pricing recommendations and business performance results to executive leadership.
• Familiarity with predictive modeling, pricing optimization, and advanced analytical techniques.
• Experience balancing growth, retention, and profitability objectives within competitive insurance markets.

Technical Skills

• Advanced proficiency in SAS and SAS Macros.
• Strong Excel modeling and analytical capabilities.
• Experience utilizing Power BI or similar business intelligence platforms.
• Ability to leverage large datasets, predictive analytics, and visualization tools to support pricing decisions.
• Strong analytical, problem-solving, and decision-making skills.

Benefits

• Farmers offers a competitive salary commensurate with experience, qualifications and location.
• CA Only: $191,475 - $325,490
• CO & ME: $179,850 - $280,830
• HI/IL/MN/VT Only: $179,850 - $300,190
• MA Only: $179,850 - $300,190
• o MD & VA: $179,850 - $300,190
• DC/NJ/NY/OH Only: $179,850 - $325,490
• Albany County, NY/Cleveland, OH: $191,475 - $280,830
• WA Only: $179,850 - $341,125
• Bonus Opportunity (based on Company and Individual Performance)
• 401(k)
• Medical
• Dental
• Vision
• Health Savings and Flexible Spending Accounts
• Life Insurance
• Paid Time Off
• Paid Parental Leave
• Tuition Assistance
• For more information, review “What we offer” on https://www.farmers.com/careers/corporate/#offer

Job Location(s): R_US - United States

Anticipated application deadline: At Farmers, the recruitment process is designed to ensure that we find the best talent to join our team. As part of this process, we typically close open positions within 8 to 21 days after posting. If you are interested in any of our open positions, we encourage you to submit your application promptly.

Farmers will consider for employment all qualified applicants, including those with criminal histories, in accordance with the Los Angeles Fair Chance Initiative for Hiring Ordinance or other applicable law. Pursuant to 18 U.S.C. Section 1033, Farmers is prohibited from employing any individual who has been convicted of any criminal felony involving dishonesty or a breach of trust without prior written consent from the state Department of Insurance.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Farmers is an Equal Opportunity Employer and does not discriminate in any employer/employee relations based on race, color, religion, gender, sexual orientation, gender expression, genetic information, national origin, age, disability, marital status, military and veteran's status, or any other basis protected by applicable discrimination laws.