Senior Actuarial Analyst: Commercial Lines - Remote

Preferred Mutual; Northern (KY); Hybrid; USD 93,000 - 135,000; Full time

Benefits offered by this job

Short-term disability

Long-term disability

Life insurance

Enhanced life insurance option

401k with employer contribution

Pension Plan

Short-term incentive plan

25 days PTO

Sick leave

Company holidays

BetterHelp access

Medical, dental, vision coverage

Health Savings Account (HSA)

Job summary

Preferred Mutual seeks a Senior Actuarial Analyst for Commercial Lines to provide actuarial support, rate filing expertise and strategic analytics in a remote capacity. You will own rating plans, collaborate with Underwriting and Analytics, and guide pricing changes while advancing actuarial exams.

You will work with Earnix/Akur8/Quantee and GLM-based pricing, leveraging company data sources to drive insights and regulatory compliance.

Qualifications

• Bachelor's degree in actuarial science, mathematics, or a related area.
• 4+ years of actuarial experience in comparative areas, with at least 2 years of Commercial lines insurance pricing.
• Successful completion of 4 full actuarial exams.
• Strong knowledge of property and casualty insurance products.
• Ability to work remotely.
• Proficient computer skills including Microsoft Office Suite and SQL.
• Experience working with rating plans that incorporate GLMs.
• Experience with Earnix, Akur8, Quantee, or similar actuarial software a bonus.

Responsibilities

• Become an owner and expert on our commercial lines insurance rating plans and rate indications.
• Compile rate filing support for program changes.
• Work with Underwriting and Analytics to review segment performance and suggest product changes to address business concerns.
• Support deep-dive analyses into emerging market trends, competitor pricing strategies, and industry developments.
• Ensure compliance with regulatory requirements and actuarial standards.
• Manage assigned projects to meet deadlines and ensure a quality product.
• Help the Management and business teams understand the results through effective analysis and communication.
• Become proficient in the use of company data sources.
• Partner with the Data & Analytics team to: Ensure effective actuarial reports and dashboards, Monitor emerging trends in both claims and premiums, Monitor performance of Pricing/Underwriting Models and initiate change as necessary, Participate in the building of new pricing and underwriting models.
• Participate and support the enhancement of actuarial tools utilizing new technologies.
• Further your education through CAS actuarial exams and industry research while also applying what you’ve learned on the job.

Skills

SQL

Microsoft Office

GLM

Actuarial exams

Education

Bachelor's degree in actuarial science or mathematics

Tools

Earnix

Akur8

Quantee

Job description

Current job opportunities are posted here as they become available.

Senior Actuarial Analyst: Commercial Lines - Remote

Please note, employment offered to residents in the following states only: Connecticut, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont.

At Preferred, we understand the importance of holistic health. To meet the diverse needs of our employees, we offer a comprehensive set of benefits:

• Short-term disability, long-term disability, and life insurance coverage are provided at no cost
• Optional benefits include enhanced life insurance and critical illness plans
• 401k plan with an employer contribution that you will receive regardless of your own contribution to the plan
• Pension Plan
• Company-wide short-term incentive plan

Social

• Generous paid time off, offering of 25 days at hire (prorated based on start date for the first year)
• 7 days of paid sick leave
• 10 paid company holidays
• Personalized paid time off after 3 years!

Emotional

• Access to 26 Sessions with BetterHelp for you and up to 5 dependents - at no cost!

Physical

• Medical, dental, and vision coverage options begin on the first day of employment
• Health Savings Accounts (with generous employer contribution) are available

YOUR PURPOSE AND FUNCTION IN OUR COMPANY:

In this role, the Senior Actuarial Analyst will provide actuarial support for the commercial lines' segments of Preferred Mutual business. Success in this position will be characterized by meeting agreed upon deadlines, independently managing workload given company priorities, producing a work product that is error free, progressing through actuarial exams, and growing actuarial acumen.

The Senior Actuarial Analyst will:

• Become an owner and expert on our commercial lines insurance rating plans and rate indications.
• Compile rate filing support for program changes.
• Work with Underwriting and Analytics to review segment performance and suggest product changes to address business concerns.
• Support deep-dive analyses into emerging market trends, competitor pricing strategies, and industry developments.
• Ensure compliance with regulatory requirements and actuarial standards.
• Manage assigned projects to meet deadlines and ensure a quality product.
• Help the Management and business teams understand the results through effective analysis and communication.
• Become proficient in the use of company data sources.
• Partner with the Data & Analytics team to:
  • Ensure effective actuarial reports and dashboards.
  • Monitor emerging trends in both claims and premiums.
  • Monitor performance of Pricing/Underwriting Models and initiate change as necessary.
  • Participate in the building of new pricing and underwriting models.
• Participate and support the enhancement of actuarial tools utilizing new technologies.
• Further your education through CAS actuarial exams and industry research while also applying what you’ve learned on the job.

QUALIFICATIONS:

• Bachelor's degree in actuarial science, mathematics, or a related area.
• 4+ years of actuarial experience in comparative areas, with at least 2 years of Commercial lines insurance pricing.
• Successful completion of 4 full actuarial exams.
• Strong knowledge of property and casualty insurance products.
• Ability to work remotely.
• Proficient computer skills including Microsoft Office Suite and SQL.
• Experience working with rating plans that incorporate GLM's.
• Experience with Earnix, Akur8, Quantee, or similar actuarial software a bonus.

CAREER ADVANCEMENT BENEFITS:

• PMIC supports completing actuarial exams and obtaining FCAS designation.

ABOUT US: As a mutual company, we are independent by nature, so we think about insurance solutions a little differently. Through listening, problem solving, examining your challenges and collaborating on the right solutions for you, Preferred Mutual independent agents provide flexible solutions and adapt to your evolving needs. We do the same for our employees. We are process and domain experts, focused on the solutions that deliver results for our clients and our company. We offer a great work environment, professional development, challenging careers, and competitive compensation. With Preferred, there are no surprises. You can count on us to deliver on our promises and be there when you need us, as your insurance provider and your employer. Preferred Mutual is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability, protected veteran status or other characteristics protected by law.

DISCLAIMER: This role (job) description indicates in general terms, the type and level of work performed as well as the typical responsibilities of employees in this classification. The duties described are not to be interpreted as being all-inclusive to any specific employee. Management reserves the rights to add, modify, change or rescind the work assignments of different positions and to make reasonable accommodations so that qualified employees can perform the essential functions of the job. Nothing in this position description changes the at-will employment relationship existing between Preferred Mutual Insurance Company and its employees.

The base pay range for this position is $92,500-$135,000 per year paid on a salaried basis. The rate offered to any candidate will be reflective of the candidate's experience and any relevant education, certification, or qualifications related to their ability to perform the responsibilities of this position as permitted by law.