Senior Actuarial Analyst, Pricing

At-Bay; Chicago (IL); On-site; USD 120,000 - 135,000; Full time

Job summary

A cybersecurity insurance provider is looking for a Senior Actuarial Analyst to join their Pricing team in Chicago. In this role, you will enhance the risk assessment framework, manage program profitability, and work collaboratively across teams to implement pricing strategies. Ideal candidates should have strong analytical skills, proficiency in Excel, SQL, and experience with Python or R. The position offers a base salary between $120,000 and $135,000 per year and focuses on leveraging data for key business decisions.

Qualifications

• 4+ actuarial exams completed towards ACAS, FCAS, or equivalent.
• Experience working cross-functionally in analytics.
• Skills in automating processes using Excel or similar tools.

Responsibilities

• Enhance risk assessment framework with data-driven decisions.
• Improve pricing accuracy and manage program profitability.
• Collaborate with various teams to implement new product structures.

Skills

Proficiency with Excel

SQL

Python

R

Actuarial techniques

Education

ACAS, FCAS, or equivalent designation

Tools

Data analysis tools

Job description

About At-Bay

At-Bay is the world’s first InsurSec provider designed from the ground up to help businesses tackle cyber risk head on. By combining industry-leading insurance with world-class cybersecurity technology, At-Bay offers end-to-end prevention and protection for the digital age. With 98% of cyber insurance claims in the past five years coming from small and mid-size businesses with revenue under $2B, providing an integrated solution to help manage risk is more critical than ever.

At-Bay helps its 35,000+ customers close their security technology and skills gap — all through their cyber insurance policy — making them less likely to be hit with a ransomware attack. As a full-stack insurance company, At-Bay offers multiple lines of specialty insurance, including Cyber, Tech E&O, and Miscellaneous Professional Liability (MPL) policies.

Why you should join our Actuarial Pricing team:

As an Senior Actuarial Analyst on the Pricing team, you will be working under the risk function with talented team members in modeling, risk analytics, decision engine, insurance and tech product. The Pricing team has helped At-Bay launch new products, secure reinsurance capacity, quantify and manage risk related KPIs and adjust pricing to drive profitable growth.

You’ll join a growing team of actuaries and actuarial analysts of diverse backgrounds and report to our Actuarial Director. You’ll be surrounded by a team that loves what they do, leverages technology to improve efficiency & minimize duplicative work, and recognizes the enormous responsibility that they have – to support key business decisions with data backed insights and a deep understanding of insurance risk.

Role overview:

Your work will directly contribute to At-Bay’s risk assessment framework that helps with data-driven decisions involving millions of dollars of exposure. This is a multidisciplinary role that includes developing deep cyber and tech knowledge, business acumen, research, and analytical skills. This is also a hands‑on operational role where you’ll see in house submission, quotes and binds and understand how each risk decision will impact on the business.

You will manage the overall program profitability, improve pricing accuracy, and work cross‑functionally with Insurance & Tech Product, Underwriting, Claims, and Decision Engine teams on the implementation of those products. You will be responsible for leading and supporting a wide variety of pricing and underwriting related initiatives, quantifying the impacts and implications of those initiatives on the business and identifying ways to the overall economics of the business.

How you’ll make an impact:

• You’ll understand At‑Bay’s internal data structure and develop key relationships across the business
• You’ll have reviewed the existing Cyber and Tech E&O product structures, related tools, and related data sources to track and analyze product performance
• You’ll have completed a quarterly rate indication and presented your recommendation to key stakeholders
• You’ll identify areas of improvement in our systems and processes

By 6 months…

• You’ll have developed a proposal to modify the Cyber rate plan and have evaluated the proposal will have on the business
• You’ll have improved the depth and efficiency of the existing rate indication process via automation and/or innovation
• You’ll have analyzed customer acquisition and retention data to improve At‑Bay’s ability to understand the economics of the business
• You’ll help coach team members and key stakeholders to understand actuarial analytics, Cyber pricing and risk, and how it differs from traditional pricing and other lines of business

What you’ve accomplished already:

• You’ve evaluated the profitability of a portfolio of insureds using actuarial techniques and communicated the results to leadership
• You’ve worked cross‑functionally with underwriting, product management, data science, claims or other analytical departments to solve complex business problems
• You’ve developed tools to automate existing processes and/or improve visibility into the performance of the products
• You’ve analyzed competitor rating plans and interpreted the results to improve your pricing and/or underwriting structures
• You’ve passed 4+ exams in pursuit of your ACAS, FCAS, or other equivalent designation
• You’ve achieved proficiency with Excel and SQL, and have experience with Python and/or R

Our estimated base pay range for this role is $120,000-135,000 per year. Base salary is determined by a variety of factors including but not limited to market data, location, internal equitability, domain knowledge, experiences and skills. In general, if the position sparks your interest we encourage you to apply - our team prioritizes talent.