Senior Actuary, Large Accounts & Pricing Strategy

Penn Lumbermens Mut Ins Co; Philadelphia (Philadelphia County); On-site; USD 150,000 - 275,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

Tuition reimbursement

Licensing/courses covered

401K with employer match

401K bonus

Job summary

Pennsylvania Lumbermens Mutual Insurance is seeking a Lead Actuary to guide large account pricing, program structures, and rate filings. You will support the Major Account Unit and advise on IBNR allocations while staying current with industry trends and pursuing actuarial accreditations.

You will interact with Claims, Underwriting, Regulatory, IT and Accounting teams to analyze profitability, budgets and portfolio movements, and to develop pricing methodologies for new products.

Qualifications

• Bachelor’s degree in actuarial science, mathematics, statistics, economics, or related major.
• ACAS designation in progress or completed.
• 5–7 years actuarial experience with a P&C insurer; commercial lines preferred.
• Strong business acumen across underwriting, reinsurance, claims and financials.
• Ability to communicate results and objectives to senior leadership.

Responsibilities

• Collaborate with stakeholders across Claims, Underwriting, Regulatory, IT and Accounting on actuarial matters.
• Assess profitability by line of business and segment; analyze trends and development for portfolios.
• Assess reserves (case, bulk, IBNR) and advise on allocations.
• Monitor rate changes, pricing adequacy and underwriting mix for new/renewal business.
• Provide rate filing support including indications and pricing levels.
• Lead state and product rate reviews and filings per bureau changes.
• Support reinsurance analysis, rating agency presentations and ERM initiatives.
• Conduct regular competitor analyses on pricing and products.
• Develop rating methodologies for existing and new products.
• Collaborate with Underwriting and Field Operations on new offerings.
• Perform other duties as assigned by CEO and executive leadership.

Skills

Communication skills

Analytical skills

Data extraction/manipulation

BI tools (Excel/Access, VBA, SQL, or-P

Independent judgment

Education

Bachelor’s degree in actuarial science, mathematics, statistics, economics, or related major

ACAS designation (in progress or completed)

Tools

Excel/Access

VBA

SQL

Python

Job description

Pennsylvania Lumbermens Mutual Insurance is seeking a Lead Actuary to guide large account pricing, program structures, and rate filings. You will support the Major Account Unit and advise on IBNR allocations while staying current with industry trends and pursuing actuarial accreditations.

You will interact with Claims, Underwriting, Regulatory, IT and Accounting teams to analyze profitability, budgets and portfolio movements, and to develop pricing methodologies for new products.