Commercial Lines Pricing Actuary

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West Trenton, NJ

NJM Insurance Group

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keywords: position summary,analysis,teamwork,build,leadership,business development,education,experience,skills,knowledge

Full Time

Overview: The Commercial Lines Pricing Actuary applies analytical and creative talents to commercial lines ratemaking and modeling, large account pricing, financial studies, competitor analysis, product development, and other high-profile initiatives.
Responsibilities: <ul> <li>Performs analysis of commercial lines rate reviews for both existing and new lines of business and jurisdictions including CMP, Commercial Auto Liability, Workers Compensation, Commercial Umbrella, and BOP.</li> <li>Supports Primary Commercial Lines account pricing and financial analyses.</li> <li>Provides actuarial support for loss cost reviews, rate filings, and other regulatory requirements.</li> <li>Collaborates with underwriting product development, predictive analytics, and actuarial staff to develop transparent and user-friendly commercial lines, pricing models.</li> <li>Develops profitability and competitor analyses.</li> <li>Contributes to ad hoc requests from commercial lines underwriting staff.</li> <li>Builds understanding of the pricing/rating of new products and creates clear and informative management reports as needed.</li> <li>Large Account pricing.</li> <li>Maintains awareness of commercial lines industry and actuarial trends and applies this knowledge to enhance existing products and services and supports the creation of new ones.</li> <li>Proactively researches and implements actuarial pricing best practices to promote adequate and competitive premium as well as NJM business growth and retention targets.</li> <li>Mentor Actuarial Analysts.</li> </ul>
Requirements: <ul> <li>BA or BS in Mathematics, Statistics, Finance, or a related discipline</li> <li>Minimum of three years of commercial lines pricing experience within the property/casualty primary insurance industry.</li> <li>ACAS or FCAS credential preferred.</li> <li>Proficient use of the Microsoft Office suite of products.</li> <li>Demonstrated knowledge of SAS, SQL, or related programming language, a plus.</li> <li>Self-motivated individual with an excellent professional demeanor and interpersonal skills; accountable for accurate and timely work products.</li> <li>Exceptional verbal and written communication skills; outstanding ability to clearly explain and document technical concepts and conduct presentations to senior management.</li> </ul>