What are the responsibilities and job description for the Actuarial Rating Systems Consultant (Radar / Pricing) position at Princeton IT Services, Inc?
Job Title: Actuarial Rating Systems Consultant (Radar / Pricing)
Location: New Jersey or Philadelphia (Onsite)
Job Type : Contract
Scope Of Work Highlights
Work closely with Insurance client’s Actuarial Lead to ensure the successful execution of day-to-day activities and deliverables for Rating Externalization-related projects which will include:
Location: New Jersey or Philadelphia (Onsite)
Job Type : Contract
Scope Of Work Highlights
Work closely with Insurance client’s Actuarial Lead to ensure the successful execution of day-to-day activities and deliverables for Rating Externalization-related projects which will include:
- Radar Base Models: Focus on the development, refinement, and maintenance of Radar base models, ensuring they comply with client’s actuarial standards and meet project requirements.
- Testing Radar Models: Conduct comprehensive testing of Radar models to ensure accuracy and functionality, while identifying and resolving any issues to meet expected performance standards.
- Best Practices: Build models in accordance with specifications and ensure they are developed using industry best practices for quality and efficiency.
- Documentation: Create detailed and organized documentation to support the development, testing, and deployment processes, ensuring clarity and ease of reference.
- Collaborating with cross-functional teams, including the IT department and business users, to gather requirements and provide support; examples include, developing data dictionaries to assist mapping of input and output variables between rating engine and underwriting system, leading testing of request and response processes/datasets/output files, and helping construct common data structures across LOBs and Business unit
- Document business requirements, functional specifications, process flows, and rating attribute mappings comprehensively. Ensure product updates are accurately reflected in pricing algorithms and seamlessly integrated into systems, managing changes throughout the rating plan lifecycle.
- Strong knowledge of US P&C Commercial insurance products, pricing algorithms, and rating systems
- Familiarity with products and tools such as WTW Radar, Emblem, Duck Creek, Insurity, JIRA, and Confluence is a plus
- Proficiency in at least one programming language and development tools (e.g., SQL, Python, or R)