What are the responsibilities and job description for the SENIOR ACTUARY ANALYST position at The Carlisle Group (TCG)?
Job Description
Fully Remote Position
Our client is a well respected Property & Casualty Insurance organization and they have Retained The Carlisle Group to conduct a search for a Senior Actuarial Analyst.
Senior Actuarial Analyst
Job Description
Fully Remote Position
Our client is a well respected Property & Casualty Insurance organization and they have Retained The Carlisle Group to conduct a search for a Senior Actuarial Analyst.
Senior Actuarial Analyst
Job Description
- Loss Cost / Rule Development
- Create loss costs, rates and rules for insurance products for multiple P&C lines of business for the company and individual member companies
- Prepare filing exhibits and memorandums as needed for filings with the various insurance department
- Meet changing market needs as well as regulatory and legislative requirement
- Statistical Data Analysis
- Data extraction, manipulation and analysis
- Preparation of reports
- Review of Statistical Plan and preparation of improvement recommendations
- 5 years minimum of P&C Insurance experience including understanding of standard actuarial techniques and the state filing and approval process
- Insurance designation course work preferable but are not required.
- College degree required (quantitative major such as Math, Actuarial Science, Accounting or related field).
- Ability to work independently
- Judgment in evaluating data
- Ability to research and develop insurance pricing, products and enhancement recommendations
- Proficient in business software, i.e., Microsoft Office, especially Excel and Word
- Ability to perform arithmetical operations and verify mathematical calculations
- Capable of adapting existing guidelines to varied situations
- Ability to determine and reshuffle priority of work as necessary to multi task and operate in a deadline sensitive environment
- Strong organizational skills and attention to detail
- Ability to read, write and speak the English language and compose correspondence highly professional and tactful manner
- Visual acuity sufficient to accurately review and proof information
- Auditory ability to use a telephone.
- Willing and able to travel as required to out-of-town locations and use public transportation (automobiles, buses, airplanes, etc.)
- Willing and able to work required overtime when necessary to meet operating and business requirements.
- Review, decipher, and analyze key insurance company rate/rule filings.
- Summarize and report filings on key material elements of rate/rule filings including:
- Rating algorithms
- Rating elements
- Key relativities/factors including (but not limited to):
- Deductibles
- Construction/protection classes and factors
- Base limits and limits offered
- Amount of insurance relativities
- Class plans and factors
- Coverage options
- Rating tiers
- Construct valid comparisons of base loss costs for all reviewed companies in a single
- state/market:
- Same limit
- Same coverage
- Same deductible
- Same key rating parameters
- Consistent conversion of rates to loss costs
- Document research and analysis results with filing quality exhibits as needed.
- Advise on the development of new/revised rating algorithms and key rating elements.
- Advise and suggest on the development of new/revised manual rules.
- Draft Actuarial Filing Memorandums for market analysis rate development efforts.
- Assist (as needed) Product Analysts with responses to Insurance Department questions.
- Represent at various industry meetings and conference
- Recommend value added services and programs to current member companies and prospect
- Review each project and set a realistic deadline.
- Keep abreast of current P&C topics through research, webinars, publications, etc.
- Communicate with our member companies as needed to discuss filings, loss costs, rules, actuarial documentation, and state objections and answer company questions
- Communicate with various state departments of insurance and outside professional consultants exclusively for business
- Contact with Board as requested by management.