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SR. Actuarial Financial Analyst

Insight Global

This is a Contract position in Dearborn, MI posted March 18, 2023.

Insight Global is looking to hire a Sr. Actuarial Analyst for a large Insurance company. They will develop pricing for current or new property/casualty insurance coverage and products. Coordinates and executes scheduled rate reviews and indications to ensure rates are adequate, not excessive, or unfairly discriminatory, and internally consistent with experience. Provides senior level analysis and preparation of competitive product and rate comparison reports. Formulates and interprets mathematical ratemaking models using available tools. Analyzes data, develops material, and prepares appropriate communications. Performs classification analysis for existing and future products. Supports state filings and respond to inquiries from DOIs. Presents project data, results and recommendations to management and senior leaders.

Provides recommendations for improving methods, analysis and data gathering techniques used by the actuarial team. Works with Actuarial Support in gathering and verifying data for rate indications, rate revisions and special projects. Manipulates data for actuarial review using standard software packages. Determines relevant factors and research suitable trend indications for analysis, providing material and oral support to recommendations made to management. Performs actuarial adjustments to meet the analysis purpose. Analyzes competitor’s rate structures and coverage. Develops and prepares competitor rate manual analysis. Prepares reports, proposals, system documents and documentation as required. Provides support/oversight to projects as required.

* Master’s Degree

* Commercial lines
* Bachelor’s Degree in Actuarial Science, Mathematics, Finance, Statistics or related.

* Completad 4 actuarial exams.

* 3+ years of experience as an Actuarial Analyst in pricing

* Property and Casualty (P&C) insurance products

* Knowledge of insurance industry terminology and concepts, specifically related to personal lines P&C.

* Preparing quarterly rate indications

* Formulating and interpreting mathematical rate making models

* Preparing property and casualty rate filings

* Preparing competitive product and rate comparison analysis reports

* Calculating reserves

* Pricing property and casualty insurance products

* Completing actuarial research relating to insurance operations

* Development and implementation of the new rating plans or enhancements to the existing rating plans

* Use of statistical tools and software applications to complete assignments.

* Preparing reports and exhibits for management review.

* Analysis of technical studies and data and draw sound conclusions.