Pricing Actuary

  • United Fire Group
  • Cedar Rapids, IA, USA
  • Nov 11, 2019
General Business

Job Description


Pricing Actuary

US-IA-Cedar Rapids

Job ID: 2019-2080
Type: Regular Full-Time
# of Openings: 1
Category: Enterprise Analytics
Cedar Rapids

Overview

UFG offers you an award-winning workplace and a trustworthy, financially stable company. While we’ve always known our commitment to employees and financial stewardship, it is good to have others recognize our dedicated efforts. We've been named an Iowa Top Workplace by the Des Moines Register for four consecutive years, and included on Forbes’ “America’s Most Trustworthy Financial Companies” every year since 2014. Additionally, UFG is a super-regional property and casualty insurer rated “A” (Excellent) by A.M. Best Company.

Under limited supervisor the Pricing Actuary is responsible for driving the development of actuarial pricing, data analytics, and state filing projects for UFG’s Commercial Property & Casualty’s segment. This individual will work closely with underwriters and data scientists to develop and implement pricing strategies that drive towards profitable growth of our P&C segment.



Responsibilities

  • Support the annual profitability review process
  • Lead junior actuaries in the review of portfolios’ historical financial performance as well as support the identification and quantification of underwriting actions
  • Communicate information and results to a variety of technical and non-technical audiences across the organization
  • Make informed actuarial recommendations based on professional judgment and experience; effectively challenge and/or escalate issues within business decisions or processes that are not able to be supported from an actuarial standpoint
  • Assist with preparation of rate and actuarial memorandums to support rate filing
  • Respond to objections and regulatory requests
  • Support experience and rate indication studies to assess rate adequacy
  • Support improvements efforts in order to increase consistency, efficiency, and compliance with internal standards
  • Collaborate with Underwriting in large account pricing
  • Assist with financial projections and reporting
  • Develop underwriting rating tools and engines
  • Support junior actuaries and provide mentorship as necessary
  • Other special projects


Qualifications

Education:

  • Bachelor’s degree in mathematics, actuarial sciences, statistics or a related field
  • Master’s degree preferred
  • ACAS or FCAS designation preferred

Experience:

  • Five plus years of related commercial property and casualty work experience

Knowledge, skills & abilities:

  • Strong mathematical and analytical skills
  • Advanced skills in Microsoft Excel and PowerPoint
  • Proficiency with SQL
  • Knowledge of SAS, R, and data visualization software a plus
  • Strong interpersonal, communication and presentation skills.
  • Ability to effectively interact with all levels of UFG’s internal and external business partners.
  • Strong analytical, critical thinking and problem-solving skills, with the ability to effectively resolve complex situations and issues
  • Ability to exercise independent judgment and make critical business decisions effectively within scope of authority
  • Solid interpersonal skills and the ability to work in a team environment as well as independently.
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