Actuarial Associate

Verisk Analytics • Jersey City, NJ

11h • Remote

About The Position

We are looking for an Actuarial Associate to join the Commercial Property Actuarial Product team. The Commercial Property Product team is responsible for Commercial Property, Commercial Inland Marine, Equipment Breakdown, and a few minor property lines. The team is responsible for analyzing and creating pricing for new and emerging insurance risks; performing deep dives into pricing methodologies with the goals to enhance and innovate pricing of existing products and coverages; leading efforts in secure filing of pricing changes; providing supports for filings of coverage changes; and maintaining customer focus in all their work. The successful candidate will enjoy identifying and solving complex actuarial problems, be comfortable working with team members on high-profile projects and own part of the processes, and have the ability to explain work in non-technical contexts to internal and external customers. The product development role will focus on independent and supporting actuarial analyses of both current rating factors and loss costs as well as creation of new rating factors and loss costs to support updates to Commercial Property and other lines. A solid understanding of basic ratemaking and proficiency in data analysis are strongly preferred. This person will be expected to independently analyze, make recommendations, document the work product, and support their selections, assumptions and conclusions. They will also be expected to support the product through the filing process. This role will require frequent communication with many of the functional areas of the ISO Underwriting organization.

Requirements

• Bachelor’s degree in Mathematics, Statistics, Actuarial Science or related majors
• Strong programming skills required, such as SQL, Python, or R
• Passing of three or more actuarial exams; Exam 5 or ratemaking experience is strongly preferred
• 2+ years of P&C actuarial experience in ratemaking preferred, will also consider non ratemaking with more experience
• Strong interpersonal, oral, and written communication skills, including presentation skills
• Knowledge of market, industry, customer, and competitor trends

Nice To Haves

• Familiarity with predictive analytics modeling preferred but not required

Responsibilities

• Work on projects independently or in collaboration with other functional areas that target on developing enhancements and innovations to actuarial products and procedures for Commercial Property ratemaking
• Collaborate closely with other ISO divisions on new products that may be actuarial or underwriting focused
• Maintain a high level of customer engagement through product presentations and responses to customer inquiries
• Provide actuarial analyses in supporting, maintaining and enhancing existing Commercial Property actuarial products
• Analyze market, industry, competitor, legal, and regulatory trends and use these to provide actionable insights that drive the business of both the company and its customers
• Interact with regulatory authorities to support new/enhanced products

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees