Actuarial Analyst

Overview

We are looking for innovative, analytical candidates who can apply quantitative skills to solve real world business problems. As an Actuarial Analyst, you will be introduced to the skills necessary for a successful insurance career at AmTrust North America by working within the Actuarial Pricing Team. The successful candidate will report into Group Actuarial and will be responsible for providing actuarial pricing services to the Commercial Lines Divisions within AmTrust. They will have the opportunity to impact actuarial pricing at AmTrust and develop their technical and quantitative abilities.

These will be full-time hire positions with anticipated start dates in Summer 2024.

Responsibilities

• Profitability and Rate Indication Analyses:
  • Conduct rate indication / profitability study by business segment (State group, Line of Business, Products) for a $1 Billion book of primary commercial lines business (Auto, GL, Property, etc.) to identify pockets of profitable growth opportunities in the local insurance market and the areas requiring remediation.
  • Participate in monthly/quarterly product monitoring to identify issues and opportunities within the various classes and regions and assist in the development of actions plans; Develop and implement recommended product pricing changes based on business performance demonstrated through policy quarter analytic process.
  • Communicate results of pricing analyses to the various audiences including underwriting and senior management; including explanations for profitability drivers, trends in operational diagnostics of the business, profitability risks, variability, etc.; Influence the decision process. Collaborate with underwriting and product line managers to effectively executive business strategies and monitor outcomes on a periodic basis.
• Pricing Models:
  • Review and understand various pricing tools in use by business, refine the pricing tools where appropriate.
  • Ensure pricing parameters are adequate and up-to-date.
• Business Planning:
  • Support the business planning teams in the selection of initial expected loss ratios.
• Pricing Parameters Development & Maintenance:
  • In conjunction with other pricing actuaries develop and maintain a library of pricing parameters including: premium and loss trend factors, loss development factors, increased limits factors (or sol curves), industry expected loss ratios.
• Filing and Compliance:
  • Support the Compliance department with preparation of rate filings and assist in responding to related objections from the individual state insurance departments.
• Business Reporting & Monitoring:
  • Coordinate with other pricing actuaries and IT to develop regular actuarial reports including renewal rate monitoring, new / renewal price monitoring, large loss reports, incurred/paid actual versus expected analyses, etc. to be used in various pricing, reserving and profitability analyses.
  • Support and contribute to the monthly actuarial reporting processes for each class of business.
• Industry Analyses:
  • Analyze industry trends and information and highlight the implications for the business. Support forward business planning, forecast and analysis process, also integrated with reserving and profitability process.

Qualifications

• Bachelor's Degree in Actuarial, Math, Economics, Statistics, or similar field requiring significant quantitative analysis;
• At least 1 actuarial exam passed, 2 preferred.
• Proficiency with Excel, SQL, R, or Python preferred.
• Ability to work in a fast paced, team-oriented environment as well as working independently.
• Excellent communication and interpersonal skills, able to establish credibility with non-actuarial business partners.
• Ability to work with IT to improve the data quality and collection processes as well as executive business strategies through frontend policy admin systems.

The salary range for this role is $60,000 - $75,000. Base pay offered may vary depending on, but not limited to education, experience, skills, geographic location, travel requirements, sales or revenue-based metrics. This range may be modified in the future.

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What We Offer

AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.

AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.

AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.