Actuarial Analyst Job at Heritage Insurance
PRIMARY FUNCTION:
The primary function of the Actuarial Analyst is to assist the Pricing and Product Management team in the evaluation of rate adequacy, actions and filings.
DUTIES AND RESPONSIBILITIES:
- Assist in the evaluation of rate adequacy, actions and filings.
- Developing statewide rate indications using standard ratemaking techniques, including knowing how to incorporate the model output within the indication process. Using predictive modeling to determine rating structures and rate relativities.
- Performing marketing analysis to include premium comparisons, close ratios analysis, and retention studies.
- Recommending rate actions balancing renewal impacts, profitability goals, market considerations, and systems limitations.
- Presenting results and recommendations to senior management.
- Preparing rate filings and working with state departments of insurance.
- Using SQL, Access, etc. to access internal data sources to develop data for analysis.
EXPERIENCE:
Describe specific requirements:
- Passed 1+ actuarial exams with pricing experience in homeowners insurance.
- Intermediate level of experience with MS Excel and MS Access Database applications and can build spreadsheets and create databases from raw data extracts.
- Proficiency with SQL and/or R is preferred.
- Prior experience and solid knowledge of actuarial techniques and standards, as well as other business operations including financial, underwriting, legal, statistics, claims, sales, etc.
- After sufficient training to understand the requirements, should have the ability to perform a list of specific instructions with a limited amount of supervision.
- Proven organizational and timekeeping skills as well as a strong sense of attention to detail are essential.
- Ability to work in a small team environment
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