Actuarial Associate

Job Description

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 rate making 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.

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 rate making

• 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

Qualifications

• Bachelor's degree in Mathematics, Statistics, Actuarial Science or related majors

• Passing of three or more actuarial exams;
Exam 5 is preferred

• 3+ years of P&C actuarial experience; property and/or pricing experience preferred

• Experience in quantitative and qualitative data analysis strongly preferred

• Demonstrated ability to lead initiatives, work independently and as part of a team

• Strong interpersonal, oral, and written communication skills, including presentation skills

• Knowledge of market, industry, customer, and competitor trends

• Familiarity with predictive analytics modeling preferred but not required

• Strong computing skills desired, such as SQL, Python, Access, and Excel

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About Us

For over 50 years, Verisk has been the leading data analytics and technology partner to the global insurance industry by delivering value to our clients through expertise and scale. We empower communities and businesses to make better decisions on risk, faster.

At Verisk, you'll have the chance to use your voice and build a rewarding career that's as unique as you are, with work flexibility and the support, coaching, and training you need to succeed.

For the eighth consecutive year, Verisk is proudly recognized as a Great Place to Work® for outstanding workplace culture in the US, fourth consecutive year in the UK, Spain, and India, and second consecutive year in Poland. We value learning, caring and results and make inclusivity and diversity a top priority. In addition to our Great Place to Work® Certification, we've been recognized by The Wall Street Journal as one of the Best-Managed Companies and by Forbes as a World's Best Employer and Best Employer for Women, testaments to the value we place on workplace culture.

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