Actuary - Predictive Pricing & Modeling

Overview

Supports Actuarial Advanced Pricing department in the development, evaluation, and implementation of Selective's decision support (predictive) models. Also supports Selective's Knowledge Management strategic initiative. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements.

Note
: (For NJ candidates) This role will be located at our future headquarters in Short Hills, N.J. Until the new headquarters is operational, the successful candidate will be offered the ability to work in our Branchville, N.J. location during this interim period.

• Collaborate with pricing and reserving teams to prepare raw historical policy data for modeling, including loss adjustments, premium on-leveling, and thorough data validation and reconciliation to other sources.
• Proactively research and explore new model variables. Evaluate strength of model variables through the use of AvE graphs, lift curves and other diagnostics.
• Perform analyses regarding the impact of proposed models on individual SBUs, regions, etc. Compare candidate predictive models and make recommendations about which models are the most appropriate.
• Communicate model findings to others inside and outside the department, ensuring the highest level of buy‑in from business partners.
• Continuously explore and champion new modeling techniques and incorporation of third party data.
• Work with IT and other departments regarding implementation of models, ensuring predictive models are properly implemented and utilized correctly.
• Develop modeling monitors to derive clear, actionable insights and communicate with business partners regarding emerging results to improve business outcomes in other areas.
• Assist manager in checking work of junior analysts as well as providing guidance and support for junior analysts' modeling projects.

• Advanced knowledge of statistics, including regression models, correlation analysis, and measures of fit.
• Commercial lines pricing/rate making experience.
• Knowledge of commercial lines rating plans.
• Ability to explain complex actuarial/statistical issues to others.
• Good organizational skills and attention to detail.
• Proficiency in Microsoft Excel.

• College degree preferred.
• 5 or more years of Actuarial experience.

Selective Insurance offers a total rewards package that includes a competitive base salary, incentive plan eligibility at all levels, and a wide array of benefits designed to help you and your family stay healthy, achieve your financial goals, and balance the demands of your work and personal life. These benefits include comprehensive health care plans, retirement savings plan with company match, discounted Employee Stock Purchase Program, tuition assistance and reimbursement programs, and 20 days of paid time off.

Additional details about our total rewards package can be found by visiting our benefits page.

USD $ - USD $ /Yr.

Selective is an Equal Employment Opportunity employer. That means we respect and value every individual's unique opinions, beliefs, abilities, and perspectives. We are committed to promoting a welcoming culture that celebrates diverse talent, individual identity, different points of view and experiences – and empowers employees to contribute new ideas that support our continued and growing success. Building a highly engaged team is one of our core strategic imperatives, which we believe is enhanced by diversity, equity, and inclusion.

We expect and encourage all employees and all of our business partners to embrace, practice, and monitor the attitudes, values, and goals of acceptance; address biases; and foster diversity of viewpoints and opinions.

For Massachusetts Applicants

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.