This role will be a key part of our recently created Insurance Analytics team. This position will assist in setting rates for our various insurance products. On a typical day, this may include extracting and analyzing premium and loss data, using computer and statistical programs, evaluating results for reasonability and communicating observations to various teams to help achieve bottom-line goals. Actuaries at Mutual Benefit Group do more than crunch numbers – they tackle a variety of problems such as developing and enhancing products, designing reports to improve decision-making, forecasting and assessing industry trends, and presenting findings and recommendations to senior management.
Core Job Duties & Responsibilities:
Participate in strategic discussions across all product lines of business – Automobile (Personal & Commercial), Homeowners, Dwelling Fire, Business Owners(BOP), Artisan Contractors, Workers Compensation, and Umbrella
Develop skills and knowledge necessary to perform essential actuarial pricing functions through formal training and self-initiated learning opportunities
Support the rate review process by preparing rate indications, analyzing specific components of rating, developing pricing proposals, and calculating impacts on our book of business.
Evaluate success and drive continuous improvement in product enhancements
Solve complex business problems by leveraging the latest analytical and actuarial techniques
Create new reports and tools for improved data consumption throughout the organization.
About the Team:
The Insurance Analytics team was formed in 2016 with the foundational goal of creating a data-driven decision making process that will lead to more competitive offerings and improved product performance. The team is responsible for the product management, actuarial pricing and compliance functions for the organization.
Minimum Job Requirements:
Education: Applicants must possess a Bachelor’s or higher degree in Mathematics, Computer Science, Actuarial Science, Statistics, Economics, or related analytics-oriented discipline. At least 1 Actuarial exams completed (P preferred) and dedication to reaching the Fellowship level.
Experience: No prior work experience required.
Strong programming skills, including Microsoft Excel, SQL, and C++ or related.
Proven mathematical, analytical, and quantitative skills.
Demonstrated ability to solve problems systematically and creatively.
Self-motivated with a “get it done” attitude
Committed to personal development and able to quickly grasp new concepts and technologies
Constant attention to detail
Effective time management skill. Capability to balance multiple projects with competing deadlines.
Ability to work both independently and as part of team
Excellent judgment and decision-making ability
Takes initiative on projects and assignments.
Excellent listening and communication skills (both verbal and written)
About Mutual Benefit Group
Mutual Benefit Group is a regional property/casualty company serving Pennsylvania and Maryland. The Company has a financial strength rating of A- (Excellent) from the A.M. Best Company; posted consolidated assets of $232.2 million in 2016; and offers a full line of personal and commercial insurance coverage, including homeowners, automobile, commercial package plans, business owners, contractors, workers’ compensation, inland marine, and umbrella through its member underwriting companies, Mutual Benefit Insurance Company and Select Risk Insurance Company. Mutual Benefit Group is represented by 250 independent agencies, serves 75,000 policyholders, employs 155 people and was founded in 1908. The Company serves a mix of business that is approximately 60% personal insurance and 40% business insurance.