Note: At this time we are not accepting unsolicited CVs from management recruiters.
FBAlliance Insurance Company has an opening for P&C Actuarial Leader to work in our office in Schaumburg, IL; for exceptional candidates, we will consider remote work locations. In this position, you will join our Analytics & Product Management Team to help develop new product pricing, formulate changes to current product pricing, and other data analysis as needed.
FBAlliance is a new P&C insurance company, back with $71.5 million in funding from nine Farm Bureau insurance companies. Our vision is to be a multi-state, multi-line, financially strong insurance company that provides innovative products and services based on sophisticated underwriting and pricing.
Oversee and manage all actuarial projects, actively contribute to developing and tracking product roadmaps, and mentor junior employees.
Prepare new personal/specialty lines property and auto rates for entry into states, complete rate level indications, class plan analyses, competitor research, benchmarking analyses, rate/rule filing support, reserve analyses review, book rollovers, reinsurance analyses and other projects for all property and casualty lines of business.
Utilize internal/external experts to perform predictive modelling using GLM and non-linear methods, and tools such as Emblem, R or similar programming languages that support rate analyses.
Compile and validate data, perform statistical analysis, summarize the results and present to stakeholders.
Work with product management, underwriting and other functions to prepare product/rate filings and obtain regulatory approvals.
Interact and liaise with regulatory entities such as State Departments of Insurance.
Create and update rating tools and ensure accuracy of rating engines in core insurance systems.
Keep up to date on competitor developments and revise/refine product pricing as necessary.
Engage with outside actuarial firms, cat modeling services, and support reinsurance placements.
Key Skills and Qualifications
Superior communication skills, friendly demeanor, and an exceptional ability to work collaboratively with individuals across all business functions.
Strong research, statistical, analytical, processing and mathematical skills with ability to structure and conduct analysis.
Good people management skills to run a small team and leverage external resources to complete projects on time and to expected quality
Ability to manage and deliver multiple projects concurrently
Adept at bringing creative insurance product ideas to solve new problems and emerging risks
Experience developing new rating methodologies and initial rate plans when entering a state for the first time
Predictive modeling skills using GLM and non-linear methods.
Advanced skills in SQL and Excel with knowledge of spreadsheets functionality including VBA, vlookup, pivot tables, and macros.
ACAS/FCAS or near-ACAS with 5+ years of personal lines pricing experience.
Experience with statistical analysis tools, such as R, Python, or SAS will be a huge plus.
General understanding of insurance company operations.
Telecommuting is allowed.
Internal Number: 123
About FBAlliance Insurance Company
FBAlliance is a new P&C insurance company, backed with $71.5 million in funding from nine Farm Bureau insurance companies. Our vision is to be a multi-state, multi-line, financially strong insurance company that provides innovative products and services based on sophisticated underwriting and pricing.
We are doing this by building a responsive, customer-focused, digital organization. Our personal lines property products are in five states and expanding. We are developing a digital platform that will spur the creation of new and emerging products for rapid entry into new markets. We leverage several third-party relationships and InsureTech companies to surround our small team with a very big source of insurance and technology expertise. We use sophisticated predictive and catastrophe models to develop product pricing and utilize insightful data to underwrite risks. We are 100% cloud, so you don’t have to wait endlessly to get the computing resources you need to get your job done.
We seek creative and experienced individuals to apply their insurance expertise, but also work collaboratively across the organization to develop great products and services for our customers. Y...our ability to deliver will depend on how well you can tap into the knowledge of experienced individuals within the organization, learn from innovation taking place in the insurance industry, and mix that with your own expertise and creativity. If you are an individual with a belief that there is much room for creativity in the insurance industry, we would like to hear from you.