This Actuary role will provide actuarial pricing services for MRSI’s new and existing Excess and Surplus products. They will support the business in meeting its goals by analyzing, evaluating, modeling and rating potential competitive solutions for our clients.
In this position you will:
Support the launch of new products and expand the capabilities of existing products in property, casualty, professional liability, and specialty lines of business.
Develop and maintain pricing tools for account pricing and portfolio steering.
Prepare and complete pricing analyses, including the development of rates, ultimate loss projections and communication of results.
Participate in development and update of Actuarial models and databases through formula development, research on methodologies, and collaboration on technical teams.
Support for result monitoring, pricing and portfolio management projects that will assist underwriters and management in managing and steering business. Document and communicate assumptions, results, and alternatives to actuarial staff and internal and external clients.
Strong understanding and ability to discuss and apply the use of existing & new actuarial concepts/techniques involving exposure adjustments, trend, loss development, exposure rating, et al with some assistance/guidance.
Identification of data issues requiring specialized actuarial attention.
Complete peer reviews as needed.
Provide actuarial insight and expertise as a participant on a Line of Business Expert Group.
Participate in training of others (underwriters, client managers, risk analysts, accountants and actuaries) regarding actuarial analyses and methodologies.
Successful candidates will possess the following skills/capabilities:
Membership in the Casualty Actuarial Society as an Associate (ACAS) or Fellow (FCAS).
Five (5) or more years of experience in insurance pricing, preferably supporting commercial or specialty insurance products.
Robust understanding of pricing techniques, including ratemaking and predictive modeling.
Strong interpersonal skills. Ability to influence and negotiate with others and create acceptance for proposals.
Experience in R, Python, SAS or other statistical software in insurance pricing applications.
Excellent oral and written communication skills.
Internal Number: 4707BR
About Munich Re
The Insurance Operations
Munich Re US recently launched a new insurance operations described as Munich Re Specialty Insurance (MRSI) that unites the strengths and expertise of Munich Re’s specialty commercial teams in North America under a new management structure. This allows for the development of an overarching sales strategy through which the specialty risk appetite and offering of products that can be profitably optimized and expanded.
As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.
At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued an...d empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.