Careers

The National Association of Insurance Commissioners (NAIC) has an exciting opportunity for a Property/Casualty Rate Modeling Actuary & Data Scientist. We are looking for a team member who would enjoy working for an organization that strives every day to support the public good and make a difference.  This is a full-time, remote position.  

 Responsibilities include: 

Rate Filing Classification Plan Analysis: 

• Supports state insurance regulators (as requested) in the technical analysis of an insurance company’s justification for its proposed classification plan(s) in a rate filing. 
• Documents technical reviews of classification plan model(s) included in an insurance company’s rate filing.   
• Actively participates in team peer reviews of work products. 
• Expands modeling knowledge of modeling techniques. 
• Recommends improvements to the review process, as needed.  

Communication with and amongst State Rate Regulatory Actuaries: 

• Provides back-up to 1) maintain the regulators’ P/C Shared Model Database and 2) coordinate and assign projects via Microsoft Planner. 
• Identifies technical or documentation issues in the rate filings and brings those to the attention of the rate model review team and staff support for the Casualty Actuarial and Statistical (C) Task Force. 

Regulatory Training and Presentations 

• Develops and conducts training for state insurance regulatory staff analyzing models in rate filing reviews and market conduct exams. 
• Assists the staff support for the Casualty Actuarial and Statistical (C) Task Force and team lead on the rate model review team to identify Predictive Analytics Book Club training opportunities. 

Application of Actuarial Principles 

• Applies sound actuarial principles; maintains actuarial qualifications; and adheres to the codes and standards as promulgated by the American Academy of Actuaries. 

Skills and Abilities:  

• Strong technical expertise in property/casualty rate classification and modeling is required. 

• Knowledge of a variety of machine learning and other techniques (clustering, decision tree learning, artificial neural networks, GLMs, GAMs, etc.) and their real-world advantages/drawbacks and applications to insurance. 
• Knowledge of advanced statistical techniques and concepts, properties of mathematical distributions, statistical tests and proper usage, and model validation techniques.  
• Ability to explain complex actuarial concepts in terms understandable to non-actuaries and non-statisticians. 
• Ability to effectively present information to top management, public groups, regulators and/or boards of directors.  
• Five years of experience as a Qualified Actuary is preferred. 

• Strong written and verbal communication skills. 
• Proficiency with Microsoft Word, Excel, and PowerPoint. Proficiency with SAS or R is preferred.  
• Detailed understanding of how property/casualty insurance is priced and what regulatory standards through law, regulation, or bulletin apply. 

Minimum Education and/or experience required: 

Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Data Science, Finance or similar degree from an accredited college or university; significant experience with property/casualty insurance rate data and model creation and analysis; and five years previous actuarial and/or data scientist experience in pricing/ratemaking, or equivalent combination of education and experience required. Fellowship in the Casualty Actuarial Society or Society of Actuaries (in the general insurance track) is required.  

Preferred Experience: 

Fellow of the Casualty Actuarial Society (FCAS), Fellow of the Society of Actuaries (FSA) through the general insurance track, statistician, data scientist, or Certified Specialist in Predictive Analytics (CSPA) preferred. 

Insurance regulatory experience of an actuarial nature is preferred.   

About National Association of Insurance Commissioners (NAIC)

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. With a Central Office in the heart of downtown Kansas City the National Association of Insurance Commissioners (NAIC) places a premium on creativity and innovation. The NAIC supports insurance regulators in every state, who work to educate, protect and assist insurance consumers with issues ranging from disasters to day-to-day questions. Our employees get the chance to support and develop the latest technological programs in an energized environment. Insurance may be complicated, but our employee culture is pretty simple. “Wo...rk hard, play hard” exemplifies our commitment to a work-life balance. We keep it casual with allowing jeans to be worn every day. We believe in rewarding staff with bright, shiny objects as well as treats, games and prizes to show our appreciation for their hard work. And you can say goodbye to a five day work week with our flex schedules. At the NAIC, location really is everything - from our centrality in the metro area to the conveniences of our vibrant downtown building, with great restaurants and shopping right outside our doors. We pride ourselves on our long-term investment in our employees and support them in all phases of their life, from continuing education and tuition reimbursement opportunities to our infants in the workplace program. We also make charity a company-wide offering through our Volunteer Resource Team (VRT). The VRT sponsors fundraisers, charitable events and community service opportunities throughout the year and has raised thousands of dollars for local and national charities.

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