What are the responsibilities and job description for the Pricing Actuary position at Loggerhead?
About Loggerhead Risk Management LLC
Loggerhead is a property and casualty insurer that specializes in providing coverage that meets the unique needs of Florida homeowners.
We’re a team of insurance professionals with customer service as our core value and we know the importance of attentively serving our policyholders. Loggerhead is powered by modern technology, guided by people who share a commitment to trust, empathy, always doing what’s right, flexibility, and teamwork.
Job Description
What is the Role?
As part of Loggerhead’s Product and Risk team, the Pricing Actuary will manage its insurance products to ensure they’re priced adequately to meet Loggerhead’s profitability expectations yet still affordable in the Florida market. This role provides the opportunity to apply experience and expertise in insurance ratemaking, policy language refinement, and data analysis to create and refine products that are attractive to Florida consumers in both coverage and pricing. This role will manage every stage of product management from internal analysis, proposals to management and other internal stakeholders, engagement with external stakeholders, including regulators and rating agencies, and systems implementations.
We’re looking for an individual that is self-driven to grow professionally and take personal responsibility for shaping Loggerhead’s current and future success in the Florida insurance marketplace. The selected candidate will be empowered with insight into all areas of the organization to both learn how to build an insurance company from the ground up and leave his or her imprint of on the company’s products. Successful candidates will exhibit strong communication skills, comprehensive knowledge of actuarial principles, and the technical expertise necessary to drive results. Moreover, the ideal candidate should possess the ability to comprehend complex business challenges and devise effective solutions.
Core Responsibilities Include
What You'll Need to be a Top Candidate:
Travel: Minimum, as required.
ADA: The above statements cover what are generally believed to be the principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of job duties.
Job Type: Full-time
Benefits
Loggerhead is a property and casualty insurer that specializes in providing coverage that meets the unique needs of Florida homeowners.
We’re a team of insurance professionals with customer service as our core value and we know the importance of attentively serving our policyholders. Loggerhead is powered by modern technology, guided by people who share a commitment to trust, empathy, always doing what’s right, flexibility, and teamwork.
Job Description
What is the Role?
As part of Loggerhead’s Product and Risk team, the Pricing Actuary will manage its insurance products to ensure they’re priced adequately to meet Loggerhead’s profitability expectations yet still affordable in the Florida market. This role provides the opportunity to apply experience and expertise in insurance ratemaking, policy language refinement, and data analysis to create and refine products that are attractive to Florida consumers in both coverage and pricing. This role will manage every stage of product management from internal analysis, proposals to management and other internal stakeholders, engagement with external stakeholders, including regulators and rating agencies, and systems implementations.
We’re looking for an individual that is self-driven to grow professionally and take personal responsibility for shaping Loggerhead’s current and future success in the Florida insurance marketplace. The selected candidate will be empowered with insight into all areas of the organization to both learn how to build an insurance company from the ground up and leave his or her imprint of on the company’s products. Successful candidates will exhibit strong communication skills, comprehensive knowledge of actuarial principles, and the technical expertise necessary to drive results. Moreover, the ideal candidate should possess the ability to comprehend complex business challenges and devise effective solutions.
Core Responsibilities Include
- Extracting and analyzing data from core systems.
- Analyzing insurance product experience overall and by segment.
- Developing pricing indications for existing and new insurance products.
- Proposing and presenting recommended changes to pricing, coverage and eligibility to management team.
- Submitting and managing insurance product filings to insurance regulators.
- Coordinating and leading implementation of insurance product revisions across multiple departments, including technology, distribution, underwriting, claims, customer service, and finance.
- Tracking impact of implemented changes to determine whether they produced the intended outcome and adjusting as appropriate.
- Working closely with all departments to ensure all facets of insurance operations are considered in developing, proposing, and implementing product changes.
- Contributing to actuarial reserving function and supporting quarterly reserve reviews and annual actuarial report and opinion.
- Assisting with reinsurance needs by analyzing risk-return tradeoff of various reinsurance structure options.
- Assisting enterprise risk management function with quantitative analysis related to various risks to which Loggerhead is exposed.
What You'll Need to be a Top Candidate:
- At least 4 completed CAS actuarial examinations.
- Demonstrated ability in analytical, programming, and mathematical skills.
- In depth knowledge of products and concepts relating to the P&C industry.
- Technical proficiency in data extraction and analysis tools, including MS Excel and MS SQL.
- Commitment to professional accountability for assigned responsibilities and decisions made
- Must perform well under pressure and in a changing environment.
- Excellent interpersonal skills with the ability to establish working relationships with individuals at every level and across all roles within the organization.
- Extensive knowledge and expertise in the interpretation of data to develop strategic/tactical plans for underwriting structures and selections.
- Exceptional project management and organizational skills.
- Excellent verbal and written communication skills.
- Excellent organization and time management skills with the ability to work under pressure and in a remote environment.
- Proficient in Data analysis in Python / R or other language preferred.
- Ability to take complex analytical results and present them in easy-to-follow presentations.
- Minimum 3 years’ experience managing homeowners’ insurance products.
- Previous experience working closely with underwriting and/or product development.
- Deep understanding of the homeowners’ personal lines insurance market.
- Experience in working with financials and marketing preferred.
- Expert knowledge of statutes and regulations governing the quoting, sales, bind, endorsing, servicing, and cancellation of insurance policies in Florida.
- Bachelor's degree or in related field or equivalent experience. (Mathematics or Actuarial science)
- 3 years of actuarial experience.
- Membership as an associate or fellow of the Casualty Actuarial Society preferred.
- This job is remote, with occasional travel to Tampa, FL headquarters*
Travel: Minimum, as required.
ADA: The above statements cover what are generally believed to be the principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of job duties.
Job Type: Full-time
Benefits
- 401(k)
- Dental insurance
- Health insurance
- Vision insurance
- Paid time off
- STD/LTD
- Referral Program
- Tuition Reimbursement
