United Fire Group
65,000.00 - $120,000.00 /Year
The UFG Enterprise Analytics Department is focused on delivering strategically-impactful results by building analytically based solutions that integrate a wide range of internal and external data assets. The ultimate objective of the Enterprise Analytics organization is to help UFG gain and maintain a competitive advantage in how it prices risk and identifies potential loss.
We are seeking a Senior Actuarial Analyst to drive the development of actuarial pricing, data analytic, and state filing projects for UFG’s Commercial Property & Casualty’s segment. This individual will work closely with Underwriters and Data Scientists to develop and implement pricing strategies that drive towards profitable growth of our P&C segment. The ideal candidate will possess strong technical and communication skills. We are looking for an individual who is internally motivated, intellectually curious, has the ability to manage multiple projects, and is driven to enhance existing processes.
The Senior Actuarial Analyst supports the pricing and reserving of new/renewal business and development of effective premium/rating structure and strategies in support of business objectives. Calculates profit margins on new and renewal business. Coordinates, prepares and performs actuarial analysis or analyzes loss and expense reserves. Provides consultation on actuarial models and risk issues. Supports Underwriters on pricing decisions. May oversee the work of less experienced actuaries.
This position must be based in our corporate headquarters in Cedar Rapids, IA. Relocation package is available.
Support the annual profitability review process
Lead junior actuaries in the review of portfolios’ historical financial performance as well as support the identification and quantification of underwriting actions
Communicate information and results to a variety of technical and non-technical audiences across the organization
Make informed actuarial recommendations based on professional judgment and experience; effectively challenge and/or escalate issues within business decisions or processes that are not able to be supported from an actuarial standpoint
Assist with preparation of rate and actuarial memorandums to support rate filing
Respond to objections and regulatory requests
Support experience and rate indication studies to assess rate adequacy
Support improvements efforts in order to increase consistency, efficiency, and compliance with internal standards
Collaborate with Underwriting in large account pricing
Assist with financial projections and reporting
Develop underwriting rating tools and engines
Support junior actuaries and provide mentorship as necessary
Other special projects
BS in Mathematics, Actuarial Science, Statistics or related field. Advanced degree preferred.
5 years of related commercial P&C experience
ACAS or FCAS Designation Preferred
Skills with Excel, Power Point, SQL
Knowledge of SAS, R, and data visualization software a plus
Strong verbal and written communication skills
United Fire Group
Website : https://www.ufginsurance.com
UFG, we’ve built our company on the foundation of trust, because we know that trust matters—to our customers, employees and shareholders—who have all invested in UFG for the future, whether it’s in the form of insurance protection, a career or shares of stock. In a third-party research study conducted by Vernon Research Group, 99 percent of UFG insurance agents surveyed said that an insurer’s trustworthiness is important and the agents rated UFG as a trustworthy insurance company.