Actuarial Assistant - Junior

Arch Insurance Group is seeking a motivated aspiring actuary to join our team. Our group supports P&C Programs, MidCorp Programs and Entertainment. The business units provide highly specialized and tailored insurance products in Commercial Auto, General Liability, Property, Workers Compensation and Excess Umbrella.

The role includes portfolio profitability reviews, large account pricing, actuarial parameter studies, building actuarial/underwriting tools as well as monitoring and reporting on strategy executions, emerging trends and leading indicators. This position will require strong database and programming skills, curiosity, quick learning, problem solving, as well as strategic business thinking.

This position is an excellent opportunity for a new actuarial candidate looking for intellectual and professional challenges, learning actuarial skills and understanding various products in P&C insurance.

The position provides a competitive compensation package, good benefits, and a superb study program in a supportive, collaborative, and innovative culture that highly values actuarial insight. Many of our C-suite, senior management and business unit leaders are credentialed actuaries.

The primary role will be to provide actuarial support to the P&C Programs Insurance Business Unit. This division highly values actuarial support, in both quantitative & qualitative capacities. The actuarial assistant will have the opportunity to lead as a liaison representing the actuarial team with business partners.

Job Functions

Profitability Reviews/New Submission Analyses

• Review products by applying actuarial concepts and techniques to determine portfolio profitability; analyzing and digging into detailed segmentations

Monitor and Reporting

• Monitor portfolio rate change, pricing adequacy and underwriting mix change on new and renewal business to help Program Managers make informed decisions

Actuarial Studies 

• Analyses and research to improve pricing parameters and segmentation to better identify profitable opportunities

Tool Building 

• Designing, programming, maintaining, and supporting tools used in pricing, and book monitoring

New Product Support/Rate Plan Improvement

• Collaborate with Underwriters to create and revise rating plans; develop state specific support for insurance departments

Required Skills/Experience

• Software skills: Proficient in SQL, Excel/Word/ PowerPoint and experience w. Python preferred.

• Communication: both oral and written communication including presentations and marketing

• Leadership: Able to lead discussion with cross-functional team.

• Collaboration: Able to effectively collaborate with cross-functional business partners

• Efficiency: Strong productivity and organizational skills. Ability to deliver high quality work product in an efficient manner.

• Project Management: Strong project management

• Analytical and quantitative skills: theoretical and analytical problem-solver with creativity

• Demonstrated interest in actuarial science and insurance; no experience required.

• Interest in and ability to complete the actuarial exams and achieve professional property & casualty actuarial credentials.

Education

• Bachelor’s degree with a concentration in a quantitative discipline such as actuarial science, statistics, computer science, mathematics, economics, or operations research