Assistant Vice President - Actuarial Claim Analysis & Insights

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The Assistant Vice President- Actuarial Claim Analysis & Insights is a newly created role within the Corporate Actuarial and Loss Analytics Department that will be accountable for gathering and analyzing objective claims data and subjective-non-data inputs to derive actionable and meaningful insights for the use of Actuarial and Claims Executives.  The successful candidate will actively participate in Claims and Actuarial strategy development while influencing change across the organization.

This is a leadership role within the Actuarial function of Arch Insurance North America supporting both the Actuarial and Claim organizations. This leader will begin as an individual contributor who could have an opportunity to build an effective team as the function expands and provides valuable and actionable insights.

The role supports development of the Claims Analysis function across the Actuarial and Claims organizations, by creating a robust framework for the feedback loop between Claims, Actuarial, Underwriting, IT, and Finance, while building out data/analytical capabilities, and leveraging technologies and transforming processes in coordination with the Arch Insurance North America Actuarial and Claims teams.  This leader will be instrumental in evaluating and understanding how claim practices and trends impact claim outcomes as well as Actuarial projections.

Responsibilities and Accountabilities

• Provide executive‐level support directly to the Actuarial and Claims executives.
• Become an expert in both Claims and Actuarial data.
• Partner with vital members of Claims and Actuarial to identify and understand the key drivers of financial and actuarial data to ensure alignment and influence change within the organization.
• Act as the intermediary between claims and pricing / reserving actuaries to enhance communication and increase collective efforts.
• Communicate complex actuarial concepts clearly to non-actuarial stakeholders in a way that is understandable and actionable.

Required Skills and Abilities:

• Provide an advanced level of expertise in the claim loss analytics space through a strong understanding of claim handling practices and the ability to derive insight critical to positively influencing work in pricing, reserving, claims outcomes, and underwriting decision making.

• Understand and measure existing and proposed changes to the claims handling processes and provide valuable insights regarding the impact on loss trends, case adequacy, financial results, and parameter studies. Examples include reserving, extensive loss management and claim coding practices, etc.
• Apply innovative approaches and leading‐edge tools to analyze the business. Seek opportunities to leverage advanced analytics to provide greater insights. Ensure the quality of the data and its consistent application in the reserving process.
• Assume an active leadership role within Arch’s actuarial community and keep abreast of new methodologies, trends and product/ tort reforms and other external issues.

Desired Skills and Abilities

• 10+ years of experience in data transformation, business intelligence and analytics with progressive hands‐on roles
• Claims experience preferred.
• Experience building out an analytics capability and accountability framework across data & analytics.
• Strong understanding of claims case reserving practices, general claims policies and procedures, as well as how these impact actuarial diagnostics and projections.
• Experience working closely with the Claims organization to develop an advanced understanding and providing insights around how Claims practices can impact reserve adequacy, development patterns as well as production metrics.
• Proven ability to dissect complex business issues, perform research and analysis, and synthesize conclusions into a value‐maximizing strategy.
• Excellent verbal and written communication skills. Able to communicate complex technical concepts to a wide range of audiences including executive leadership and the board.  Knows how and when to keep others informed.

Education and Experience 

• Advanced knowledge of analytic tools (Python, R, SQL), data visualization (Tableau, Qlik, Power BI), as well as data manipulation (SQL, Python, Snowflake, etc).
• Sufficient software skills in Excel, Word, and PowerPoint
• A university degree in a quantitative discipline.
• Fellow of the Casualty Actuarial Society preferred.

#LI-Hybrid

For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.

$129,500 - $201,066/Annual - NYC/JC
$116,600 - $180,959/Annual - Chicago/Hartford
$100,400 - $155,826/Annual - St. Paul

• Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.

• Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more. Click here to learn more on available benefits.

Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team.

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