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Full-Time

Actuary

Posted on 9/27/2024

Lemonade

Lemonade

1,001-5,000 employees

Digital insurance with social impact initiatives

Financial Services
Social Impact
Fintech

Compensation Overview

$135k - $155kAnnually

+ Equity + Benefits

Senior, Expert

Remote in USA

Category
Insurance
Finance & Banking
Required Skills
Python
Data Science
R
SQL
Data Analysis
Requirements
  • 5+ years of P&C actuarial experience; Attained ACAS or greater
  • Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field
  • Proficiency in data science programming languages such as R or Python (preferred), and database query tools such as SQL
  • Familiarity with predictive modeling concepts, including supervised and unsupervised machine learning approaches such as GLMs, decision trees, gradient boosting machines, random forests, and clustering.
  • Ability to work in a remotely
Responsibilities
  • Be an owner and expert on our car insurance state rating plans and rate indications
  • Lead the development and integration of predictive modeling projects while working closely with the Data Science team
  • Craft rate filing support for new machine learning models
  • Recommend pricing and underwriting actions based on ongoing monitoring of results
  • Build a knowledge base of competitor rating strategies and the overall competitive landscape
  • Develop the rates and pricing strategy for product expansions in new states
  • Assist in the design and development of internal pricing software for advanced analytics to support real-time decision making and scalable growth
  • Further your own actuarial education through CAS exams and industry research while applying those learnings on the job
  • Actively coach and mentor analysts

Lemonade offers a digital insurance platform that allows users to quickly sign up for coverage for various needs, including personal belongings, homes, pets, families, and cars, all through a single app. The platform operates by collecting premiums from users, and any unused premiums are donated to a charity chosen by the user through a feature called Giveback. This unique approach has enabled Lemonade to contribute over $4 million to non-profit organizations globally. Unlike traditional insurance companies, Lemonade emphasizes social impact and community support, aiming to create a more positive experience for its customers while also benefiting charitable causes.

Company Stage

IPO

Total Funding

$618.5M

Headquarters

New York City, New York

Founded

2015

Growth & Insights
Headcount

6 month growth

0%

1 year growth

0%

2 year growth

1%
Simplify Jobs

Simplify's Take

What believers are saying

  • Lemonade's expansion into the UK market indicates strong growth potential and international reach.
  • The company's Giveback program has donated over $10 million since its inception, showcasing its commitment to social impact.
  • Partnerships with brands like M&M's Ice Cream and Homesite highlight Lemonade's innovative approach to marketing and collaboration.

What critics are saying

  • Despite revenue growth, Lemonade reported a $47 million net loss, raising concerns about its financial sustainability.
  • The crowded insurtech market means Lemonade must continuously innovate to maintain its competitive edge.

What makes Lemonade unique

  • Lemonade's unique Giveback program, which donates unused premiums to charities, sets it apart from traditional insurance companies.
  • The company's all-in-one app for various insurance needs, from home to pet insurance, offers unparalleled convenience.
  • Lemonade's heavy reliance on AI for efficiency and customer service distinguishes it from competitors who are slower to adopt technology.