Full-Time

Actuary

Posted on 9/27/2024

Lemonade

Lemonade

1,001-5,000 employees

Digital insurance with social impact initiatives

Fintech
Social Impact
Financial Services

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 transform the insurance experience by making it more accessible and socially responsible.

Company Stage

IPO

Total Funding

$480.4M

Headquarters

New York City, New York

Founded

2015

Growth & Insights
Headcount

6 month growth

3%

1 year growth

3%

2 year growth

4%
Simplify Jobs

Simplify's Take

What believers are saying

  • Partnership with Toyota Insurance could boost market penetration and customer acquisition.
  • Expansion into the UK market opens new revenue streams and international presence.
  • AI handles 30% of interactions, reducing costs and improving service efficiency.

What critics are saying

  • Increased competition from traditional insurers adopting AI could erode market share.
  • Rapid international expansion may lead to regulatory compliance challenges.
  • High loss ratio indicates ongoing challenges in underwriting and risk assessment.

What makes Lemonade unique

  • Lemonade uses AI and behavioral economics to streamline insurance processes.
  • The Giveback program donates unused premiums to charities, enhancing social responsibility.
  • Lemonade offers instant sign-up and coverage through a single app for multiple insurances.

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