Line of Business Pricing Actuary

WE OFFER

American Modern is a widely recognized, national leader in the specialty insurance business. With more than 50 years of experience in the manufactured housing insurance sector, the company delivers specialized products and services for residential property and the recreational market. One of our newest lines is Pet Health insurance. The company is headquartered in suburban Cincinnati, Ohio.

The company is licensed in all 50 states and offers insurance products through a number of property and casualty companies, which serve more than 2 million policyholders. As part of its parent company, American Modern’s companies are rated A+ (Superior) by the A.M. Best Company, an independent analyst of the insurance industry and is also a Ward’s Top 50 Performer another well-regarded industry standard of stability and excellence. For 9 straight years the Cincinnati Enquirer named American Modern as a Top Workplace. The award is based on employee surveys measuring employee recognition, career opportunities, work environment, pay and benefits, management effectiveness, and leadership trustworthiness.

American Modern Insurance Group joined Munich Re as a key part of the world reinsurance leader’s North American insurance operations in April 2008. Munich Re has approximately 47,000 employees in over 50 locations throughout the world and operates in all lines of insurance. It is among the top 100 companies on Forbes’s Global 2000 list.

Pricing Line of Business Experts are in a unique position to drive results for the company for their assigned lines of business. They work closely with their Product Management partners to ensure the products are positioned to deliver profitable growth. They are responsible for owning and managing the actuarial pricing activities for their assigned lines of business.

Responsibilities:

• Build a strong collaborative relationship with their Product Management counterparts ensuring alignment of key priorities as well as development of product strategies to drive profitable growth for their line.
• Maintain high level of expertise and knowledge about their products and drivers of results.
• Maintain current knowledge of market trends and products in the market. Keep abreast of emerging risks related to their product lines and develop strategies to address them.
• Provide actuarial opinions of rate adequacy for their assigned lines of business in all states.
• Collaborate with Product Management on the selection of appropriate pricing levels.
• Ensure proper filing support for rate changes including providing official actuarial opinions to regulators.
• Lead special projects such as the development of new pricing methodologies or the creation of monitoring reports for American Modern.
• Support the development and pricing of new products and/or coverages.
• Complete Annual Loss Ratio Planning for incorporation into the corporate financial plan.
• Mentor more junior actuarial analysts by providing actuarial training as well as prioritizing and directing their work.

In addition, Actuaries further develop their business acumen by working and interacting with associates from Reserving, Claims, Underwriting, Finance, IT, Portfolio Management and other areas of the company.

WE EXPECT

Required:

• FCAS
• 10+ Years of experience in an actuarial capacity in Property Casualty Insurance
• 5+ Years of experience in multiple actuarial disciplines (i.e. pricing, reserving, predictive modeling…)
• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or similar background requiring quantitative analysis.
• Strong analytical abilities including understanding of advanced mathematics and statistical concepts.
• New Product development experience.
• Demonstrated ability to think logically and perform analysis in a timely manner.
• Demonstrated superior level of written and oral communication skills.
• Demonstrated ability to interact effectively with areas of the company outside Actuarial
• Strong command of Excel as well as some knowledge of programming and databases such as SQL, Visual Basic
• Experience building and working with Predictive Models for Property Casualty rate making including familiarity with R, Emblem and or SAS.

Preferred:

• Membership in the American Academy of Actuaries (MAAA)
• Project management experience
• Experience working with Catastrophe models

At American Modern, a subsidiary of Munich Re, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

American Modern is a widely recognized, national leader in the specialty insurance business. With close to 50 years of experience in the manufactured housing insurance sector, the company delivers specialized products and services for residential property and the recreational market. One of our newest lines is pet health insurance. The company is headquartered in suburban Cincinnati, Ohio.

American Modern is licensed in all 50 states and offers insurance products through a number of property and casualty companies which serve more than 1.7 million policyholders. As part of its parent company, American Modern’s companies are rated A+ (Superior) by the A.M. Best Company an independent analyst of the insurance industry, and is also a Ward’s 50® Top Performer another well-regarded industry standard of stability and excellence.

American Modern joined Munich Re as a key part of the world reinsurance leader’s North American insurance operations in April 2008. Munich Re has approximately 47,000 employees in over 50 locations throughout the world and operates in all lines of insurance. It is among the top 100 companies on the Forbes Global 500 list.