Reinsurance P&C Actuarial Analyst

IAT has an immediate opening for an Actuarial Analyst (or a more senior title) to support and collaborate with the entire Assumed Reinsurance team as a member of IAT’s Corporate Actuarial Department.

The role would include pricing individual risks, assisting in reserve reviews, participating in roundtable discussions of deals, and participating in various actuarial projects.

The ideal candidate will have three years of experience, about four exams, and a solid understanding of P&C products. Reinsurance experience is preferred.

The role works a structured hybrid schedule from one of IAT’s office. We are in the office Monday, Tuesday, and Wednesday, with the option to work remotely on Thursday and Friday.

Occasional travel may be required. Other office locations and remote will be considered.

Responsibilities :

Performs economic analyses at the treaty level, identification, quantification, and determination of risk and expense elements.

Determines appropriate returns to support each treaty’s risk profile.

• Monitors profitability of the Assumed Re book of business by participating in the reserving process quarterly. Communicates results to interested constituents in finance, underwriting, and claims.
• Monitors industry trends in frequency and severity by line of business
• Manages books of business; identifies trends, provides recommendations to senior leadership; participates in the implementation and monitoring of the strategic direction
• Gathers data, analyzes information, and makes recommendations / decisions to solve problems. Interprets the meaning of information for others within the organization
• Present and defend pricing analysis in Roundtable decision-making process. Actively participate and constructively challenge the presentation of potential deals in this forum.
• Collaborates with underwriting, claims, IT, and senior management to develop new and improve on existing tools and develop plans for new products or improvements to existing products.
• Provides an economic view of reinsurance purchase options and recommends courses of action.
• Estimates and recommends loss reserves to be carried in the company’s financial statements.
• Develops reports to measure rate action and its impact on retention and new business growth.
• Develops and maintains the capital allocation model to measure the risk-adjusted performance of each business unit.
• Determines rates to be charged for various products.
• Develops rate-making templates and provides support for state-by-state rate filings.
• Gathers data, analyzes information, and makes recommendations / decisions to solve problems. Interprets the meaning of information for others within the organization.
• Performs other duties as assigned.

Qualifications :

• Bachelor’s degree in actuarial sciences, statistics, or analytics and at least two years of relevant experience required.
• Four or more Actuary Exams completed & passed required.
• Able to work independently and have superb oral and written communication capabilities.
• Able to proactively identify opportunities or problems and the ability to facilitate understanding and solution development.
• Able to demonstrate highly skilled analytical and conceptual thinking.
• Able to work effectively in a highly collaborative team environment.
• Able to build and maintain a network of relationships.
• Able to demonstrate a strong work ethic, commitment to meeting deadlines.
• Able to demonstrate a history of taking the initiative, being a self-starter with strong analytical and problem-solving skills.
• Working Knowledge of EXCEL VBA, SQL or Python is preferred.
• To qualify, all applicants must be authorized to work in the United States and must not require, now or in the future, VISA sponsorship for employment purposes.

Preferred to Have :

Candidates with Reinsurance experience.

Our Culture : IAT is the largest private, family-owned property and casualty insurer in the I nsurance A nswers T ogether is how we define IAT, in letter and in spirit.

We work together to provide solutions for people and businesses. We collaborate internally and with our partners to provide the best possible insurance and surety options for our customers.

At IAT, we’re committed to driving and building an open and supportive culture for all. Our employees propel IAT forward driving innovation, stable partnerships and growth.

That’s why we continue to build an engaging workplace culture to attract and retain the best talent.

We offer comprehensive benefits like :

• 26 PTO Days (Entry Level) + 12 Company Holidays 38 Paid Days Off
• 7% 401(k) Company Match and additional Profit Sharing
• Hybrid work environment
• Numerous training and development opportunities to assist you in furthering your career
• Healthcare and Wellness Programs
• Opportunity to earn performance-based bonuses
• College Loan Assistance Support Plan
• Educational Assistance Program
• Mentorship Program
• Dress for Your Day Policy

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

We maintain a drug-free workplace and participate in E-Verify.

$100,000

Please note that actual salaries will vary based on factors such as a candidate's qualifications, skills, competencies, and geographical location related to this specific role.

The annual gross salary range associated with this posting is $68,000 $160,000. This range represents the anticipated low and high end of the base salary for this position.

The total compensation will include a base salary, performance-based bonus opportunities, 401(K) match, profit-sharing opportunities, and more.

IAT Recruiter : Steve Morley Senior Recruiter