POSITION OVERVIEW :
The Profitability (REPLAY) team is responsible for forecasting and monitoring personal lines profitability by analyzing frequency and severity results combining internal data, industry data, and macro-economic benchmarks.
The Personal Lines portfolio is over $2 billion of premium across 20 states for Auto, Home, and Other Personal Lines requiring an innovative, analytical, and business-oriented actuarial approach.
In this position you will take a lead role on countrywide loss and premium analysis including rate indications, loss and premium trends, projecting IBNR and loss development, and forecasting top and bottom-line plans You will independently conduct analytical problem solving, develop new techniques depending on project requirements and leverage advanced analytics where appropriate.
Additionally, this role collaborates and presents profitability insights to key business partners (Executive Leadership, Finance, State Pricing, State Management, Reserving) in order to influence Personal Lines strategic direction.
IN THIS ROLE, YOU WILL :
- Forecast and monitor frequency and severity projections combining internal data, industry data, and macro-economic benchmarks.
- Use technical actuarial pricing methods to develop and communicate semi-annual rate indications.
- Project ultimate loss results for usage in Personal Lines Pricing decisions including tracking of IBNR development against actual emergence.
- Effectively communicate technical analysis to business partners and executive leadership.
- Collaborate with business partners including Actuarial State Pricing team in strategy and profitability analyses.
- Build efficiencies and improvements into existing processes.
- May lead or participate in community training activities
WHAT YOU NEED TO APPLY :
- Bachelor’s Degree or higher in a relevant technical field
- 3 to 5 years of technical experience in multiple LOB and / or actuarial disciplines such as pricing, reserving or advanced analytics*
- 4 or more Casualty Actuarial exams*
- Understands fundamental concepts, practices, and procedures relevant to core actuarial discipline.
- Intermediate communication skills; ability to communicate technical concepts to non-technical audiences
- Advanced skills using Microsoft Office, including Excel.
- Intermediate programming skills preferably SQL, including the ability to develop and automate processes.
- Applies project management skills to balance conflicting priorities and complete projects accurately and on time.
- Relationship Building - Builds positive cooperative relationships with others to accomplish organizational goals.
- Influencing Others - Communicates ideas or positions in a persuasive manner that build support, agreement, or commitment.
CAREER DEVELOPMENT :
It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled.
Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you at every level to grow and develop.
BENEFITS :
We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.
Benefits include :
- Medical, dental, vision, life, and disability insurance
- 401K with a company match
- Tuition reimbursement
- Company paid holidays
- Flexible work arrangements
- Cultural Awareness Day in support of IDE
- On-site medical / wellness center (Worcester only)
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