Actuarial Analyst I (Commercial Lines)

The above represents the full salary range for this job requisition. Ultimately, in determining your pay and job title, we'll consider your location, education, experience, and other job-related factors, and will fall within the stated range. Your recruiter can share more information about the specific salary range during the hiring process.

We are looking for an actuarial analyst with commercial insurance experience who is comfortable using AI and automation as part of their daily work. The ideal candidate understands commercial lines products, pricing, and regulatory requirements, and can quickly research and synthesize state filings, circulars, and market changes. They are curious, technology-minded, and able to combine actuarial judgment with modern tools to solve business problems efficiently.

This role will have the option to work a hybrid schedule at our Columbus, Ohio or Charleston, WV location. We can hire at multiple seniority levels depending on candidate qualifications. Compensation range shown is exclusive to the Actuarial Analyst I job profile. If you are better qualified at another level, this will be discussed during the process.

Are you a Referral?

If you know a current Encova Insurance associate and would like to apply as a referral, please encourage them to submit your referral information before you submit your application. You will receive an email with a direct URL link to the Job Posting of interest. Applying through this URL link will create your referral relationship for our Talent Acquisition Team.

Unique residence requirements are listed in each job posting, please review closely for details.

Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll. Our current footprint includes:

Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin.

JOB OBJECTIVE:

The Product Actuarial Analyst I (Commercial Lines) will be responsible for pricing property and casualty insurance products with a focus on rate indications and profitability improvements.  This involves compiling and interpreting both internal data and market data.  Partner with business profit centers to support profitable growth goals and strategies.  Duties will be performed with some guidance from the manager.

ESSENTIAL FUNCTIONS: 

• Develop rate indications following standard actuarial practices.

• Review specific components of rating plans using internal profitability data and competitive analysis.

• Calculate impacts of proposed rate, rule, and form changes.

• Prepare rate filings and work with state insurance departments as needed to gain regulatory approval.

• Track changes made by ISO and the Workers Comp rating bureaus.

• Present findings, predicted outcomes or implications, and recommendations to business partners.

• Support maintenance and development of actuarial pricing models.

• Provide clear documentation as part of governance processes.

OTHER FUNCTIONS: 

• Ad hoc analyses or reporting to support business partners and provide actuarial background on financial results.

• Mentor and train technicians and interns.

• Perform other duties as assigned.

KNOWLEDGE, SKILLS AND ABILITIES:

• A B.A. or B.S. degree is required, with preference given to majors in mathematics, statistics, or actuarial science.

• A minimum of one year of actuarial experience is preferred.

• A minimum of two actuarial exams, with commitment to ongoing pursuit of actuarial credentials from the Casualty Actuarial Society, is preferred.

• Strong spreadsheet (Excel) skills. 

• Programming experience preferred (SAS, SQL, R, Python). 

• Developing strong analytical and problem-solving skills.

• Developing strong communication skills to relay complex technical material to a variety of audiences.

This position has been evaluated in accordance with the Americans with Disabilities Act.  Encova Insurance makes every effort to reasonably accommodate disabilities to permit performance of the essential functions and candidates who need such accommodation are encouraged to seek it.  This description reflects the nature and level of work performed by associates in this position.  It is not an all-inclusive inventory of duties, responsibilities and qualifications required.  It provides an accurate overview of the work and skills needed to perform this position.  Because job content may change from time to time, Encova Insurance reserves the right to add and/or delete functions from this job as it deems necessary for business reasons.

Ready to join our team?
At Encova Insurance, we firmly believe that our associates drive our company's success by delivering unrivaled service to our customers. With success in mind, we make an ongoing effort to provide an environment that offers challenging, stimulating, and financially rewarding opportunities. Join us to discover a work experience where you can learn and grow to your fullest potential.

What you can expect from us

In addition to a competitive compensation package, we offer a comprehensive benefits package designed to support the well-being and growth of our associates. Available benefits (subject to any policy or plan changes) include, but are not limited to:

• Health, Dental & Vision Insurance

• Company-provided life and income protection plans

• Eligibility to participate in a company incentive bonus program

• 401(k) Retirement Plan - 100% company match up to 7% on annual salary

• Paid Time Off, Paid Holidays, and Floating Holidays

• Flexible Work Arrangements - Hybrid and remote depending on the role

We believe that happy, healthy associates are the foundation of great work. Join us and thrive both professionally and personally.

Encova Insurance is an EOE/E-Verify employer.