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Job Description
Arch Insurance Group is seeking a motivated aspiring actuary to join our team. Our group supports P&C Programs, MidCorp Programs and Entertainment. The business units provide highly specialized and tailored insurance products in Commercial Auto, General Liability, Property, Workers Compensation and Excess Umbrella.
The role includes portfolio profitability reviews, large account pricing, actuarial parameter studies, building actuarial/underwriting tools as well as monitoring and reporting on strategy executions, emerging trends and leading indicators. This position will require strong database and programming skills, curiosity, quick learning, problem solving, as well as strategic business thinking.
This position is an excellent opportunity for a new actuarial candidate looking for intellectual and professional challenges, learning actuarial skills and understanding various products in P&C insurance.
The position provides a competitive compensation package, good benefits, and a superb study program in a supportive, collaborative, and innovative culture that highly values actuarial insight. Many of our C-suite, senior management and business unit leaders are credentialed actuaries.
The primary role will be to provide actuarial support to the P&C Programs Insurance Business Unit. This division highly values actuarial support, in both quantitative & qualitative capacities. The actuarial assistant will have the opportunity to lead as a liaison representing the actuarial team with business partners.
Job Functions
Profitability Reviews/New Submission Analyses
Review products by applying actuarial concepts and techniques to determine portfolio profitability; analyzing and digging into detailed segmentations
Monitor and Reporting
Monitor portfolio rate change, pricing adequacy and underwriting mix change on new and renewal business to help Program Managers make informed decisions
Actuarial Studies
Analyses and research to improve pricing parameters and segmentation to better identify profitable opportunities
Tool Building
Designing, programming, maintaining, and supporting tools used in pricing, and book monitoring
New Product Support/Rate Plan Improvement
Collaborate with Underwriters to create and revise rating plans; develop state specific support for insurance departments
Required Skills/Experience
Software skills: Proficient in SQL, Excel/Word/ PowerPoint and experience w. Python preferred.
Communication: both oral and written communication including presentations and marketing
Leadership: Able to lead discussion with cross-functional team.
Collaboration: Able to effectively collaborate with cross-functional business partners
Efficiency: Strong productivity and organizational skills. Ability to deliver high quality work product in an efficient manner.
Project Management: Strong project management
Analytical and quantitative skills: theoretical and analytical problem-solver with creativity
Demonstrated interest in actuarial science and insurance; no experience required.
Interest in and ability to complete the actuarial exams and achieve professional property & casualty actuarial credentials.
Education
Bachelor’s degree with a concentration in a quantitative discipline such as actuarial science, statistics, computer science, mathematics, economics, or operations research
Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team.
10400 Arch Global Services (Philippines) Inc.
Skills Required
- Proficiency in SQL
- Proficiency in Excel, Word, and PowerPoint
- Experience with Python
- Strong oral and written communication skills, including presentations and marketing
- Ability to lead discussions with cross-functional teams
- Ability to collaborate effectively with cross-functional business partners
- Strong productivity and organizational skills
- Ability to deliver high-quality work efficiently
- Strong project management skills
- Theoretical, analytical, quantitative, and creative problem-solving skills
- Demonstrated interest in actuarial science and insurance
- Interest in and ability to complete actuarial exams and achieve professional property and casualty actuarial credentials
- Bachelor's degree in a quantitative discipline such as actuarial science, statistics, computer science, mathematics, economics, or operations research
What We Do
Arch Capital Group Ltd. (Arch Capital or ACGL), a Bermuda public limited liability company, writes insurance and reinsurance on a worldwide basis through operations in Bermuda, the United States, Canada, Europe and Australia, with a focus on specialty lines. Arch Capital Services LLC is owned by ACGL and provides corporate, legal and other support services to Arch Capital. ACGL provides insurance, reinsurance and mortgage insurance on a worldwide basis through operations in Bermuda, the United States, Canada, Europe, Australia and Hong Kong.
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