Associate Actuary (REMOTE)

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture.

Our Commercial Lines Actuarial department is seeking an Associate Actuary for Commercial Auto to join our growing team in Worcester, MA Corporate Headquarters, or remote work location. 

POSITION OVERVIEW:

This role within the Commercial Lines Actuarial department will have pricing responsibility for the Commercial Auto line of business for Small Commercial and Middle Market. This role will report to the Actuarial Manager of Commercial Auto. The Commercial Auto book is over $300 Million and is one of the most profitability-challenged lines in the industry, requiring an innovative, analytical, and business-oriented actuarial approach.

This role will have ratemaking responsibilities including rate indications, loss trend, loss ratio projections, account segmentation, and other initiatives. Additionally, this role will be responsible for leading several state rate revisions, forecasting IBNR, and leveraging predictive analytics to implement a new product and pricing platform.  This role requires effective communication skills as there will be a high level of collaboration with the business (State Management, Underwriting, field leadership etc.) to support profitable growth across the Core Commercial organization.

This is a Full-time, Exempt role.

IN THIS ROLE, YOU WILL:

• Be responsible for actuarial rate indications and actuarial assumptions
• Lead annual rate revision analyses, filings, and objection management
• Leverage predictive analytics to implement new auto product and pricing platform
• Monitor and analyze profitability and provide thoughtful recommendations to business partners
• Effectively communicate technical analysis to business partners and upper management
• Analyze the book of business and collaborate with field leadership to understand relevant activities and trends
• Collaborate with other Commercial Lines actuarial pricing teams
• Incorporate industry and other external benchmarks into analyses
• Build efficiencies and improvements into existing processes
• May lead or participate in community recruiting and/or training activities

WHAT YOU NEED TO APPLY: 

• Bachelor’s Degree or higher in a relevant technical field
• Five or more years of technical experience in multiple LOB and/or actuarial disciplines such as pricing, reserving or predictive modeling.
• Experience with predictive modeling preferred
• ACAS Designation or higher or equivalent work experience
• Possesses a detailed understanding of actuarial concepts/methods and the ability to research and employ new techniques depending on project requirements.
• Advanced skills using Microsoft Office, including Excel
• Intermediate programming skills (SQL preferred), including the ability to develop and automate processes
• Advanced communication skills; ability to communicate technical concepts to non-technical audiences
• Ability to multitask and meet all deadlines with quality product
  

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
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.  
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.” 
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at:[email protected] and include the link of the job posting in which you are interested.

Privacy Policy:

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Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here.

Compensation:

The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short-term incentive), long-term incentive or spot recognition awards. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.