Location: Austin, TX / Bedminster, NJ
Title: Senior Actuarial Associate (Pricing)
Reporting to: Chief Actuary
Hippo is modernizing home insurance by putting customers at the center of everything we do. Using innovative technology and a data-driven approach, we strive to provide homeowners with the best policies, best value, and best customer service in the industry. And as if that wasn’t enough, it’s really just the beginning. Hippo’s true ambition lies in helping prevent people from experiencing problems with their homes, to begin with. Because, at the end of the day, the best home insurance policy is the one you never have to use.
About the Role:
The Pricing and Actuarial Analytics department is responsible for the organization's profitability. They own the rate indications and filings. They work closely with Sales, Marketing and Insurance Product to identify and prioritize issues and opportunities and to develop and implement solutions. They will evaluate how to incorporate new data into our analyses and rating plans.
The ideal candidate is an actuary who brings a combination of industry knowledge, business insight and technical skills with you. You are comfortable working in contexts with both extensive and limited data availability, prepared to take a view even when the perfect answer is not yet available. You synthesize complex information to provide meaningful and understandable insight to others, and grasp business needs and opportunities. You are Interested in exploring innovative actuarial rating methods and ways of improving model parameterization, and you are curious, open-minded, inclusive and externally networked across your industry to pursue new ideas.
You question current paradigms to generate new insights that strive for improvement. You will communicate clearly and simply – even when dealing with complicated problems and ideas – and do so both orally and in writing. When interacting with colleagues of every level of seniority and experience, you are empathetic and sensitive, and adjust your communication style to meet the needs of others.
You build broad networks of colleagues with strong interpersonal relationships. The ideal candidate will have an open-minded, intellectually curious approach to everything you do; and is likely someone who is continually learning from a variety of sources. Our expectation is working independently, problem-solving issues, and bringing fresh ideas for improvements to the team.
What You’ll Do:
- Support and drive forward the build out of a framework to measure and manage our countrywide and state portfolio economics across all our products, ensuring the health of the P&L and strategy to achieve our profit, growth, and risk appetite goals efficiently
- Form a holistic perspective and opinion on the book and recommend rate guidance and other levers to drive profitable growth by incorporating all available information and proactively seeking to integrate new information into our framework: actuarial indications, trends, initiatives, risk-based targets, distribution feedback, market and industry data, risk, capital efficiency, and so on
- Envision, design, and implement innovative tools and reporting to analyze market and industry data and incorporate into our decision-making framework
- Support the development and utilization of pricing models and predictive analytics with internal and external data to identify drivers of loss cost, frequency, and severity, draw out important insights and use findings to influence tactical pricing decisions
- Collaborate proactively and independently across functions to drive communication and education around loss ratio performance, risk-based targets, capital efficiency, and strategy
- Use technology to build efficient and scalable processes in a growing, lean company
- Support and advise on a wide variety of related team projects such as rate filings, capital modeling, reinsurance, and underwriting
- 5-7 years of professional experience in actuarial, capital modeling, data science, or related P&C insurance role
- ACAS required, or near FCAS
- FStrong research, statistical, analytical, and mathematical skills with ability to conduct analysis on limited and/or unstructured data.
- Deep knowledge of actuarial and insurance concepts such as loss cost trends, rate indications, loss cost modeling, reserving and other key metrics.
- Demonstrated experience presenting to senior leadership and communicating with a large audience across different disciplines
- Demonstrated project and/or people management and ability to deliver under tight timelines
- Professional experience using Excel required, SQL, R, or Python is preferred
- Pricing or reserving experience preferred
- Excellent communication and interpersonal skills, allowing effective interaction with colleagues and executives
- Demonstrated ability to use analytics and collaboration to drive profitable growth
Nice to Haves:
- Sensitive to model transparency/ethics
- Broad understanding of predictive modeling concepts, including supervised and unsupervised machine-learning approaches
- Experience with database query languages and tools
- Analytical, with a strong ability to identify trends, communicate results, and take action
Compensation and Perks
- Healthy Hippos Benefits- 100% Employer paid medical, dental & vision plan options for our team members AND their families (yes, you read that correctly). As well as 401K, long & short term disability, EAP and flexible spending accounts.
- Flexible Paid Time Off- Uncapped PTO (with manager approval)
- Hippo Habitat - Fast-paced, close-knit, office located in Bedminster, NJ; Beautiful, historic offices in downtown Austin at the corner of 6th & Congress. We also offer commuter benefits including free parking pass. Stocked kitchen.
Hippo is an equal opportunity employer, and we are committed to building a team culture that celebrates diversity and inclusion.
Hippo’s applicants are considered solely based on their qualifications, without regard to an applicant’s disability or need for accommodation. Any Hippo applicant who requires reasonable accommodations during the application process should contact the Hippo’s People Team to make the need for an accommodation known.