United Fire Group

  • Actuarial Analyst

    Posted Date 4 weeks ago(10/22/2018 3:14 PM)
    Job ID
    2018-1872
    # of Openings
    1
    Job Locations
    US-IA-Cedar Rapids
    Category
    Enterprise Analytics
    Travel
    None
    Company Car Provided?
    No
  • Overview

    UFG offers you an award-winning workplace and a trustworthy, financially stable company. While we’ve always known our commitment to employees and financial stewardship, it is good to have others recognize our dedicated efforts. We've been named an Iowa Top Workplace by the Des Moines Register for four consecutive years, and included on Forbes’ “America’s Most Trustworthy Financial Companies” every year since 2014. Additionally, UFG is a super-regional property and casualty insurer rated “A” (Excellent) by A.M. Best Company.

     

    The UFG Enterprise Analytics Department is focused on delivering strategically-impactful results by building analytically based solutions that integrate a wide range of internal and external data assets.  The ultimate objective of the Enterprise Analytics organization is to help UFG gain and maintain a competitive advantage in how it prices risk and identifies potential loss.

     

    We are seeking an Actuarial Analyst to support the development of actuarial pricing, data analytic, and state filing projects for UFG’s Commercial Property & Casualty’s segment. This individual will work closely with Underwriters and Data Scientists to develop and implement pricing strategies that drive towards profitable growth of our P&C segment.  The ideal candidate will possess strong technical and communication skills.  We are looking for an individual who is internally motivated, intellectually curious, has the ability to manage multiple projects, and is driven to enhance existing processes.

     

    The Actuarial Analyst supports the pricing of new/renewal business and development of effective premium/rating structure and strategies in support of business objectives. Calculates profit on new and renewal business. Coordinates, prepares and performs actuarial analysis or analyzes loss and expense reserves. Supports Underwriters on pricing decisions.  

     

    INDHP

    Responsibilities

    • Support rating administration and stat coding on the policy administration system
    • Support the annual profitability review process
    • Support the review of portfolios’ historical financial performance as well as support the identification and quantification of underwriting actions
    • Assist with preparation of rate and actuarial memorandums to support rate filing
    • Support experience and rate indication studies to assess rate adequacy
    • Support improvements efforts in order to increase consistency, efficiency, and compliance with internal standards
    • Develop underwriting rating tools and engines
    • Other special projects

    Qualifications

    • BS in Mathematics, Actuarial Science, Statistics or related field.  Advanced degree preferred.
    • CAS Foundational Requirements: Exam 1 (Probability), Exam 2 (Financial Mathematics), VEE, and Exam 3 (Financial Economics)
    • 2+ years of related commercial P&C experience
    • Skills with Excel, Power Point, SQL
    • Knowledge of SAS, R, and data visualization software a plus
    • Strong verbal and written communication skills

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