VP, Actuary – Commercial Lines Pricing
Incline P&C Group (Incline) is a quickly growing insurance fronting carrier based in Austin, TX.
We are looking for a Vice President, Actuary to focus on commercial lines pricing. This role oversees statistical modeling to establish rates, performs new program due diligence, and supports active programs operating under Incline. The VP, Actuary – Commercial Lines Pricing will report to the Chief Actuary and assist in managing the actuarial department.
Responsibilities:
New Program Due Diligence
- Perform program historical results and profitability analysis
- Review trend, LDFs, Rate change history and projections provided in new business submission
- Conduct state / product / LOB profit analysis around the new opportunity
- Translate underwriting business plans and projections into quantifiable KPIs that can be tracked at inception of program
- Evaluate actuarial capabilities of Program Administrator and/or their consultants
- Understand pricing methodology or rate algorithms for the business
- Understand rate filing process, where necessary
Active Program Support
- Update profitability analysis for all active programs at least twice a year - prior to renewal and for Budget purposes
- Monitor KPIs defined during due diligence
- Define methodology and perform risk adjusted rate change analysis for each program
- Create alternative methods for ensuring price monitoring (eg vs benchmarks, price per million, etc)
- Develop methods to track exposures and concentrations
- Perform LOB studies on major segments of Incline’s business to assist as benchmarks
- Work with Program Administrator on rate change plan or rate filing plan to maintain profitability
- Provide information to support reinsurance placements
- Build actuarial presentations with reinsurance brokers for use in placement submissions
- Respond to underwriter requests regarding analysis of new products and geographies
- Assist in audits of the program administrator
- Validate and document changes in program pricing approach, including changes in rating models
Catastrophe Exposure Monitoring and Other Corporate Items
- Develop process to aggregate group catastrophe exposure
- Work with Exec Team to define corporate risk tolerance
- Assist in corporate cat reinsurance placement
- Identify opportunities for new business growth and diversification
- Assist in corporate reinsurance placements
- Aid in preparation of budgets and forecasts by Finance
Data and Support
- Interact with data team and Actuarial & Underwriting data analysts to define data warehouse needs
- Build dashboards and reports to allow online access to rate change and other performance metrics
- Develop tools for large account pricing assistance and home office referrals
- Aid in evaluating models and tools such as RMS, for corporate uses
Requirements and Qualifications:
- ACAS or FCAS designation (or equivalent in other countries) is preferred
- Bachelor’
- 7+ years of experience in actuarial pricing, portfolio management or similar position
- Intermediate knowledge of data analysis tools, data visualization, developing analysis queries and procedures in Excel, Python, R, SQL, SAS, or other analysis software, and relevant industry data & methods and ability to connect technical insights to business problems
- Demonstrated familiarity with relevant actuarial, mathematical, and statistical techniques and approaches used to support fact-based decision making
- Strong communication, interpersonal, organization, leadership, and critical thinking skills
- Ability to effectively communicate insights and solutions to broad audiences including actuarial and non-actuarial stakeholders
Incline P&C Group is an equal opportunity employer (EEO).
