Pricing Actuary

3 weeks ago

Melbourne, Victoria, Australia Assurant Full time
What's the role about?

The role will focus on providing pricing and underwriting support to drive the profitable growth of the company's auto business in Australia and New Zealand, while also offering support to other APAC territories at request.

This role recommends and implements techniques which support Assurant operations in achieving its goals related to revenue and profitability targets. The Actuarial Analyst demonstrates the ability to understand direction provided in project deliverables, time management, and development.

This role is expected to also participate in the department's exam and rotational programs, which provides the opportunity to gain experience in numerous areas of the Actuarial organization while also understanding all products included in Assurant's product suite.

The Actuarial Analyst Is Responsible For
  • Performing rate reviews, rate modeling (such as vehicle model rating), and portfolio monitoring for assigned territories/lines of business.
  • Collaborating with local businesses to profitably acquire and grow the motor insurance business by visiting, presenting, and making pricing recommendations to local underwriting agencies and reinsurers.
  • Liaising on a daily basis with external stakeholders such as underwriting agencies, brokers, reinsurers, actuarial consultancies, external vendors, and internal functions such as Business Development, Risk, Claims, Finance, and Operations, etc.
  • Owns the process of responding to all internal, external or ad hoc requests for business unit/product line supported with direct guidance from manager.
  • Appropriately analyzes, adds updates, and summarizes existing memorandum templates
  • Locates and reconciles data from various source systems; ensures accuracy and recognizes adjustments needed for possible data anomalies
  • Gathers information from different internal departments and complete reports and analysis as directed; understands and develops process flows; incorporate feedback provided for reporting and communications
  • Assists with collecting data and responding to inquiries from state insurance departments, auditors, and internal (finance, accounting, regulatory, IT, etc.) areas regarding business processes, gaps, strategy & improvements.
  • Identifies system and data inefficiencies; provide recommendations to resolve.
  • Implements solutions to translate financial projections into business metrics; aware of area productivity, processes, & business profitability.
  • Participates in cross-training and knowledge sharing within team/department to accomplish goals.
  • Actively manages self-development. Takes actuarial exams in pursuit of professional designation

Does this sound like you?
  • Bachelor's degree in Mathematics, Actuarial Science, or related field;
  • Minimum of 3-8 years of overall experience, with a strong preference given to local motor insurance pricing experience;
  • Must be pursuing actuarial designation or is already an Associate of the Australian Actuarial institute (or relevant other bodies including CAS/SOA/CIA/IFoA).
  • Minimum of 3-6 years of progressive responsibilities and related experience in an actuarial role.
  • Has advanced level of understanding actuarial concepts, insurance product and industry knowledge
  • Advanced proficiency in MS Office Applications including Excel, PowerPoint, Word, Outlook, SharePoint. Advanced to Expert proficiency to various data repository platforms (SAS/SQL/R/Python/etc.)

If you think you are a perfect fit for this role, please click the link to apply.

Submit your resume accompanied by a cover letter detailing your experiences and suitability for the role. The successful applicant will be subject to relevant background checks such as reference checks and a police check.

At Assurant, we celebrate the differences that make us who we are. By assembling extraordinary teams from a variety of races, religions, sexual orientations, gender identities, ages, experiences, and abilities, we're able to better reflect the global communities where we live and work. By working to remove barriers, we ensure equity for everyone. The pursuit of inclusion rests with each of us. Because it's only by listening to and representing the unique voices of every individual that we can innovate for all.

For further information about Assurant, please visit our website: https://www.assurant.com/
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