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Form of work
SalaryJob Objective:
The Berkshire Hathaway Group of Insurance Companies is looking for an Actuarial Analyst to support functions at the insurtech initiatives THREE and biBERK (www.threeinsurance.com, http://www.biberk.com/).
This person will be part of a small, fast-paced team and gain exposure to many parts of the company. The ideal candidate will be able to juggle multiple priorities with accuracy and have an entrepreneurial spirit. They will support Pricing, Business Analysis and Product Development units and serve as a technical resource in the development and testing of rating and policy administration systems for assigned lines of business.
Essential Duties and Responsibilities:
- Designs and/or initiates analyses, compiles data and computes statistics for use in statistical rating studies. Compilations may require downloading and manipulating data from mainframe, vendor, and company developed software application databases.
- Applies advanced levels of knowledge of mathematics, statistics, principles of finance and business to casualty insurance problems.
- Develops methods of tracking rate history experience, statistical information, etc. from company data and other industry sources to study rate level indications in states and nationwide as initiated by the individual or management.
- Initiates analyses and proposes changes in rate levels and rating structures based on statistical analyses, company experience, competition, market conditions, legal climate and underwriting practices to management and underwriting.
- Revises company rate manual pages according to decisions of management and underwriting recommending appropriate cost components for use in statistical studies such as loss development factors, trend factors increased limit factors, expense loads, etc.
- Compiles exhibits, explanations, justifications and statistical analysis for the submission of company rate filings, state filing forms and manual pages to the Insurance Departments.
- Oversees actuarial filing submissions, answers routine questions and otherwise assists in answering more difficult inquiries from Insurance Departments regarding submission, such as actuarial justification of filed rates, etc.
- Researches, interprets, and communicates state law requirements affecting coverages. Submits complex issues to manager and/or actuarial or regulatory personnel for review.
- Communicates technical requirements to IT and performs UAT.
Additional Duties and Responsibilities:
Performs related duties as directed or as situation dictates such as special actuarial projects, monitoring regulatory and legislative activities affecting filing requirements, reviewing materials such as industry organization journals, material received from service organizations, insurance departments, etc.
Qualifications:
- Bachelor’s degree in mathematics or related field or equivalent experience
- Proficiency in Excel and familiarity with SQL, Python, R, or other programming languages
- Excellent oral and written communication
- 0-2 years related work experience preferred
- Minimum of 2 actuarial exams
- Strong analytical and problem-solving skills
- Strong attention to detail
- Able to manage multiple projects simultaneously and hit internal and external deadlines
Disclaimer Clause:
The statements herein are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
