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Form of workSupport insurance company leadership by developing/performing ratemaking strategies and/or unpaid claim estimation with the goal of advancing corporate objectives. The intent is that the individual will focus on ratemaking or reserving and then rotate to the other when comfortable. This position requires strong communication and excellent human relations skills as the Actuary will collaborate extensively with all departments in the organization.
Collaborate with individuals from other departments (sales, product management, underwriting, IT, etc.) to create cohesive business strategies that further KFB’s goals.
Use current actuarial and other analytical techniques to enhance processes and provide recommendations for the following:
Rate level indications for KFB lines of insurance.
Trend analyses for claims, policy growth/retention, quotes, and market research.
Rate/product changes including rate impact estimation, presentation to executive leadership, updates to rating documents, and filing with regulators.
Annual and quarterly unpaid claim estimation.
Premium deficiency reserves.
Ultimate claim payment and frequency estimation for individual events.
Reconcile data sources to match Schedule P, Statement of Actuarial Opinion, and other reports.
Assist with training and mentoring team members.
Assist with completion of actuarial analyses related to the AM Best Supplemental Rating Questionnaire (SRQ).
Collaborate with and support other accounting and finance personnel in project and department deliverables.
Pursue actuarial credentials or maintain continuing education requirements if already credentialed.
Regular, predictable attendance.
This list of essential functions is non-exhaustive and may be supplemented as necessary.
JOB SPECIFICATIONS
Physical demands: Normal vision/hearing (with or without correction); Sitting; Speaking.
Mental demands: Analytical Reasoning; Prolonged Concentration; Ability to grasp new concepts quickly; Decision making ability.
Equipment: Personal computer.
Environmental factors: Standard office lighting, temperature and noise.
SCOPE OF CONTACTS
All levels of KFB personnel including Agents and Agency Managers.
Vendors, consultants, professional groups.
Personnel from other Farm Bureaus.
Department of Insurance.
MINIMUM EDUCATION/TRAINING REQUIREMENTS
Bachelor’s degree required preferably in a highly analytical field, such as Mathematics, Statistics, Economics, Finance, or Computer Science.
Working knowledge of insurance products and operations.
Experienced in at least one data-intensive coding language (SAS, R, Python, SQL, etc.)
Successful completion of at least three actuarial exams. Role and compensation can be expanded for a member in good standing of the Casualty Actuarial Society and the American Academy of Actuaries.
MINIMUM EXPERIENCE REQUIREMENTS
Minimum of 3 years of experience with property/casualty insurance. Preference given to more years of experience.
Personal lines pricing experience preferred.
Reserving experience with both long-tailed and short-tailed lines preferred.
Experience with sources and methods to perform market research.
Proven ability to organize, be creative and innovative in a restrictive time-frame.
Experience with Microsoft Office products, especially Excel.
Compensation to be commensurate with experience and exam status.
