Senior Associate Actuary

Senior Associate Actuary

Skills: Actuarial, P&C, ACAS, FCAS

Header: 

Header: NJM Insurance Group (NJM) seeks a Senior Associate Actuary to join our Personal Lines Pricing team.

Must have:

• Minimum of 7 years’ experience in P&C (Property and Casualty Insurance)
• ACAS or FCAS credential

Additional information:

• BONUS: Incentive bonus eligible for 2024 (paid in 2025)
• BENEFITS: 2024 NJM Benefits Brochure
• INTERVIEW PROCESS: 1st Phone Screen with Manager, 2nd Phone Screen with HR, (3rd May be Final Round) then on site for ½ day of team meetings.
• Hybrid: NJM offers a Hybrid Schedule of 3 days onsite and 2 days remote (Onsite Monday, Tuesday and Thursday each week, with Wednesday and Friday WFH)

Experience level: Mid-senior

Experience required: 7 Years

Education level: Bachelor’s degree

Job function: Finance

Industry: Insurance

Relocation assistance: No

Visa sponsorship eligibility: No

OVERVIEW:

• NJM Insurance Group (NJM) seeks a Senior Associate Actuary to join our Personal Lines Pricing team.

ABOUT ACTUARIAL:

• The Actuarial department at NJM provides insight and analysis to help solve complex business problems.
• The department consists of the following teams: Personal Lines Pricing, Commercial Lines Pricing, Reserving, and Predictive Analytics.

ROLE AND RESPONSIBILITIES:

• As an Associate Actuary, you will collaborate with other actuaries and colleagues across the company to solve important business problems. Potential projects include the following:
• Perform pricing studies to evaluate the profitability of our Auto and Homeowners insurance products. Present results to the Executive Leadership Team (ELT).
• Analyze rating variables and recommend pricing changes.
• Perform competitor analysis to maintain awareness of pricing and product developments in the marketplace.
• Collaborate with the Predictive Analytics team on modeling projects.
• Partner with Marketing to help drive higher returns on advertising expenditures.
• Analyze usage-based insurance (UBI) data and offer recommendations on pricing changes.
• Perform trend analysis to understand changes in the frequency and severity of insurance claims.
• Analyze the impact of crash-avoidance technology on Auto insurance claims.
• This is a hybrid position with some on-site and telecommuting availability each week.

QUALIFICATIONS:

• At least 7 years of P&C actuarial experience.
• A Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics, or related major.
• Excellent verbal and written communication skills.
• ACAS or FCAS credential.

ABOUT NJM: Founded in 1913, NJM is a regional property and casualty insurer with a national reputation for auto claims satisfaction. NJM offers Auto, Homeowners, Renters, Condo, and Umbrella insurance to individuals in Connecticut, Maryland, New Jersey, Ohio, and Pennsylvania.

NJM also offers Workers’ Compensation, Commercial Auto, Commercial Package and Businessowners insurance to businesses in Connecticut, Delaware, Maryland, New Jersey, New York, and Pennsylvania.

NJM's mission is to provide value-based insurance solutions for the benefit of our policyholders while maintaining the highest levels of service, integrity, and financial stewardship.