Pennsylvania Lumbermens Mutual Insurance Company · 1 month ago
Actuarial Consultant
Philadelphia Office
Full-time
Onsite
Senior Level
5+ years expPennsylvania Lumbermens Mutual Insurance Company is seeking an Actuarial Consultant who will work with the Major Account Unit to provide guidance on pricing and program structures for large accounts. The role involves providing actuarial support for rate changes, reinsurance analysis, and collaborating with various internal teams to enhance profitability and strategic planning.
FinanceFinancial ServicesInsurance
Responsibilities
Facilitate communication with key stakeholders and business partners within other functional areas (e.g. Claims, Underwriting, Regulatory, IT, Accounting) on actuarial matters to understand individual claim movements, broader internal and external trends, and compositional changes in the Company’s book
Conduct profitability reviews and new submission analyses: review products by applying actuarial concepts and techniques to determine profitability at line of business and segment levels; perform trend and development analysis at individual account level as well as overall portfolio level
Perform assessment of case, bulk, and IBNR reserves and provide senior leadership with recommendations on appropriate IBNR actions and allocations
Monitor portfolio rate change, pricing adequacy, and underwriting mix on new and renewal business to assist senior leadership in strategic plan development
Provide rate filing support, including preparing formal indications and evaluations of pricing levels
Lead state and product rate review and filings, including interpreting bureau rate changes
Support company leadership with reinsurance analysis and placement, rating agency presentations, and ERM initiatives, including capital modeling
Implement regular competitor analyses to maintain awareness of pricing and product developments in the marketplace
Aid in the development of rating methodologies concerning existing and new company products
Collaborate with Underwriting and Field Operations to develop additional products or offerings
Perform other duties as assigned by CEO and other members of executive leadership
Qualification
Required
Bachelor's degree in actuarial science, mathematics, statistics, economics, or related major
Working toward or completion of ACAS designation with longer term desire for FCAS designation
At least 5-7 years of actuarial experience with a property & casualty insurer; commercial lines experience is preferred
Deep insurance business acumen and understanding of key business drivers and disciplines in underwriting, reinsurance, claims, and financials
Demonstrated ability to effectively communicate results and strategic objectives to senior leadership while fostering partnerships with key stakeholders
Advanced analytical, research, and problem-solving skills; ability to exercise independent judgment and make critical business decisions effectively within scope of authority based on data analyses and reviews
Demonstrated technical skills for data extraction, manipulation, reporting, and documentation
Exposure to a variety of business intelligence tools, including, but not limited to, Microsoft Excel/Access, VBA, SQL, or Python
Commitment to fulfilling company continuing education requirements
Preferred
Commercial lines experience is preferred
Company
Pennsylvania Lumbermens Mutual Insurance Company
Pennsylvania Lumbermens Mutual Insurance Company is a nationally recognized property and casualty insurance carrier serving the lumber, woodworking and building material industries.
51-200 employees
Funding
Current Stage
Growth StageRecent News
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