Overview:
The Managing Director & Chief Actuary, supporting the direct to consumer and partnerships channels, is a subject matter expert in the areas of reserving, rate indications and claims analysis. They are responsible for researching new approaches to business issues and developing the framework to apply these concepts to our bulk reserving and rate indication processes. The candidate will be expected to quickly acquire knowledge of and be able to extract information from relevant internal and external databases in order to evaluate and communicate the key business drivers related to our financial performance, with a focus on analysis of loss results.
Essential Functions and Responsibilities:
- Responsible for conducting reserving analysis, using both traditional and current nontraditional methods; will also be responsible for developing new non-traditional methods.
- Responsible for conducting internal rate indication analysis, using both traditional and current nontraditional methods; will also be responsible for developing new non-traditional methods.
- Responsible for conducting loss trend analysis, using both internal and external data, to understand the drivers and potential future outcomes of both frequency and severity trends.
- Develops and analyzes key claims metrics and statistics to improve accuracy of reserve estimates.
- Works with Finance team to ensure accurate booking of bulk reserves.
- Serves as Appointed Actuary for assigned companies.
- Conducts peer review of New England Companies’ reserve reviews.
- Assist claims management with developing new reports for operations management.
- Assist claims management with claims initiative analysis, including helping to develop new processes and measuring profitability impacts. Make recommendations and implement solutions.
- Maintain an external network within the insurance industry to track emerging trends and approaches to business issues.
- Responsible for developing actuarial team members.
- Serve as a mentor to other team members on aspects of project work, insurance and general business knowledge.
- Perform other job-related duties as assigned.
Qualifications and Education:
- Bachelor’s degree in Mathematics, Statistics, Economics, Actuarial Science, or related field.
- A minimum of 15 years of analyst experience in a similar professional environment.
- Fellow, Casualty Actuarial Society.
- Proven experience with loss reserve, rate indication and claim metric analysis, including the implementation of new approaches that enhance ongoing analysis.
- A thorough understanding of the insurance industry is required.
- Advanced Querying Skills (SQL or MS Access) required.
- Expert Excel Skills required.
- Superior project management and problem-solving skills.
- Specializes in conceptualizing complex issues, identifying data sets and approach, leading the analysis and communicating the results to both technical and non-technical audiences.
- Confidence in taking ownership of challenging business issues and seeing issues through to resolution.
- Superior critical-thinking and insatiable intellectual curiosity.
About the Company:
The Plymouth Rock Company and its affiliated group of companies write and manage over $2 billion in personal and commercial auto and homeowner’s insurance throughout the Northeast and mid-Atlantic, where we have built an unparalleled reputation for service. We continuously invest in technology, our employees thrive in our empowering environment, and our customers are among the most loyal in the industry. The Plymouth Rock group of companies employs more than 1,900 people and is headquartered in Boston, Massachusetts. Plymouth Rock Assurance Corporation holds an A.M. Best rating of “A-/Excellent”.
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