This position is aligned with senior leaders in Claims and our Business Partners in Actuarial. This role will help the Claims organization analyze and translate environmental factors and operational changes into a financial impact for the rest of the enterprise. Examples include the impact of decreasing claim duration on loss development factors or the impact auto parts price increases may have on total severity. This role leverages an understanding of analytics and claim processes to quantify results and identify opportunities or issues that could influence financial results. This role will develop and communicate results while building partnerships inside and outside of Claims. Key constituents are senior leaders in Claims, Actuarial and Finance. This role will be responsible for managing a portfolio of long-term strategic projects. It requires superior levels of personal and situational awareness and the ability to tailor the message for the audience and situation without direction.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
- Quantify the impact of changes in operational processes on frequency, severity or loss development patterns.
- Leverage industry data to build benchmarks against internal trends.
- Works with business partners outside of Claims to proactively communicate operational and environmental factors influencing loss trends related to frequency or severity.
- Communicate operational and financial results fluently.
- May mentor and coach other members of the Analytics team. Actively looks for opportunities to help the team grow their skills and knowledge base.
- Independently manages a portfolio of long-term projects effectively. Identifies key dependencies and resource needs for each project. Does both proactively and checks ins appropriately.
- Leverages differences in perspectives and priorities within and across teams to optimize outcomes.
- Proactively engages business partners to explore new approaches that may optimize results.
- Proactively looks for opportunities to enhance the operational connection between Claims and functional areas.
- Assists team implement new processes and methodologies that facilitate analysis by accident year. Helps keep the team skills relevant in the Analytics space.
- Assists with development of strategic plans
- Engage regularly with partners in Reserving, Pricing and Product Management to explain and quantify new trends and build consensus on the impact
- 15% travel may be required
MINIMUM JOB REQUIREMENTS:
- Actuarial designation of ACAS or FCAS
- 10+ years of experience in the insurance industry
- 2+ years of experience in a leadership role
- Understands the internal and external factors that can impact the income statement & balance sheet
- Understands the rate-making process
- Understands the difference between pricing and reserving processes
- Understands the functional areas outside Claims (Product Management, Reserving, Pricing)
- Understands the functional areas in Claims
REQUIRED JOB SKILLS:
- Ability to organize and develop new tools that will facilitate and expedite regular analysis of results by accident and calendar period
- Ability to work effectively with other senior leaders in the organization both inside and outside of Claims
- Ability to Ability to apply descriptive analytics to analyze data and validate assumptions
- Demonstrates the ability to translate an operational change into a financial impact for the business
- Assist with the design of professional development plans for team members
- Project Recovery - ability to tailor scope & talent to meet deliverable dates
- Risk Management - understands and mitigates risk from novel projects