Job DescriptionWe are seeking an Associate Actuarial Consultant to join our Commercial Property Actuarial Product team, a highly visible group responsible for shaping and innovating pricing solutions across Commercial Property, Commercial Inland Marine, Equipment Breakdown, and related specialty property lines.This is an opportunity to play a meaningful role in the development of actuarial products that address new and emerging insurance risks, influence market-leading pricing strategies, and support customers in managing increasingly complex exposures. Our team blends deep actuarial expertise with strong business partnership and customer focus to deliver solutions that are both technically sound and commercially relevant.
The successful candidate for this role is expected to initiate proposals and work closely together with team members to identify and solve complex actuarial problems. Given a project, they will be able to guide the solution together with the team directors, manage other team members' work product to support the solution, as well as produce their own work product to support the solution, all while following actuarial standards of practice. They will work on high-profile projects and be able to justify and explain the solution and resulting work product to senior management, customers, and insurance departments.
This actuarial product development role will focus on guiding and performing actuarial analyses of both current rating factors and loss costs as well as creation of new rating factors and loss costs to support updates to Commercial Property and other lines. A solid understanding of basic ratemaking and proficiency in data analysis are required. Additional requirements include but are not limited to analyzing data and making recommendations, providing actuarially sound justification for selections, assumptions and conclusions, and documenting the work product. Supporting the product through the filing process is expected. This role will require frequent communication with many of the functional areas of the ISO Underwriting organization.
Responsibilities- Work on projects independently or in collaboration with other functional areas that target on developing enhancements and innovations to actuarial products and procedures for Commercial Property ratemaking
- Collaborate closely with other ISO divisions on new products that may be actuarial or underwriting focused
- Maintain a high level of customer engagement through product presentations and responses to customer inquiries
- Guide and provide actuarial analyses in supporting, maintaining and enhancing existing Commercial Property actuarial products
- Analyze market, industry, competitor, legal, and regulatory trends and use these to provide actionable insights that drive the business of both the company and its customers
- Interact with regulatory authorities to support new/enhanced products
Qualifications- 7+ years of P&C actuarial experience required; property and/or pricing experience preferred
- ACAS or higher preferred; Exam 5 is required
- Experience in quantitative and qualitative data analysis strongly preferred
- Demonstrated ability to lead initiatives, work independently and as part of a team
- Strong interpersonal, oral, and written communication skills, including presentation skills
- Familiarity with predictive analytics modeling preferred but not required
- Familiarity with ratemaking or classification methods preferred but not required
- Strong computing skills desired, such as SQL, Python, or R.
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Verisk invests in a benefits package for all employees that includes the following: Health Insurance, a Retirement Plan, Disability benefits, and a Paid Time Off program. We offer a competitive total rewards package that includes base salary determined based on role, experience, skill set, and location.
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