Job description

Requirements

  • Entry level
  • No Education
  • Salary to negotiate
  • New York City

Description

Job Location: United States : Rhode Island : Warwick  

 

Role Value Proposition: 

The Actuary will be actively involved with and driving MetLife Auto & Home’s growth of commercial property & casualty product segment.  This person will design, develop and implement processes, procedures and guidelines to ensure MetLife’s Auto & Home commercial products meet or exceed stated profitability objectives.  Strategies implemented will be based on deep understanding of industry, market and competitive intelligence while ensuring full compliance with all applicable laws, rules and regulations.  This role spans from pricing standard industry commercial auto to dissecting cash flow models used in financial projections and planning.  Become part of the growing commercial team by building your own actuarial infrastructure.

 

Perform actuarial tasks of a mathematical and quantitative nature in support of product pricing, experience analysis, modeling and rate filings. This includes loss cost and expense projections, loss development, rate indications, range of estimates, cash flow and underwriting profit models, data preparation and analysis, and support of rate & rule filings.

 

Key Responsibilities:

Role responsible for the development and proactive management of Commercial Auto pricing & rate development to ensure accelerated growth of commercial products while meeting or exceeding stated profitability objectives. 
Proactive review of market place, competitor, industry and book of business trends. Identification, development and implementation of appropriate pricing strategies to address competitive pressures and book of business development trends.  
Partnership with functional departments (UW, Product, Claims, Finance, etc.) and regular report-outs/updates presented to senior leadership. Ability to relay complex business problems into meaningful mathematical representations.
Follow the MetLife Actuarial Practice Standards with respect to data, actuarial findings/studies/principles, and any actuarial communications.
Actively support MetLife Auto & Home’s introduction of commercial product lines in 50 regulated states.  Business is expected to generate $100M+ - $300M+ annual written premium within four years. 
 

Direct Responsibilities:

Developing and implementing Commercial Auto pricing strategies to meet and/or exceed profitability objectives within commercial products including maintenance of rating plans.
Secure appropriate legal/regulatory approvals for suggested pricing strategies/rates.
Proactively manage profitability objectives based on business development and competitive/industry trends.
Build, support, and manage rating algorithms and commercial data warehouse.
Support leadership in bringing new products to market and/or market segments.
Participates in the MetLife Auto & Home Actuarial Student Program if applicable.
 

Essential Business Experience and Technical Skills:

Required:

2-4 years of actuarial experience and have the responsibility for pricing property & casualty products.
Commercial Auto experience preferred and/or a strong foundation in ISO rating and class plan development.
Designated ACAS while either actively pursuing their CAS Fellowship designation or not.
Direct experience designing/implementing/managing commercial product pricing strategies, rates and rules to drive profitability.
Strong analytical, written & oral communication skills.
Must have a willingness to try and prove the worth of new techniques.
Proven ability to learn basic actuarial principles.
 

Preferred:

Bachelor's degree in mathematics, economics, actuarial science, statistics or related field preferred.
Designated FCAS.
Computer programming experience in SQL, VB, R, Python is highly preferred.
Predictive Modeling experience is desired but not a requirement.
 

Business Category

Property & Casualty - Countrywide Pricing

 

Number of Openings

1

 

At MetLife, we’re leading the global transformation of an industry we’ve long defined. United in purpose, diverse in perspective, we’re dedicated to making a difference in the lives of our customers.

 

 

MetLife is a proud equal opportunity/affirmative action employer committed to attracting, retaining, and maximizing the performance of a diverse and inclusive workforce. It is MetLife's policy to ensure equal employment opportunity without discrimination or harassment based on race, color, religion, sex (including pregnancy,

About the company

The largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries. The firm was founded on March 24, 1868.

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