Arch Insurance Group is seeking a motivated aspiring actuary to join our team in Hartford/New York City. Our group supports P&C Programs and Guaranteed Cost Workers’ Compensation. The P&C Programs business provides highly specialized and tailored insurance products in Workers Compensation, General Liability, Commercial Auto Liability, and Property.

The role includes individual portfolio reviews, account pricing, actuarial parameter studies, building actuarial/underwriting tools, supporting underwriting units, and reporting on business trends. This position will require curiosity, quick learning, problem solving, and strategic business thinking.

This position is an excellent opportunity for a new actuarial candidate looking for intellectual and professional challenges, learning actuarial skills and understanding various products in P&C insurance.

The position provides a competitive compensation package, good benefits, and a superb study program in a supportive, collaborative, and innovative culture that highly values actuarial insight. Many of our C-suite, senior management and business unit leaders are credentialed actuaries.

The primary role will be to provide actuarial support to the P&C Programs Insurance Business Unit. This division highly values actuarial support, in both quantitative & qualitative capacities. The actuarial assistant will have the opportunity to lead as a liaison representing the actuarial team with business partners.

Job Functions

• Profitability Reviews/New Submission Analyses
  • Review products by applying actuarial concepts and techniques to determine portfolio profitability; analyzing and digging into detailed segmentations
• Monitor and Reporting
  • Monitor portfolio rate change, pricing adequacy and underwriting mix change on new and renewal business to help Program Managers make informed decisions
• Actuarial Studies
  • Analyses and research to improve pricing parameters and segmentation to better identify profitable opportunities
• Tool Building
  • Designing, programming, maintaining, and supporting tools used in pricing, and book monitoring
• New Product Support/Rate Plan Improvement
  • Collaborate with Underwriters to create and revise rating plans; develop state specific support for insurance departments

The successful candidate will have the following preferred requirements:

• Demonstrated interest in actuarial science and insurance; no experience required.
• Interest in and ability to complete the actuarial exams and achieve professional property & casualty actuarial credentials.
• Software skills: Proficient w. Excel/Word/ PowerPoint; basic knowledge of R or Python & SQL preferred
• Communication: both oral and written communication skills including presentations and marketing
• Leadership: Able to lead discussion with cross-functional team.
• Collaboration: Able to effectively collaborate with cross-functional business partners
• Efficiency: Strong productivity and organizational skills
• Analytical and quantitative skills: theoretical foundation, work quality, productivity, creativity, ingenuity & problem-solver