The Actuary for Commercial Lines is a position that will play a key role in Tower Hill’s growing Commercial lines business. The Actuary will develop and file rates for the company, analyze loss experience for filing indications, trends and loss development and will play a key role in identifying book segments that are unprofitable, and those with potential high margin.
The Commercial Actuary will integrate with key personnel in Underwriting, Claims, Legal, Product, Compliance, Reinsurance, Business Intelligence, and others, as well as establish working relationships with State Departments of insurance.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
The Actuary for Commercial Lines will be responsible for:
Tracking competitor rates and responding to market needs.
Perform analysis of pricing and experience data, including communication of indications to business units and assessment of loss reduction options and prepare pricing proposals and state rate filings where applicable.
Preparation of miscellaneous reports to aid in monitoring the performance of companies, products, and producers.
Coordinating and managing the development and implementation of Commercial products.
Coordinating with Product Development for the filing of product forms, manuals, rules, and guidelines.
Coordinating with Systems to ensure that products are implemented in their entirety.
Reviewing product performance and staying abreast of areas for enhancement or refinement
Communicating as needed with other departments such as Underwriting, Marketing, Compliance, Product Development, and Claims on product-related issues.
Presentation of findings, written and oral.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE
Bachelor’s degree (B. A.) from four-year College or university, typically in mathematics, actuarial science or statistics.
5 or more years of Commercial Lines pricing/ratemaking experience or equivalent combination of education and experience; Progress towards ACAS or FCAS.
Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community. Ability to write speeches and articles for publication that conform to prescribed style and format. Ability to effectively present information to top management, public groups, and/or boards of directors.
Ability to apply advanced mathematical concepts such as exponents, logarithms, quadratic equations, and permutations. Ability to apply mathematical operations to such tasks as frequency distribution, determination of test reliability and validity, analysis of variance, correlation techniques, sampling theory, and factor analysis.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Ability to perform 70% sedentary work, exerting up to 10 pounds of force occasionally and exert negligible force frequently or constantly to move objects, including the body.
Ability to stand, walk, sit, use hands to finger/handle/feel, reach with hands and arms, talk and hear. May be asked to exert up to 20 pounds of force periodically, as needed.
Regular travel within the State is required (which will include overnight stays). The employee must be able to lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and ability to adjust focus.
Ability to process written and other materials visually.
Ability to receive detailed information through oral communication, perceiving the nature of sounds with no less than 40-dB loss at 500Hz, and 2000 Hz without correction.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Fast paced with telephone and personnel disruption.
The noise level is usually moderate.
About Tower Hill Insurance Group
Today we are one of Florida’s largest residential property insurers, represented by more than 850 insurance agencies throughout the state. Tower Hill has been protecting Florida’s home and business owners for nearly half a century.
Although many things have changed over the decades, we remain committed to our company’s original core values — Choices, Confidence, Responsiveness, & Trust.