The Research & Actuarial Services Department of the National Association of Insurance Commissioners (NAIC) has an exciting opportunity for a Property/Casualty Rate Modeling Actuarial Analyst. We are looking for a team member who would enjoy working for an organization that strives every day to support the public good and make a difference.
This position has the possibility of being remote with required meetings scheduled in the Kansas City office. The office is in the NAIC’s state-of-the-art offices in Town Pavilion in the heart of downtown Kansas City which includes great restaurants and top-notch entertainment venues. This is a full-time position in a positive and flexible environment.
Rate Filing Classification Plan Analysis:
Supports the rate model review team in the technical analysis of an insurance company’s justification for its proposed classification plan(s) in a rate filing. Completes first-level reviews of filings that include typical models with existing technical checklists. Utilizes expertise of P/C rate modeling actuaries to complete technical reviews.
Retrieves pipeline documents and spreadsheet files in SERFF.
Documents technical reviews of classification plan model(s) included in an insurance company’s rate filing.
Identifies and makes improvements to review checklists.
Participates in team peer reviews of work products to present first-level technical reviews and learn from others on advanced technical reviews.
Expands modeling knowledge of modeling techniques.
Recommends improvements to the process, as needed.
Statistics and Documentation:
Creates and maintains directories in SharePoint. Manages the content of the directories, making sure the final documents are contained in the directory.
Uploads documents to and maintains the regulators’ P/C Shared Model Database to assist in the review of insurance company’s classification plans.
Passes at least one CAS or SOA actuarial exam every two years to attain ACAS, FCAS or FSA (general insurance).
Regulatory Training and Presentations:
Assists the rate model team with development of training and presentations to actuarial organizations.
Assists with the Predictive Analytics Book Club trainings, as needed.
Application of Actuarial Principles
Applies sound actuarial principles; maintains actuarial qualifications; and adheres to the codes and standards as promulgated by the American Academy of Actuaries.
Other duties may be assigned.
Assists the rate model review team and/or Education and Training department in the creation of training for state insurance regulatory actuaries conducting rate filing reviews of models.
Prepares speeches, presentations and supporting documentation for NAIC, as needed.
Prepares reports for senior leadership, as needed.
Attends and speaks at industry seminars and educational events as requested and approved by the Director.
Performs other special projects as requested by the Director.
Skills and Abilities:
Knowledge of common introductory statistical techniques and concepts, such as GLMs and GAMs, statistical tests, and model validation techniques.
Introductory insurance modeling knowledge about rate classification is required.
Strong written and verbal communication skills.
Proficiency with Microsoft Word, Excel, and PowerPoint.
Detailed understanding of how property/casualty insurance is priced and what regulatory standards through law, regulation, or bulletin apply.
Minimum Education and/or experience required:
Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance or similar degree from an accredited college or university; 3 years of experience with property/casualty insurance rate data and model creation and analysis (e.g., data mining, data cleaning and scrubbing, correlational analyses, advanced statistics, data transformations, feature engineering, predictive modeling, testing); and 3 years previous actuarial experience in pricing/ratemaking, or equivalent combination of education and experience required.
Actuarial education through the Casualty Actuarial Society or Society of Actuaries (in the general insurance track) will be required.
Passed 3 or more exams conducted by the Casualty Actuarial Society or Society of Actuaries.
Why Work at the NAIC/NIPR?
Flexible Work Environment
5 Hour Work Week
Choice of Insurance Plans
Vacation Buy Back
Infants in the Work Place
Employee Recognition Programs
Days Off for Community Service
Student Loan Repayment Program
The NAIC is proud to be an Equal Opportunity Employer
Applicants for all positions are considered without regard to age, race, creed, color, religion, sex, sexual orientation, gender identity or expression, national origin or ancestry, marital status, pregnancy, genetic information, military or veteran status, disability, or any other basis protected by applicable law.
Telecommuting is allowed.
The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S.
With a Central Office in the heart of downtown Kansas City the National Association of Insurance Commissioners (NAIC) places a premium on creativity and innovation. The NAIC supports insurance regulators in every state, who work to educate, protect and assist insurance consumers with issues ranging from disasters to day-to-day questions. Our employees get the chance to support and develop
the latest technological programs in an energized environment.
Insurance may be complicated, but our employee culture is pretty simple. “Wo...rk hard, play hard” exemplifies our commitment to a work-life balance. We keep it casual with allowing jeans to be worn every day. We believe in rewarding staff with bright, shiny objects as well as treats, games and prizes to show our appreciation for their hard work. And you can say goodbye to a five day work week with our flex schedules.
At the NAIC, location really is everything - from our centrality in the metro area to the conveniences of our vibrant downtown building, with great restaurants and shopping right outside our doors. We pride ourselves on our long-term investment in our employees and support them in all phases of their life, from continuing education and tuition reimbursement opportunities to our infants in the workplace program. We also make charity a company-wide offering through our Volunteer Resource Team (VRT). The VRT sponsors fundraisers, charitable events and community service opportunities throughout the year and has raised thousands of dollars for local and national charities.