This role will have responsibilities for Travel Insurance. Travel Insurance is a growing, unique and complicated multi-line specialty product, requiring a creativity because of the complexity of customized coverages, unusual loss triggers and earnings patterns.
Travel Insurance pricing
Creating individual and often creative deals with underwriters to determine appropriate premiums and presenting actuarial review to business unit leaders.
Collaborating with underwriting teams in understanding and using actuarial-built underwriting tools, and customizing tools for unique situations.
Handling specialized contract and data quirks, like unusual earnings patterns and specialized coverages
Business unit partnership – working with the business unit to help achieve their goals.
Tool building – Innovating/improving and maintaining tech-based tools used in pricing, and book monitoring.
Actuarial studies – Looking for creative new approaches for analysis and research to improve pricing parameters and segmentation to better identify profitable opportunities.
Working to create and implement regulatory solutions for a new and rapidly evolving line
Creating rate filings, and working with filings unit to file and gain regulatory approval
Monitoring and reporting - Reporting on key metrics and trends in the business, and performing profitability studies.
Level and role are flexible for a talented candidate with long-term fit and potential. Candidates will evaluated on:
P&C actuarial qualifications: FCAS or ACAS preferred. Expect 7+ years. Will consider strong candidates with 4+.
Teammate: Strength and experience as a teacher, supportive peer, and contributor to a positive culture
Experience: Ability to work independently on standard analyses, and execute complicated analyses with guidance. Preferred skills:
Knowledge of US personal lines regulatory environment
Predictive Modeling or other programming skills
Ability to work with large datasets a plus
Catastrophe modeling a plus
Experience with Travel Insurance a plus
Efficiency: productivity and organizational skills
Analytical and quantitative skills: theoretical foundation, work quality, productivity, creativity, ingenuity
Business acumen: market awareness, well-rounded insurance company and industry knowledge; curiosity and entrepreneurship.
Professionalism: both oral and written communication skills including presentations and marketing
Software skills: Excel, Word and PowerPoint expected; basic knowledge of R, SQL and Power BI needed
Arch Insurance Group, part of Arch Capital Ltd, is a specialty insurer built around talent intensive businesses. We prioritize niche focus, underwriting expertise, flexibility, diversification and disciplined cycle management. We work creatively to provide new value and solutions to our clients and distribution partners. Arch highly values actuaries and actuarial expertise. Many senior executives and business unit leaders are actuaries by training.