The role of the actuarial consultant offers a variety of opportunities across the core functions of loss reserving, rate making, and risk management. In addition, working with clients requires the practitioner to apply the tools of actuarial science to a given project and to explain the findings in a way that allows the client to make good decisions.
Examples of our projects include:
Estimating unpaid property and casualty insurance liabilities, with a disciplined approach to understanding the data, the products, the coverages, the claims function, and the reserving methodologies. The actuary often interacts with the client’s accounting, audit, claims operations, and the senior team to support financial reporting.
Rate making for property and casualty insurance products, including rate level indications, deductible factors, increased limit factors, territorial rating, and classification plans; applying rating plan segmentation tools from machine learning to generalized linear models.
Pricing for reinsurance program placements using experience and exposure-based methods, along with risk transfer testing of reinsurance programs.
Each project typically requires the acquisition, reconciliation, and testing of the data for reasonableness. The work also requires documentation and peer review as part of the reporting process. Finally, the project deliverables are about explaining the findings, discussing implications, and providing insights to our stakeholders.
Knowledge, Experience, and Capabilities:
Candidates should have a B.A. or B.S. degree with a major that emphasizes mathematics, statistics, actuarial science, or data science.
Candidates need a minimum of two years of actuarial experience, and at least three actuarial exams passed, with a commitment to pursuing actuarial credentials from the Casualty Actuarial Society. Preference will be given to near ACAS or full ACAS credentials.
Advanced skill with spreadsheets (Excel) is required.
Programming experience with database tools, such as SQL, and with open-source tools like ‘R’, is strongly preferred.
Strong analytical and problem-solving skills are required.
Excellent communication skills are needed to connect and relate with teammates and clients.
The candidate must have a strong desire to learn and grow with new challenges and have an attitude towards work that always seeks better ways to solve problems.
There will be occasions to travel and meet with clients and business partners, although most of the work will be performed remotely. This is a people business.
Hansen Actuarial & Risk Consulting is a firm specializing in property & casualty analytics and risk management for insurers. Core
services and capabilities include:
- loss reserving and Statements of Actuarial Opinion
- claim estimation models and reserve variability
- ratemaking for personal lines and commercial lines products
- deductible, increased limit, and territorial rating
- multivariate methods for rating class segmentation
- reinsurance pricing and risk transfer testing
- insurance data processing and reporting
- insurance and risk education