Pricing Actuary

Job Description

Job Description

The Pricing Actuary ("PA") plays a crucial role in supporting IFG Companies' underwriting including in maintaining rate adequacy and in improving pricing tools that will benefit the underwriting portfolio of the assigned underwriting units.

The ideal candidate will be technically strong, collaborative and skilled at driving pricing improvements from concept through implementation. Most importantly, the PA will deliver actionable insights that support profitable and sustained growth.

POSITION RESPONSIBILITIES INCLUDING

• Conducting regular rate indication studies to ensure profitability and support business unit financial goals.
• Developing and maintaining appropriate rating plans across underwriting portfolios.
• Collaborating with Underwriting and IT to implement rating logic and pricing structure into the policy administration system.
• Designing and implementing innovative analyses and tools to address the pricing needs of underwriters, enabling data-driven decision-making.
• Collaborating effectively with other members of the Actuarial team in pricing, modeling and reserving to deliver strategic pricing insights to underwriters and senior leadership.
• Monitoring renewal rate changes within underwriting units to balance pricing and renewal retention targets.
• Supporting reinsurance treaty renewal efforts by querying, reviewing, analyzing and validating submission data.
• Assisting with pricing and premium aspects of the annual planning and budgeting processes.
• Providing data and analysis needed for rate filings and various data calls.
• Performing various data analyses utilizing a combination of tools, including Excel, SQL and Python, while streamlining workflows, enhancing data capture and optimizing existing processes.
• Creating and maintaining documentation that adheres to the high standards of practice and qualifications of the actuarial profession by following the precepts of the Casualty Actuarial Society's code of professional conduct.
• Other duties, as required.

KNOWLEDGE, SKILLS AND ABILITIES

• Strong technical skills and tool-building capabilities (Python coding expertise is preferred).
• Excellent interpersonal skills, together with solid written and oral communication skills.
• Strong teamwork and collaboration skills.
• The ability to prioritize and manage multiple tasks while resolving conflicts constructively.
• Excellent computer skills (e.g., Excel, Word, SharePoint and an ability to learn proprietary IFG Companies' systems) and the willingness to learn new ones.

EDUCATION, EXPERIENCE AND CERTIFICATIONS

• Required: Bachelor's degree in Actuarial Science, Data Science, Statistics or a related field of study.
• Required: At least 7 years of experience in the Property & Casualty industry.
• Required: Associate of the Casualty Actuarial Society (ACAS) or Fellow of the Casualty Actuarial Society (FCAS) certification.
• Preferred: Specialty Property or Inland Marine experience.

PHYSICAL DEMANDS

• Physical demands are considered to be that of a climate-controlled office environment, with minimal physical exertion.
• Position is hybrid and requires the ability and willingness to work in an IFG office at least three (3) days per week.
• Position requires prolonged sitting, extensive utilization of computers and interactions with others in meetings or via phone.
• Position requires the ability and the willingness to travel as required to meet business needs.

WHY IFG COMPANIES

• Founded in 1985, IFG Companies is one of the oldest privately held insurance groups in the United States. It combines specialty carrier focus with long-term stability and thinking, promoting a culture of underwriting rigor, collaboration, strategic thinking, superior technology and strong producer partnerships.

BENEFITS

• IFG Companies offers competitive compensation and benefits, including medical, dental, vision, 401(k), flexible spending, short-term and long-term disability insurance, life insurance, long-term care, paid parental leave, vacation, and other paid time off.

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