Actuarial Associate - Commercial Property
If you’re looking for a career that transforms, inspires, challenges, and rewards you, then come join us! Verisk Analytics is a global supplier of risk assessment services and decision analytics for customers in a variety of markets, including insurance, healthcare, financial services, supply chain, and others. We’re a thriving public company with solid revenue growth and earnings and offices worldwide. And we’re continually looking for ways to augment our existing markets and expand into new markets with excellent growth potential. At Verisk, you’ll be part of an organization that’s committed to serving the long-term interests of our stakeholders, including the communities where we operate.
The ISO Solutions unit of Verisk Insurance Solutions (VIS) is seeking an Actuarial Associate to develop analytics and actuarial products for Commercial Property in the Commercial Lines Actuarial Department. Verisk is the 18th most innovative company in the world according to Forbes and an S&P 500 company.
As an Actuarial Associate, the primary responsibility will be to grow, enhance and develop ISO's product offerings in the Commercial Property area. This includes focusing on data evaluation, actuarial analyses, and product design, enhancement and delivery. He/she will also file insurance products, as appropriate, with the various state regulatory authorities, and work to secure approval. Supporting and advising ISO clients on the use of ISO products is a key part of this role.
- Reconcile and evaluate data from different sources, and leverage this data to develop actuarially appropriate insurance cost estimates and rating factors
- Maintain appropriate pricing to accompany state of the art coverage options and up to date programs
- Work with a team for review and file rating factors and rating plans with regulatory authorities and work to secure approval
- Provide excellent customer service and actuarial advice to clients
- Collaborate with other ISO/Verisk divisions (Actuarial Staff Operation, Actuarial Data Management, Coverage Products and Technology) to develop new actuarial products, and bring them to market
- Become a resource for expertise on commercial property data, pricing and analytics
- Bachelor's degree in Actuarial Science, Mathematics, Economics or related fields
- Minimum 5 years actuarial analysis and product development experience desired
- Ability to both work independently and within a team
- Deep knowledge of market, industry, customer, and competitor trends
- Excellent verbal and written communication skills
- Strong computing skills desired, such as SAS, SQL, Syncsort in TSO, Access and Excel, VBA, --- some experience with project oriented programming such as JAVA would be a plus, but is not a requirement
- Familiarity with flood modeling is a plus
- Competitive salary
- Performance bonus
- Comprehensive and competitive health care benefits
- Highly attractive career development and continued learning program
- Strong Actuarial Examination support
About Verisk Analytics & Verisk Insurance Solutions:
Verisk Insurance Solutions/ISO Solutions is a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace.
Education Bachelors (or equivalent work experience)
Job Type Full Time
Location NJ-Jersey City
Years of Experience 5-8 Years
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