Selective 2.0 - Branchville, NJ

posted 5 months ago

Full-time - Mid Level
Branchville, NJ
251-500 employees
Specialty Trade Contractors

About the position

At Selective, we don't just insure uniquely; we employ uniqueness. Our Business Selective is a midsized U.S. domestic property and casualty insurance company with a history of strong, consistent financial performance for nearly 100 years. Selective's unique position as both a leading insurance group and an employer of choice is recognized in a wide variety of awards and honors, including listing in Forbes Best Midsize Employers in 2024 and certification as a Great Place to Work® in 2024 for the fifth consecutive year. Working at Selective means being part of a high-performing team dedicated to serving our customers responsibly by helping to mitigate loss, keeping them safe, and restoring their lives and businesses after an insured loss occurs. Employees at Selective are empowered and encouraged to be their true, unique selves, contributing their diverse talents, experiences, and perspectives to our shared success. We offer a total rewards package that includes a competitive base salary, incentive plan eligibility at all levels, and a wide array of benefits designed to help you and your family stay healthy, achieve your financial goals, and balance the demands of your work and personal life. These benefits include comprehensive health care plans, a retirement savings plan with company match, a discounted Employee Stock Purchase Program, tuition assistance and reimbursement programs, and paid time off plans. In this role, you will perform pricing analyses, experience and profitability reviews, and/or state rate filings, while supporting business units as needed. You will build actuarial and business expertise, including the pursuit of the FCAS designation, and perform other projects and assignments as directed. Your responsibilities will include analyzing pricing and experience data, communicating indications to business units, assessing loss reduction options, and preparing pricing proposals and state rate filings where applicable. You will also assist in providing management with tools to drive appropriate policy-level decision-making, support field underwriting, and prepare special reports and data compilations. Additionally, you will serve as a trainer and mentor to junior actuarial staff while continuing to develop your own knowledge in industry and actuarial disciplines.

Responsibilities

  • Perform analysis of pricing and experience data, including communication of indications to business units and assessment of loss reduction options.
  • Prepare pricing proposals and state rate filings where applicable.
  • Attend and participate in meetings to review results and recommendations with Underwriting when appropriate.
  • Assist in provision to management of tools to drive appropriate policy level decision making by utilizing strategic tools, price monitor, planning/budgeting model and/or predictive modeling.
  • Provide front line field support to Field Underwriting, Corporate Underwriting and senior management to monitor changes to aggregate pricing levels and profitability through periodic analyses.
  • Evaluate and communicate results to supervisor, business units and senior management when appropriate.
  • Prepare special reports, data compilations, analysis of company and industry experience, as well as other ad hoc analysis requests.
  • Assist in the maintenance of automated systems and pricing models and improve efficiencies.
  • Serve as a trainer and mentor to junior actuarial staff.
  • Continue development of own knowledge in areas of industry and actuarial disciplines.

Requirements

  • Strong analytical skills with experience in pricing and profitability analysis.
  • Knowledge of actuarial principles and practices, preferably in the property and casualty insurance sector.
  • Ability to communicate complex data and analysis clearly to various stakeholders.
  • Experience with predictive modeling and strategic decision-making tools.
  • Proficiency in data analysis software and actuarial modeling tools.

Nice-to-haves

  • Pursuit of the FCAS designation or equivalent actuarial qualifications.
  • Experience in mentoring or training junior staff.
  • Familiarity with state rate filing processes and regulations.

Benefits

  • Comprehensive health care plans
  • Retirement savings plan with company match
  • Discounted Employee Stock Purchase Program
  • Tuition assistance and reimbursement programs
  • Paid time off plans
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