Hastings Insurance is currently looking for an Assistant Actuary to join its Actuarial Services team! This is a great opportunity for an experienced Actuarial professional to support the meeting of our strategic goals regarding profitability, growth, and retention.
The Assistant Actuary supports the Actuarial Services Department in continuously refining Hastings pricing to meet corporate targets for profitability, growth, and retention. They proactively provide actuarial support through data management and analysis, research, and innovation. The position also assists in the development and implementation of new product pricing to build and/or maintain a competitive edge for our products in the marketplace.
This position is flexible in its location! Candidates residing within the greater Hastings, Michigan, will be able to work a hybrid (combination of on-site and work-from-home) schedule as an alternative. Preference will also be given to candidates who reside within our six-state territory (Michigan, Indiana, Illinois, Wisconsin, Iowa, or Illinois). Hastings Insurance may consider candidates in other states to work remotely if elements of their application are strong. Generally, this role will work within our standard office hours of Monday - Friday, 8:00 am - 4:30 pm.
- Manages projects in support of pricing utilizing accepted actuarial standards, methodologies, and knowledge gained through pursuing a professional designation in the Casualty Actuarial Society.
- Uses predictive modeling experience to contribute to the development of accurate and effective risk assessment.
- Designs and develops moderate to highly complex actuarial analyses used to determine the indicated rate level needed for assigned lines of business.
- Works closely with the Director of Actuarial Services to develop appropriate pricing strategies to support business goals.
- Researches and determines appropriate analyses to be conducted for projects to make recommendations to achieve corporate goals.
- Conducts or supervises these analyses.
- Conducts peer company analyses using a variety of resources and tools.
- Conducts deep data review and application of analytics for Hastings product lines identifying and recommending areas for improved profitability, growth, and retention.
- Provides intra-departmental technical support for pricing, ratemaking, and analytical tools and applications, including predictive analytics.
- Collaborates with Marketing, Underwriting, Claim, and Product to monitor market for product innovations.
- Prepares and analyzes actuarial data on a monthly and quarterly basis and communicates key observations and trends based on the analysis to the Director of Actuarial Services.
- Makes progress toward attaining a designation of Associate of the Casualty Actuarial Society (ACAS).
- Mentors one or more Actuarial Analysts, as assigned.
- Evaluates procedures and processes regularly and suggests alternatives or improvements.
- Assists external actuarial consultants with pricing reviews and other activities as needed.
- Develops expertise in the insurance business, including regulations, rating practices, and coverage issues both internally and in the marketplace.
- Actively participates in professional development, i.e. continuing education or self-improvement.
- Other duties as assigned by leadership, either verbally or in writing.
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or other related fields, or equivalent work experience required.
- Advanced mathematical and statistical knowledge, such as predictive analytics techniques, is required.
- Three years minimum of actuarial experience, including the following required:
- Experience with predictive modeling and analysis.
- Experience using SQL and R and the ability to identify and resolve complex data issues.
- Pursuing a Casualty Actuarial Society designation with at least 4 actuarial exams completed is required.
- Prior experience in property and casualty insurance with a background in product development, pricing, or underwriting is preferred.
- Demonstrated excellent verbal and written communication ability.
- Demonstrated PC skills, including proficient use of Microsoft Office products.
- Intermediate knowledge in the use of data sources and applications to conduct research.
- Fluent in analyzing data and reviewing analysis from others.
- Strong decision-making ability.
At Hastings Insurance, our balanced corporate strategy focuses on implementing emerging technologies, cultivating strong independent agency relationships, and providing the right products to our policyholders.
We seek to strategically grow our product lines and continue to expand geographically while maintaining our financial stability and innovative nature.
Our talented employees are dedicated to providing excellent customer service to our agent partners and policyholders. Many of our employees have been identified as industry experts, and we value the knowledge and skill that they contribute to our success.
For more than 135 years, Hastings has helped our customers protect their valued assets and rebuild after devastating losses. We are proud to be rated an A (Excellent) insurance carrier by A.M. Best Company.