Job description
Come join our team! The Actuarial Data Science Analyst is responsible for applying actuarial concepts and data analysis to assist in achieving the company objectives for profitability and growth. This position will assist in the development of statistical models, machine learning, rating plans, pricing strategies, financial modeling, planning, and forecasting based upon interpretation of underwriting results. This position is also responsible for routine projects (i.e., loss tracking, rate level maintenance), data management and providing business information as needed.
Qualifications
- Bachelor’s or master’s degree, preferably in Mathematics, Statistics, Actuarial Science, Data Science, or related field.
- Results orientation, capable and willing to master and apply new concepts
- Advanced Microsoft Excel or Access skills
- Experience with programming: SQL, Python, or other languages
- Strong written and verbal communication skills
- High degree of attention to detail
- Ability to clearly explain complex statistics and technical details
- Must have an understanding of risk scores including how and when to apply them in actuarial analysis
- Excellent mathematical skills such as probability distributions, statistical regressions, statistical inference, and predictive modeling
- Self-motivated
- Works well in a team environment as well as independently
- Casualty Actuarial Society exams and/or experience working in a Property & Casualty company with actuarial science or data science responsibilities a plus.
Responsibilities
- Develop and implement predictive models and algorithms to analyze insurance data, including claims, underwriting, and customer behavior.
- Utilize univariate and multivariate classification techniques and models to improve rate accuracy across all products.
- Create, analyze, and improve rate indications quarterly, including making recommendations on what changes to implement based on review of the data and trends.
- Provide analysis of trends/factors/issues impacting Underwriting results.
- Compile, categorize and audit data.
- Generate and update routine reports as requested.
- Create and enforce policies for effective data management.
- Formulate management techniques for quality data collection to ensure adequacy, accuracy, and legitimacy of data.
- Streamline data collection and analysis procedures to ensure fast access to metrics.
- Extract data from defined sources using standard actuarial methods.
- Conduct analysis on the existing book to determine adequacy of pricing factors.
- Analyze industry and location specific trends and regulatory/legislative activity to identify impact on financials, reserves, and pricing processes.
- Assist in developing rate filings, determination of premiums and pricing levels.
- Document and verify factors used in computations and actuarial models.
- Identify customer needs, both externally and internally, and work to meet those needs using appropriate customer service skills.
- Check reports from other data sources for accuracy and reasonableness.
- Assist department staff with a variety of assignments as needed.
- Additional duties as assigned.
We offer a competitive compensation and benefits package including medical, dental, vision, life, flexible spending and 401(k).
Compensation is commensurate with experience level.
Visit the MMIC website Careers page: https://madisonmutual.com/careers/ for additional information. Also, explore our social media pages to see for yourself why MMIC is a great place to work!
Job Type: Full-time
Benefits:
- 401(k)
- 401(k) matching
- AD&D insurance
- Dental insurance
- Dependent health insurance coverage
- Disability insurance
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid holidays
- Paid time off
- Prescription drug insurance
- Tuition reimbursement
- Vision insurance
Experience level:
Schedule:
- 8 hour shift
- Monday to Friday
Application Question(s):
- This is a hybrid position. Are you comfortable commuting to this job's location in Edwardsville, IL approximately 2 or 3 days a week and working remotely the remainder of the week? (Local candidates only, no relocation reimbursement)
- Have you completed the following level of education: Bachelor's or Master's degree in Mathematics, Statistics, Actuarial Science, Data Science or related field?
- How many years of work experience do you have with Actuarial Data Science?
- Do you have experience with programming: SQL and Python?
Work Location: Hybrid remote in Edwardsville, IL 62025