Executive Job Description | This position is responsible for the development and coordination of pricing techniques to determine market rates, assisting in the analysis of company results, fixing problem areas and making necessary changes to achieve a business profit. This includes determining expected loss costs and break-even rates, loss development, loss ratio forecasting, profitability analysis, and designing management reports. This includes the preparation of statistical and financial analysis to assist management in the pricing of new products, review of operating results and other complex issues. The position will coordinate the preparation of rate reviews, rate recommendations and State Insurance Department rate filings.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Develop rates and rating plans
• Produce rate level indications
• Provide rate making information to regulators
• Administer competitive rating software
• Monitor profitability of insurance business and acceptability of insurance rates
• Develop and analyze management reports on business profitability
• Manage Multivariate analysis work utilizing Emblem software
• Manage the premium database to assure the necessary data is available and accurate
• Update rate history
• Utilize in-depth background in S-Plus, SAS, and SPSS to run data mining algorithms.
• Analyze data utilizing knowledge of SQL and Access
• Evaluate the integrity of data and convert databases into a format suitable for data mining.
• Timely reporting of profitability by state
• Manage and develop Pricing staff
QUALIFICATION REQUIREMENTS:
• FCAS preferred with 10+ years of progressive experience in pricing, specifically auto insurance pricing.
• Advanced computer skills in MS Access, Excel, visual basic, SAS, SQL, etc.
• Experience in the insurance industry in Actuarial, Ratemaking, Pricing, and Product Research
• Excellent oral and written communication skills
• Experience with multi-variate analysis techniques, such as GLM, Minimum bias, etc.
• Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of financial, legal and technical information.
• Strong problem and quantitative analytical skills.
• Ability to exercise detailed statistical analysis.
• High energy level, comfortable performing multifaceted projects in conjunction with day-to-day activities.
• Demonstrated strong interpersonal skills. Ability to get along with diverse personalities, tactful, flexible.
• Ability to establish credibility with subordinates and superiors and be decisive, while being able to recognize and support the Company's preferences and priorities.
• Demonstrated strong orientation to the team concept of management and operations.
• Ability to work independently but the experience to identify the need to partner at critical junctures in any business decision making activity.
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