State Analyst (Actuarial)
Location: Lincoln, RI, United States
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Description
State Analyst, Actuarial
Actuarial Department
50 Amica Way, Lincoln, RI 02865
50 Amica Way, Lincoln, RI 02865
Thank you for considering Amica as part of your career journey, where your future is our business.
At Amica, we strive to build a culture of belonging where employees are encouraged to share their unique experience to enrich our workplace, strengthen our company’s mission and broaden our vision of what’s possible. We’re focused on creating a workplace that works for all. We’ll continue to provide training, guidance, and resources to make Amica a true place of belonging for all employees. Want to learn more about our commitment to diversity, equity, and inclusion. Visit our DEI page to read about it!
As a mutual company, our people are our priority. We seek differences of opinion, life experience and perspective to represent the diversity of our policyholders and achieve the best possible outcomes. Our office located in Lincoln, RI is seeking an Actuarial Analyst to join the team!
Our office located in Lincoln, RI is seeking a State Analyst (Actuarial) to join our dynamic and growing State Management organization. As part of our team, your analyses will have direct impact on the rate levels, rating plans, and profit/revenue in key marketplaces around the country.
Job Overview:
Support our growing state management team in developing strategies to meet overall premium, profit and growth objectives. Provide analyses of overall pricing levels, rating structures, product features and underwriting strategies in support of sound recommendations by State Managers with a focus on the Auto and Home lines of business.
Support our growing state management team in developing strategies to meet overall premium, profit and growth objectives. Provide analyses of overall pricing levels, rating structures, product features and underwriting strategies in support of sound recommendations by State Managers with a focus on the Auto and Home lines of business.
Responsibilities:
- Develop rate indications and scenario testing analyses in support of state management
- Analyze state rate levels and rating structures and monitor rate levels of small to mid-level states with little or no supervision
- Perform ad hoc analyses to better understand the performance of our books of business
- Develop clear and comprehensive written proposals for assigned states / region
- Collaborate on special projects related to advancement of rating plans, risk assessment models, and strategic goals as needed.
- Support State Managers in the development of state strategies to meet or exceed premium, profit and growth goals
- Support the development of state financial plans and analysis of progress against plan for assigned states
- Understand the marketplace and legislative issues in assigned states or regions
- Develop and maintain basic product, rating and underwriting knowledge of assigned states or regions, including key competitors in the auto and home lines
- Support monitoring of product, pricing, growth and profit performance, underwriting philosophies, financial results and underlying strategies of assigned states or region
- Facilitate clear communication across state management team and with internal stakeholders as needed. Provide clear and thorough responses to inquiries from the filing team, Departments of Insurance and other internal stakeholders on topics related to assigned states
The 37.5-hour work week is scheduled from Monday through Friday, between the core hours of 8:00 AM and 5:00 PM
A hybrid schedule will be available once trained to work independently, with three days reporting to our Lincoln, RI office and two days working from home. We welcome individuals with higher levels of experience and education. Compensation will be thoughtfully evaluated to reflect your valuable expertise.
This role does not currently offer employment visa sponsorship.
Total Rewards:
- Medical, dental, vision coverage, short- and long-term disability, and life insurance
- Paid Vacation – you will receive at least 13 vacation days in the first 12 months, amounts could be greater depending on the role. While able to use prior to accrual, vacation time will accrue monthly
- Holidays - 14 paid holidays observed
- Sick time - 6 days sick time at hire, 6 additional days sick time at 90 days of employment
- Generous 401k with company match and immediate vesting. Additionally, annual 3% non-elective employer contribution
- Annual Success Sharing Plan - Paid to eligible employees if company meets or exceeds combined ratio, growth and/or service goals
- Generous leave programs, including paid parental bonding leave
- Student Loan Repayment and Tuition Reimbursement programs
- Generous fitness and wellness reimbursement
- Employee community involvement
- Strong relationships, lifelong friendships
- Opportunities for advancement in a successful and growing company
Qualifications:
- Bachelor’s degree in mathematics or related field.
- Experience in data analytics, state analytics and/or completion of actuarial exams toward a designation in the Casualty Actuarial Society
- Foundational analytical and communication skills with ability to collaborate across functional areas.
- Basic knowledge of product pricing and ratemaking principles.
- Basic knowledge of data sources, data retrieval processes, spreadsheet construction and other relevant analytical software applications.
- Basic knowledge of rate review processes, including the determination of rate level adequacy and all associated rating calculations for multiple lines of business, with emphasis on personal auto and homeowners
- Basic knowledge of general company product offerings, underwriting strategies, accounting, data processing, marketing, sales and claims systems
Amica conducts background checks which includes a review of criminal, educational, employment and social media histories, and if the role involves use of a company vehicle, a motor vehicle or driving history report. The background check will not be initiated until after a conditional offer of employment is made and the candidate accepts the offer. Qualified applicants with arrest or conviction records will be considered for employment.
The safety and security of our employees and our customers is a top priority. Employees may have access to employees’ and customers’ personal and financial information in order to perform their job duties. Candidates with a criminal history that imposes a direct or indirect threat to our employees’ or customers’ physical, mental or financial well-being may result in the withdrawal of the conditional offer of employment.
About Amica:
Amica Mutual Insurance Company is America’s oldest mutual insurer of automobiles. A direct national writer, Amica also offers home, marine and umbrella insurance. Amica Life Insurance Company, a wholly owned subsidiary, provides life insurance and retirement solutions. Amica was founded on the principles of creating peace of mind and building enduring relationships for and with our exceptionally loyal policyholders, a mission that thousands of employees in offices nationwide share and support.
Equal Opportunity Policy: All qualified applicants authorized to work in the United States will receive consideration for employment without regard to race, color, religion, sex, gender, gender identity, gender expression, sexual orientation, family status, ethnicity, age, national origin, ancestry, physical and/or mental disability, mental condition, military status, genetic information or any other class protected by law. The Age Discrimination in Employment Act prohibits discrimination on the basis of age with respect to individuals who are 40 years of age or older. Employees are subject to the provisions of the Workers' Compensation Act.
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