Actuarial Associate - Commercial Lines Pricing

About the role

Tower Hill Insurance Group has an exciting opportunity for a talented Actuarial Associate who enjoys intellectual challenges and is seeking a rewarding career with a company that is experiencing growth. As one of Florida's most trusted names in homeowners insurance, Tower Hill offers great opportunities for career advancement and personal growth, along with very competitive benefits and rewards. We seek professional individuals with drive, a team mentality, who want to make an impact, and are committed to a long-term career in the insurance industry.

The Actuarial Associate evaluates product performance, develops pricing recommendations, and leads actuarial analyses for new and existing insurance products. This position applies advanced actuarial knowledge and professional standards to support strategic decision-making, regulatory and reinsurance reporting, product enhancements, and profitable growth initiatives.

Tower Hill currently operates in a hybrid work environment and may consider candidates located outside of our established office locations. We are presently open to hiring in the following states: CT, FL, GA, IA, IN, KY, MI, MS, NC, OH, SC, TN, TX, VA, WV.

Responsibilities

• Lead actuarial analyses and develop recommendations to support rate revisions, rate certifications, and other pricing initiatives.
• Evaluate product, producer, and portfolio performance and provide recommendations to support profitability, growth, and operational objectives.
• Coordinate with Product on the filing of product forms, manuals, rules, and guidelines with insurance departments and other regulatory bodies.
• Coordinate with Systems to support the accurate and timely implementation of product and rating changes.
• Partner with Underwriting, Product, Marketing, Compliance, Reinsurance/Risk, Claims, and other business areas to evaluate product performance and support pricing and profitability initiatives.
• Evaluate product performance, competitive positioning, and market trends to identify opportunities for product enhancements and pricing improvements.
• Conduct multivariate analyses to evaluate existing rating variables and support the development of new pricing factors and strategies.
• Use simulation or statistical models to address problems or identify profit opportunities.
• Prepare materials for regulators, reinsurers, and other outside parties, such as AM Best, S&P, etc.
• Direct and complete work in compliance with laws, regulations, and generally accepted actuarial practices.
• Prepare and present findings, recommendations, and project updates to technical and non-technical audiences.
• Lead assigned actuarial projects and provide technical guidance to Actuarial Analysts, Specialists, and other professionals to support successful project outcomes.

This job description reflects the general duties considered necessary to describe the essential functions of the job and should not be considered a complete description of all the work requirements and expectations of the position. Tower Hill reserves the right to assign duties not listed herein as necessary to accomplish the goals of the organization.

Requirements

• Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Physics, Economics or related technical field with demonstrated rigorous mathematical course work.
• Minimum of five (5) to seven (7) years of relevant work experience, including a strong analytical background, in-depth knowledge of property and casualty insurance, and experience with Excel, SQL, Access, and Word.
• Previous experience with R, Python, or SAS preferred.
• Associate of the Casualty Actuarial Society (ACAS) designation required.

Benefits

• Medical
• Dental
• Vision
• Life & Disability Insurance
• 401(k)
• Health Savings Account
• Accident, Critical Illness and Hospital Indemnity
• Pet insurance
• Paid time off & Holiday pay

We offer competitive pay and benefits, and well-being programs to support you and your family.