Actuary/Pricing Development Manager - Auto Lines Job
American Family Insurance - Madison, WI

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Job Title: Actuary/Pricing Development Manager - Auto Lines
Job ID: 03627
Division : Actuarial
Work Location(s): United States-Wisconsin-Madison
Full/Part Time: Full-Time

Position Details

This position oversees new product development (from model development through business rule development) for personal auto lines (auto, standard auto, specialty lines). This position also manages development and implementation of techniques from various cutting edge predictive modeling tools like price optimization and underwriting modeling to help establish national pricing strategies.

Position Objective
The Actuary/Pricing Manager is responsible for the development and oversight of the rates, business planning, and individual state model application per respective line of business (LOB). Contributes to national pricing strategies for the LOB. Partners with Actuarial Research department on new product and model development and implementation. Provides leadership for the administration of the rate review timeline, process and meeting state filing regulatory standards for each LOB. Manage and oversee either a pricing development unit or a ratemaking unit.

Primary Accountabilities
  • Product Development, Pricing and Ratemaking (70%)
  • Provides input and expert advice to help establish the national pricing strategy for the LOB; assist in the communication of national pricing strategies to business partners.
  • Oversees product development (from model development through business rule development) and rate making (indication development, rate methodology, rate plan review, rate implementation).
  • Uses various predictive modeling tools to produce the analysis (e.g. price optimization, underwriting modeling).
  • Develop, implement and maintain underwriting models to support the LOB strategy and P&G goals.
  • Incorporates general business performance analysis into the ratemaking process.
  • Responsible for managing the analysis, timeline and work for return on equity (ROE) and P&G premium forecasting.
  • Manages the completion of rate level and rate change analyses; manages the investigation and research of potential rating plan enhancements.
  • Responsible for compliance with rate standards used for the respective State Insurance Department.
  • Manages and oversees on-going product and model maintenance.
  • Assists and provides actuarial expertise in the following areas for designated projects: pricing/product design; compliance issues as applied to pricing; financial analysis.
  • Manages the department's performance of other ad hoc pricing analyses, as requested, within Actuarial or outside the division
  • Strategies Linked to Company and Division Goals (15%)
  • Establishes, communicates, and implements departmental plans, objectives, and strategies.
  • Participates as a member of the management team.
  • Maintains an active awareness of American Family's business environments, corporate culture, and structure to support key decision-making.
  • Management/Leadership of for Department or Unit (10%)
  • Manages direct reports, systems, and projects to achieve department/unit goals in accordance with Company policies and practices.
  • Prepares and analyzes department/unit plans and reports.
  • Provides leadership by exhibiting influence and expertise, thus affecting the results of the operating area.
  • Creates an effective work environment by developing a common vision, setting clear objectives, expecting teamwork, recognizing outstanding performance, and maintaining open communications.
  • Develops staff through coaching, providing performance feedback, providing effective performance assessments, and establishing performance & development plans.
  • Professional Development (5%)
  • Actively pursues continuing education requirements.
  • Serves on various teams/committees and provides guidance on actuarial issues.
  • Assists others in their understanding of actuarial issues.
Job Competencies
  • Achieve Results
  • Be Accountable
  • Lead Change
  • Lead Corp Vision & Strategy
  • Lead People
  • Maximize Customer Experience
Education/Licenses/Designations
  • At least, the Associate of the Casualty Actuarial Society (ACAS); must be pursuing the Fellowship (FCAS) to be completed within 36 months.
  • Bachelor degree in Actuarial Science, Mathematics, Statistics, Economics or other relevant quantitative field.
Specialized Knowledge and Skills Requirements
  • Demonstrated experience communicating complex data to multiple business partners.
  • Demonstrated experience in public speaking and use of appropriate presentation skills.
  • Extensive knowledge and understanding of underwriting guidelines and concepts and the impact to rates.
  • Extensive knowledge and understanding of property and casualty products, pricing, rates and industry trends.
  • Extensive knowledge, understanding and demonstrated experience performing statistical/actuarial analysis and data forecasting and modeling techniques.
Travel Requirements
  • This position requires travel up to 10% of the time.
Company Details

Offer to selected candidate will be made contingent on the results of background checks.

A career move to join American Family Insurance may also mean a physical move for you. If you are selected for an interview, information will be provided on the level of relocation assistance available during the interview.

We offer a comprehensive benefits package that includes health, life and dental insurance, a 401(K) plan, paid holidays, vacation and sick leave and the opportunity for career development. If you would like to put your career in motion apply online today!

At American Family Insurance we strive to be caring, helpful, fair and provide ease and convenience to all our customers. Want to become part of the family that truly cares about YOU? Take the first step to realizing your dreams and learn more at: jobs.amfam.com

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American Family Insurance offers auto, home, life & annuities, health, business and farm & ranch insurance. We’ve expanded...