Pricing Actuary

MSIG USA continues to grow!

Company Overview:

MSIG USA is the US-based subsidiary of MS&AD Insurance Group Holdings, Inc., one of the world’s top P&C carriers and a global Class 15 insurer, with A+ ratings and a reach that spans 40+ countries and regions. Leveraging our 350-year heritage, MSIG USA brings the financial strength, expertise, and global footprint to offer commercial insurance solutions that address your business’s unique risks.

Summary/Job Purpose:

We are a multinational casualty insurance company operating in various countries, dedicated to providing exceptional insurance solutions and risk management services to our clients. We are seeking a skilled and experienced Pricing Actuary to join our dynamic team and contribute to our continued success. As a Pricing Actuary, you will play a crucial role in analyzing and determining appropriate pricing strategies for our casualty insurance products in multiple jurisdictions. You will collaborate with cross-functional teams, including underwriters, claims professionals, and data analysts, to develop competitive pricing models and optimize profitability while ensuring adherence to regulatory requirements. The successful candidate will possess strong analytical skills, extensive knowledge of actuarial methodologies, and a deep understanding of the casualty insurance market.

Essential Functions:

• Develop and maintain pricing models and tools for casualty insurance products, considering relevant risk factors, loss experience, and market trends.

• Analyze historical data, market dynamics, and industry benchmarks to identify pricing opportunities and recommend adjustments to achieve profitability targets.

• Collaborate with underwriters, data scientists, and other stakeholders to assess risk profiles, policy terms, and coverage limits and attachment points, ensuring alignment with pricing strategies.

• Conduct actuarial analyses, including rate level indications, trend analysis, loss ratio projections, reserve assessments, and, where necessary, perform risk transfer analysis.

• Stay updated on regulatory requirements and ensure pricing models and methodologies are compliant with applicable laws and regulations.

• Monitor and evaluate the effectiveness of existing pricing models, recommending enhancements or modifications as needed.

• Provide actuarial support for product development initiatives, reviewing new product proposals and assessing their potential impact on pricing strategies and profitability.

• Perform rate monitoring analyses by assessing the impact of changes in rating variables, loss experience, and other factors influencing underwriting results.

• Collaborate with data analysts to leverage advanced modeling techniques and predictive analytics to improve pricing accuracy and risk assessment.

• Communicate pricing recommendations and insights effectively to senior management, underwriters, and other stakeholders, providing clear explanations of the underlying actuarial assumptions and methodologies.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Experience Required:

• Bachelor's degree in actuarial science, mathematics, statistics, or a related field. A professional actuarial designation (e.g., FCAS, ACAS, or equivalent) is required.

• Extensive experience working as an actuary in the property and casualty insurance industry, preferably in a multinational setting covering commercial risks, and reinsurance risks or excess/surplus lines risks.

• Strong knowledge of actuarial principles, methodologies, and techniques used in casualty insurance pricing.

• Proficiency in actuarial software, data manipulation tools, and statistical modeling platforms (e.g., SAS, R, Python).

• Excellent analytical skills and the ability to interpret complex data and models to derive actionable insights.

• Strong business acumen and the ability to balance profitability objectives with competitive market dynamics.

• Knowledge of regulatory requirements and experience ensuring compliance in pricing practices.

• Effective communication skills with the ability to present complex actuarial concepts to both technical and non-technical stakeholders.

• Strong attention to detail and the ability to manage multiple projects and priorities effectively.

• Collaborative mindset with the ability to work in cross-functional teams and build relationships with stakeholders.

• Experience

It's an exciting time for our company and a great opportunity to join a financially sound and growing global insurance group!

It is the policy of MSIG USA to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, MSIG USA will provide reasonable accommodations for qualified individuals with disabilities.

Originally posted on Himalayas