Actuary – Product Development

About the Role

Overview

We are looking for a Product Development Actuary to develop pricing and actuarial support for new pet insurance product launches and existing product refinements. The teammate will report to the Chief Actuary. In this highly visible role, you will evaluate the pros and cons of various product proposals from a pricing and risk management perspective actively shaping the organization’s future. You will frequently engage in creative problem-solving, pricing coverages that may have never been offered before. We are a small, close-knit, collaborative actuarial team; while this role primarily focuses on product development, you will wear multiple hats and tackle ad hoc actuarial work to support the team as needed.

Location: Remote (U.S.)

Key Responsibilities

• Product Pricing: Drive the pricing and actuarial support for new product development and existing product enhancements
• Evaluate Proposals: Analyze product design proposals to determine pricing viability, risk management, competitive positioning, and customer value
• Market Analysis: Stay highly informed on competitor filings to understand how our products and pricing stand relative to the market
• Data Analysis & Modeling: Write advanced SQL queries to pull from large, detailed medical bill databases for rigorous product pricing
• Regulatory Compliance: Ensure product pricing/rating complies with state-level requirements and propose alternative designs to navigate tougher regulatory environments
• Cross-Functional Collaboration: Operate seamlessly with product, underwriting, marketing, BI, and IT teams in the design and launch of new products. Communicate complex actuarial concepts to a non-actuarial audience
• Innovate: Propose creative ways to price innovative coverage concepts and ideas

Qualifications

• ACAS/ASA (or FCAS/FSA) Designation Minimum
• At least 4 years of experience in an actuarial role in P&C and/or Health
• At least 2 years of experience in an actuarial pricing or product development role
• Creative and able to come up with reasonable pricing assumptions even when there is not direct data to price a brand-new coverage
• Excels in a cross functional environment working with marketing, product, IT, finance, and underwriting in designing and launching new products
• Comfortable in listening to and balancing needs across multiple stakeholders balancing pricing accuracy with customer experience and marketability
• Intermediate knowledge of SQL