SVP, Commercial Lines Rating Sophistication Lead

JOB DESCRIPTION

This Senior Vice President, Commercial Lines Rating Sophistication lead position will be responsible to develop and implement best in class actuarial rating plans that drive profitable growth, including associated data analytics capabilities, focusing initially on Commercial Insurance Small and Lower Midmarket P&C product lines, and then scaling to Upper Middle Market and other commercial lines divisions.

This leader will have 5-8 actuarial direct reports and will lead product line squads, including data scientists, data engineers and model implementation experts from those respective teams.

The role can be based in our Whitehouse, NJ, Jersey City, NJ, Philadelphia, PA, or Simsbury, CT offices, and will report directly to the North America Commercial Insurance lead actuary.

Key responsibilities:


* Owner of the strategy, development, implementation, ongoing management and ultimate business outcomes of pricing models across Commercial Insurance's product lines with an immediate focus on Small & Lower Midmarket P&C lines


* Deliver advancements in pricing segmentation and advanced analytics to achieve profitability and growth objectives across automated digital distribution and traditional underwriting channels


* Drive the end-to-end execution of rating model initiatives, managing cross-functional squads including actuaries, data scientists, and data engineers via an Agile culture and delivery model


* Ensure technical excellence in rating delivery and alignment with business strategy


* Instill appropriate combination of analytical expertise and subject matter expertise in refining rating plan structure.

Consider internal and external data, competitor plans, internal product expertise and market signals in the pricing process.


* Support actuarial state filings associated with the rating plan implementations, and satisfy regulatory requirements


* Lead rating implementation and governance process in externalized rating platforms and lead actuarial production support for existing rating implementations.

Coordinate with IT on budget, requirements and project prioritization


* Create and maintain comprehensive unit and regression test scenarios for rating implementations


* Collaborate with various stakeholders including IT, Product Services, and Business Analysts to update, maintain, and document the implementation of our rating algorithms


* Foster data integrity, quantitative discipline, and analytical rigor, including the continuous enhancement of 1st and 3rd party data used in modeling, underwriting, and monitoring


* Conduct deep dive into existing 1st and 3rd party data assets and identify gaps in data availability, coverage, and accuracy; Partner with the data organization to identify root cause and rectify identified deficiencies.


* Identify and evaluate new 3rd party data sources and oversee integration of 3rd party data sources into pricing modeling and underwriting
...