Berkshire Hathaway Homestate Companies has an immediate opening for an Actuarial Analyst.
The successful candidate will support the Pricing, Business Analysis and Product Development units and serve as a technical resource in the development and testing of rating and policy administration systems for assigned lines of business.
Essential Duties and Responsibilities include:
- Designs and/or initiates analyses, compiles data and computes statistics for use in statistical rating studies. Compilations may require downloading and manipulating data from mainframe, vendor, and company developed software application databases. Applies advanced levels of knowledge of mathematics, statistics, principles of finance and business to casualty insurance problems. Develops methods of tracking rate history experience, statistical information, etc. from company data and other industry sources to study rate level indications in states and nationwide as initiated by the individual or management.
- Initiates analyses and proposes changes in rate levels and rating structures based on statistical analyses, company experience, competition, market conditions, legal climate and underwriting practices to management and underwriting.
- Revises company rate manual pages according to decisions of management and underwriting recommending appropriate cost components for use in statistical studies such as loss development factors, trend factors increased limit factors, expense loads, etc.
- Compiles exhibits, explanations, justifications and statistical analysis for the submission of company rate filings, state filing forms and manual pages to the Insurance Departments. Assists in answering inquiries from Insurance Departments regarding submission, such as actuarial justification of filed rates, etc.
- Researches, interprets, and communicates state law requirements affecting coverages. Submits issues to manager and/or actuarial or regulatory personnel for review.