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Michelle, Loss Reserving |
At American Family Insurance, actuaries work primarily in two separate areas:
Property/Casualty
Approximately 60 employees work in our Property/Casualty Division.
Position Titles:
- Vice President, Actuarial
- Actuarial Director
- Actuarial Services Director
- Managing Actuary
- Staff Actuary
- Assistant Actuary
- Senior Actuarial Analyst
- Senior Pricing Analyst
- Competitive Pricing Research Analyst
- Senior Competitive Pricing Research Analyst
- Actuarial Analyst
- Senior Rate Technician
- Rate Technician
- Commercial Lines Specialist
Our Actuarial Analysts work with Commercial, Homeowners, Auto or Specialty lines of insurance or research. While the lines of insurance may differ, the general job responsibilities are quite similar. Primary responsibilities include:
Retrieving and adjusting loss and premium experience data, which is then used to review the overall adequacy of our current rate levels.
Reviewing experience that allows us to assess the reasonableness of variations in rates related to differences in the risk characteristics of our policyholders (e.g., type of car or home).
Based on these reviews, rates are revised and analysts prepare supporting information about the revisions that must be filed with state regulatory agencies. Actuarial also works closely with our Information Services division to install the new rates on our computer rating systems.
Occasional special projects allow analysts to work closely with experienced actuaries as well as other Company divisions, such as Underwriting, Marketing or Information Services.
Strong skills in analysis, problem solving, oral communications, writing, organization and planning are required. Experience with Windows-based PC and mainframe computer applications is desired.
RequirementsWe ask for a degree in Actuarial Science, Math or a related field such as Risk Management, Statistics or Computer Science. Successful completion of at least one Casualty Actuarial Society (CAS) exam is preferred (for example, CAS exam 1 or 2, etc.). Any CAS exam, including any of the first four exams that are jointly sponsored by the Society of Actuaries is acceptable.
Life/Health
Approximately 17 employees work in our Life/Health Actuarial Department.
Position Titles:
- Chief Actuary - Life/Health
- Managing Actuary
- Staff Actuary
- Assistant Actuary
- Sr. Actuarial Analyst
- Actuarial Analyst
- Sr. Actuarial Specialist
- Actuarial Specialist
- Rate Technician
Actuaries who work with our life insurance products assist with pricing and product development, valuation, asset liability management (ALM), developing the profit and growth plan and experience studies.
Actuaries who work with our health insurance product assist with the pricing and product development of individual health products, and profitand growth plan development.
Our actuaries often work closely with other external actuaries (e.g., actuarial consultants), as well as with other areas of the company, such as Information Services, Product Design, Life Operations - including Underwriting, Business Systems, Broker/Dealer, Investments, Marketing, Legal and Compliance.
Strong skills in analysis, problem solving, information gathering, customer focus, verbal communications, writing, organization and planning are required. Experience with Windows-based PC and mainframe computer applications is desired.
Requirements
We ask for a degree in actuarial science, math, statistics, economics or a related field such as risk management. General knowledge of life insurance and annuity products or health insurance is also required, as are a background in computer concepts (both mainframe and/or PC) and skill in the use of word processing and spreadsheet software packages. Successful completion of at least one Society of Actuaries exam is preferred.
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