Lead Actuary - Workers' Compensation
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US
Company:
Kinetic is redefining workers' comp insurance with technology-driven solutions focusing on injury prediction, prevention, and management.
Summary:
The Lead Actuary will oversee the actuarial analysis and pricing strategies for Workers' Compensation, working closely with internal teams and external partners. Candidates should have extensive experience in actuarial science, especially in Workers’ Comp, and a strong data-driven mindset.
Requirements:
Technology: Python, SQL, Excel, Google Sheets, BI tools (Looker, Tableau, Mixpanel)
Hard Skills: Management of data analysts, Forecasting loss ratios, Analytical investigation of claim trends, Refining pricing methodologies, Communication with capacity providers
Experience: 10+ Professional experience in an actuarial science role for P&C lines of insurance, with at least 5+ years in Workers’ Compensation., Performed actuarial analyses on large WC books of business of at least $80M in premium on a national geography., Developed sets of leading indicators to understand how a book is performing compared to plan., Developed sets of metrics to understand pricing and performance by the underwriting team: effective LCM, scheduled credit, etc., Comfortable using industry data from multiple bureaus, and comparing the performance of a book with industry benchmarks., You've built Excel based tools for UWs to enable pricing accounts in mid-market, and those tools have been used in production., Ability to communicate effectively to cross functional partners of varying technical levels., Experience influencing the product strategy through analyses.
Job Description:
Kinetic is looking to hire our first actuary. This is a leadership role that will be working closely with our capacity providers and internal teams to make data-driven decisions on pricing, as well as leading analysis across the organization as it relates to our insurance book. At Kinetic we are extremely data driven - we rarely make decisions without them being backed by data. We meticulously track the important metrics in our business, and have a suite of dashboards that provide those metrics along with corresponding trends and insights.
This individual would oversee and manage two analysts currently conducting analysis on our portfolio. The ideal candidate is excited to work with the entire executive team and their respective departments to understand our goals, provide forecasts, and direct changes in the way we price and model out our Workers’ Comp product.
You will need to identify important analytical questions, the technical ability for complex deep-dives, and the communication skills to turn data insights into action. You will work with multiple insurance stakeholders, ranging from underwriting, distribution, claims, product and everything in between. In order to succeed, you’ll need to demonstrate strong capabilities at uncovering patterns and delivering data-driven insights.
What you'll do:
- Manage a team of two data analysts to provide quick, accurate insights on claims, pricing, and other key drivers for business decisions.
- Lead forecasting of loss ratio across multiple industries and capacity partnerships. You will be responsible for making sure our data is accurate and up-to-date, providing the best window possible to current and future performance.
- Identify and manage analytical investigations around claim trends at Kinetic, as well as communicate these trends and impacts to the leadership team and our partners in a clear, digestible manner.
- Provide guidance and new methodologies to better refine our pricing of policyholders. We loss-rate underwrite everything, and you will lead any changes into development considerations by state, carrier, etc.
- Communicate and lead conversations with capacity providers on pricing adequacy and forecasting of loss ratio. This includes developing materials to build trust with our capacity partners about the health of our book.
What you've done:
- 10+ Professional experience in an actuarial science role for P&C lines of insurance, with at least 5+ years in Workers’ Compensation.
- Performed actuarial analyses on large WC books of business of at least $80M in premium on a national geography. This includes loss development using multiple methods, loss ratio prediction, reserve adequacy analysis, and monitoring actual development vs expected.
- Developed sets of leading indicators to understand how a book is performing compared to plan. Ample experience developing data driven actions to correct performance.
- Developed sets of metrics to understand pricing and performance by the underwriting team: effective LCM, scheduled credit, etc.
- Comfortable using industry data from multiple bureaus, and comparing the performance of a book with industry benchmarks.
- You've built Excel based tools for UWs to enable pricing accounts in mid-market, and those tools have been used in production.
- Ability to communicate effectively to cross functional partners of varying technical levels.
- Experience influencing the product strategy through analyses.
Our All-Star Candidate Has Also Done:
- You've worked on predictive pricing models for at least one line of commercial insurance.
- Strong working knowledge of data science programming languages such as Python, proficiency in database query tools such as SQL and comfort with spreadsheet tools such as Excel or Google Sheets.
- Experience building clear and easy to understand dashboards working with BI tools (Looker, Tableau, Mixpanel etc.).
Big plus if:
- Experience at a startup, insuretech or MGA.
What we offer:
- $180k - $225k base salary potential plus equity
- Medical, dental, and vision insurance
- 20 vacation days per year
- 9 federal holidays off
- Parental Leave
- Pre-tax 401k contribution
- HSA with compatible health plans
- FREE: Health Advocate
- FREE: Telehealth Membership
- FREE: OneMedical Account
