Project Manager at Huquo
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Senior Manager - Actuarial Delivery Leader - P&C Insurance (6-12 yrs)
Actuarial Delivery Leader (Senior Manager)
Key job responsibilities:
The role will involve thorough understanding of the Admitted suite of Products and processes that have been built across the board, and how to leverage and minimize duplication of efforts. You will be responsible for client delivery of actuarial projects focusing on P&C insurance. The project will cover end to end life cycle of admitted lines and other products including but not limited to Product Idea & Business Needs, Product Development, Communicate with Business, Filing Submission & Support, Build & Maintain Rating Tool, System Requirement, User Acceptance Testing, Data Warehouse, Post production Audit, Bureau Reporting and managing profitability. The role will use actuarial methods and data science techniques to develop insight on trends and set parameters to improve the predictability and accuracy of models. Be responsible for the overall project teams performance, client satisfaction and analyzing the profitability of your assigned project.
1. Profitability: Responsible for account profitability
a. Maintain or exceed budgeted Gross Margin
b. Cost Control and Bench utilization
c. FTE/Effort reduction with process automation and innovation
2. Client Management: Retaining the existing client for future
a. Optimum Client Survey result
b. Relationship Management
c. Client SOW and KPI maintenance for Governance
d. Turn Around Time and Quality adherence
e. Periodic self-Audit and support internal/external audit
f. Document Standardization
3. Process: Head responsibility for the pricing process and related tasks of workflow, quality, peer review, documentation and reporting etc.
a. Set up a framework for assumptions doc, methods and procedures and evaluate the product profitability
b. Evaluate existing and new products profitability, risk and features
c. Develop, optimize and analyze pricing procedures of new and existing products
d. Ensure efficiency and required automations in sub processes like
i. Competitor research
ii. Competitor Analysis: Forms & Rules Review, develop products/rules/factors and file with the DOI for approval.
iii. Compliance & regulatory affairs: State Filings, Insurance Regulation and Handle all the objections related to the filings.
iv. Provide requirements to IT for implementation and then review and perform testing to validate rating.
v. Review the book of business using rate indications and rate monitoring exercises.
vi. Coordinate all regulatory rate filings with company actuaries; all lines, all states. Any revision filings.
vii. Various states require data calls and bureau reporting.
viii. For bureau products, track and analyze all circular releases and propose decisions to business and then file to adopt/non-adopt changes. Rate review process is also conducted.
e. Maintain standard toolset for clients and ensure consistent implementation for quality and accuracy
f. % automation in process: minimum 50%
g. Implement peer review process, adhere accuracy of deliverables
h. Direct efforts to obtain regulatory approval to introduce new viable insurance products to the marketplace on an admitted or surplus lines format
4. People Management
a. Learning program administration
b. IDP Completion of manager and above
c. Work Life balance for the team
d. Maintain low Attrition
e. Conducting one on one
a. Understanding client challenges and needs
b. Acting as a consultant to various problems of customers
c. Developing right solutions for the client improvement and growth
d. Showcasing the specific value proposition of new solutions to the client Deploy approved solutions
Qualification & Experience:
- 7-10 years of experience in an actuarial or analytic role, including P&C Commercial Lines Pricing or reserving.
- Preferable: Previous experience working closely with underwriting and/or product development.
- Preferable: Previous experience with state filing process.
- Completed ACAS. Or Pursuit of CAS credentials with a preference for at least 5 major exams completed.
- Proficiency with Microsoft Office, SQL, R and a high degree of comfort working with large datasets
- Proven math and analytical skills, as normally acquired through a degree in Mathematics, Statistics, Economics, Actuarial Science, or related field experience.
- Solid oral and written communication skills.