Senior Pricing Specialist

About the role

This position focuses on developing and managing pricing for insurance products. You will collaborate with various departments to enhance product offerings and ensure profitability. It's an individual contributor role where you'll guide less experienced team members.

Key facts

What you'll do

• Refine insurance products by analyzing market data, customer needs, and competitor offerings.
• Create product development plans and work with different teams to introduce new products and features.
• Keep up-to-date with industry changes and regulations to maintain compliance and competitiveness.
• Develop pricing models that balance risk with financial goals.
• Examine claims data and underwriting results to improve pricing strategies, rating factors, and underwriting rules.
• Update and maintain underwriting guidelines.
• Research customer demands, market trends, and competitive standing.
• Suggest product improvements and new opportunities based on data analysis.
• Work with sales to understand customer needs and ensure products are competitive in features and price.
• Coordinate with underwriting, sales, legal, marketing, and technology teams for successful product launches.
• Train sales teams on how to effectively present and sell products.
• Ensure all products comply with non-admitted insurance regulations and company policies.
• Research state statutes independently when necessary.
• Work with legal and carrier representatives to get approvals for coverage and form changes.
• Track key performance indicators like conversion rates, quote times, claims experience, and profitability.
• Adjust product features and pricing to optimize performance.

Requirements

• A Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics, Engineering, Finance, Business, or a similar quantitative field. Equivalent professional experience may be accepted.
• A minimum of 5 years of experience in insurance pricing or actuarial analysis within property and casualty or specialty lines.
• Proven experience managing the entire rate indication process, including earned premium on-leveling, loss development to ultimate, trend selection, credibility weighting, and translating results into a rating plan with relativity and tier structures.
• Experience developing pricing for new programs, not just maintaining existing ones, including building exhibit sets and finding benchmark loss costs when internal data is limited.
• Ability to work with incomplete or developing data, form defensible rate opinions with stated assumptions, and revise them as new experience becomes available.
• Skill in explaining rate changes clearly to underwriters, sales representatives, and carrier partners, and defending those positions.

Nice to have

• Progress towards ACAS designation or passing actuarial exams is beneficial, but demonstrated pricing judgment is prioritized.
• Experience across various lines such as homeowners, private passenger auto, credit-related or lender-placed products, surety, or commercial property is valued over deep expertise in a single line.
• Experience with both commercial and personal lines is ideal.
• Actuarial consulting experience.

Skills & tools

• Advanced proficiency in Excel, including building reusable tools and exhibit templates with quality control and documentation.
• Familiarity with AI-enabled tools like Claude for analysis, research, and documentation.

Practical notes

• Employment is conditional upon a satisfactory general and criminal background check.