Actuary: BI Actuarial Product - Property

Saint Paul, Minnesota

Company Information
Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Summary
Drive profitability measurement via rate adequacy and planning analyses, integrate traditional profitability measurement with pricing tools, and support product development. Evaluate and communicate the impacts of reinsurance and catastrophe strategy. The BI Actuarial Product - Property team is looking for an analytic leader who understands the value of solid actuarial work and who can apply that strategically with our business partners.

You'll work closely with actuaries across Business Insurance, Product Management and Underwriting, Enterprise CAT, Reinsurance, and Loss Analytics. Strategic and critical thinking, a creative approach to quantitative analysis, effective communication with actuaries and non-actuaries, and the ability to influence are critical skills in this job.


Primary Job Duties & Responsibilities
Analyze and share Property strategic rate adequacy semiannually. Continue to develop and implement best practices and link directly to underwriting initiatives. Build loss ratios for the annual plan, working closely with BU actuaries and Loss Analytics. Provide actionable drill down analysis to detailed risk characteristics using our unique Rate Adequacy Profitability Drill Down (RAPiDD) Qlikview tool that links Rate Adequacy with Sold-to-Benchmark metrics. Lead enterprise PSOLD implementation (ISO/Verisk Property Size of Loss Database) to leverage industry data for rate adequacy and pricing guidance. Be the point person within Travelers, coordinate tool applications across multiple areas, and manage the relationship with ISO/Verisk. Participate in and drive CAT model implementation, risk load and cost of reinsurance analyses, and ROE model updates. Leadership/Mgmt: May supervise staff. If applicable, develop objectives and development plans, coach manage performance of staff to achieve excellence and ensure effective performance. Assists in determining goals and setting direction and priorities for the unit. Other duties as assigned.

Minimum Qualifications
Bachelors degree or equivalent education required. 3 years analytics experience required. General knowledge of quantitative analysis required.

Education, Work Experience & Knowledge
College Degree in actuarial science, mathematics, economics or statistic or equivalent preferred. 5+ years of Actuarial/Analytic experience preferred. Understanding with base knowledge in complete range of actuarial functions, including but not limited to, reserving, pricing, business planning, financial reporting, management information, product development, reinsurance and database management. Independent analysis of challenging business issues. Basic understanding of actuarial and other insurance related models (i.e. property CAT, ROE and RBC models). Strong understanding of financial reporting, both GAAP and Stat. Strong understanding of income statements and balance sheets. Strong understanding of insurance products and marketplace conditions and how they impact financial models and results. Strong PC skills, Excel, Access, PowerPoint and Word. Sound understanding of databases and data extraction. Crisp and confident communication of analysis.

Physical Requirements
Operates standard office equipment. Sitting (can stand at will). Use of Keyboards, Sporadic 10-Key.

Licensing or Certificates
Associate Actuarial Credential required. Fellowship Actuarial Credential preferred.

Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.
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About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.