Overview of the Position
The Workers Compensation Line of Business (WC LOB) Actuarial team supports the $2.7B book of business, working closely with the Segment Actuarial, WC Reserving and Claims Analytics and Business teams to understand the profitability of new business growth and implementation of renewal book profit improvement strategies. Workers Compensation has been a profit leading line, but we are in the middle of soft market and competitive pressures are making it essential that we understand our rate indications to ensure the ongoing health of the line of business. The ability to articulate these findings, including the impact and sensitivities of underlying assumptions, in a way that business can drive actionable directives will be paramount. Leveraging continuous innovation and a deep understanding of the business has gotten us visibility at the highest management levels, making this a high-profile opportunity.
This role will be asked to lead the rating pillar including producing rate indications, leading the rate implementation team in the support of filing strategies of our business partners, supporting the monthly production of ultimate accident year maintenance and enhancements and drive strategy through our communication and partnership with our customers. Responsibilities:
Specifically, the individual in this role will be responsible for the following:
- Semi-Annual WC Rate Indications: Own the production, monitoring, enhancement and communication of the rate indications and assumptions. This includes statewide, regional, industry and branch analysis. Coordinating with partners (reserving, product and segment) to get input into this process to ensure the indications are the appropriate balance between stability, responsiveness and representation of the local atmosphere; leveraging both internal and external data sources.
- Rate Plan and State Rate Implementation: Oversee the actuarial aspect of supporting and developing the rate plan, external indications and filing strategy in support of business.
- Ultimate Accident Year System: Responsible for the quality and accuracy of the inputs supporting the monthly and parallel runs. Maintain line specific documentation and communication of line specific nuances such as: state leverage, fixed versus variable expenses, branch level ELRs. Collaborate on implementation of enhancements and re-writes, including build, test and validate.
Qualifications: Experience & Skills:
- Motivate, develop, challenge and lead staff of (4): two ACAS, one actuarial student and one non-student / non-rotating.
Behaviors at the Hartford
- Minimum 5 years of P&C insurance ratemaking, workers compensation experience is a plus.
- FCAS or career ACAS strongly preferred; strong technical / analytical skills
- Working knowledge of SAS or other data querying language
- Strong analytical and critical thinking skills, with thorough attention to detail. Ability to own projects and anticipate obstacles and customer needs.
- Proactive individual, who challenges existing processes, can influence others and can drive a process to a conclusion while meeting critical deadlines.
- Excellent written and verbal communication skills to convey technical results to the business and influence decisions.
- Team player with strong collaboration skills and ability to build trusting, effective partnerships.
- Deliver Outcomes - Demonstrate a bias for speed and execution that serves our shareholders and customers
- Operate as a Team Player - Work together to drive solutions for the good of The Hartford
- Build Strong Partnerships - Demonstrate integrity and build trust with others
- Strive for Excellence - Motivate yourself and others to achieve high standards and continuously improve
Equal Opportunity Employer/Females/Minorities/Veterans/Disability/Sexual Orientation/Gender Identity or Expression/Religion/Age ** NO AGENCIES PLEASE **
A little about us:
HIRING VETERANS IS A PRIORITY FOR THE HARTFORD