Casualty Actuarial Specialist

2 months ago

Chicago, Illinois, United States Berkshire Hathaway Specialty Insurance Full time
Position Overview

About Us:
Berkshire Hathaway Specialty Insurance (BHSI) stands as a premier provider of commercial property, casualty, and specialty insurance solutions. Our commitment to delivering exceptional service to clients and brokers worldwide is backed by the strength of the Berkshire Hathaway brand and the expertise of our global team.

We pride ourselves on our core values of respect, integrity, excellence, collaboration, and passion. Embracing diversity in backgrounds and perspectives, we strive to cultivate an inclusive workplace where every team member can thrive and contribute meaningfully.

Opportunity:
BHSI is seeking a talented Actuary to become a vital part of our Global Actuarial Team, with opportunities in various locations. We are in search of an individual who demonstrates both intellectual curiosity and a strong character. This role is ideal for someone who is self-driven, innovative, and enjoys working collaboratively.

The Casualty sector encompasses a wide range of products that serve numerous industries globally. The BHSI Actuarial team has developed numerous models and methodologies over the past decade, yet there remains ample opportunity for further exploration and analysis. In this newly established role within the North American Casualty Team, the selected candidate will take charge of specific business areas, allowing for the design of new analytical frameworks and the enhancement of existing processes. Responsibilities may include developing pricing models, conducting portfolio analyses, and managing databases. Additionally, the Actuary will play a crucial role in pricing significant accounts, collaborating closely with Underwriting and Claims teams.

Key Responsibilities:

  • Conduct in-depth analyses of designated areas within the Casualty sector and devise new pricing processes or efficiency improvements.
  • Price large casualty accounts in collaboration with underwriting teams.
  • Create and maintain quantitative tools for rating and diagnostics to assist underwriters in risk pricing and portfolio management.
  • Evaluate external claims and exposure data to refine proprietary pricing models.
  • Assess the profitability of the Casualty portfolio by developing innovative analytical tools.
  • Investigate new pricing methodologies and enhance current practices.
  • Work alongside other departments (IT, Claims, Underwriting) to develop actuarial systems and data as the organization evolves.
  • Engage with offshore resources to streamline business processes and enhance efficiency.

Qualifications and Skills:

  • FCAS or near-FCAS designation.
  • 7+ years of actuarial experience, preferably in commercial casualty or healthcare insurance.
  • Ability to work independently and efficiently; initial management opportunities may develop over time.
  • Strong proficiency in SQL, R, and VBA is highly preferred.
  • Excellent oral and written communication skills.
  • Strong interpersonal abilities, capable of working both independently and within a team.
  • Desire to learn from peers and share knowledge.
  • Effective time management skills, capable of handling multiple projects simultaneously.

What We Offer:
• A competitive compensation package with opportunities for career advancement.
• A dynamic and thoughtful work environment focused on ethical practices for our clients and stakeholders.
• A non-bureaucratic culture that values simplicity and individual excellence within a collaborative framework.

Note: Compensation will be based on experience. This job description is not exhaustive; team members may perform additional duties as needed to support the organization.

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