Insurance Actuary

1 month ago


Hartford, Connecticut, United States State of Connecticut Full time
Job Title: Insurance Actuary

Are you a detail-oriented and analytical professional looking for a challenging role in the insurance industry? We are seeking an experienced Insurance Actuary to join our team at the State of Connecticut Insurance Department.

Job Summary:

The Insurance Actuary will play a crucial role in determining insurance rates, evaluating risks, and ensuring the financial stability of our insurance programs. This is a unique opportunity to work in a government role while making a significant impact on the lives of Connecticut residents.

Responsibilities:
  • Develop and maintain actuarial models to determine insurance rates and premiums.
  • Analyze and evaluate insurance risks and develop strategies to mitigate potential losses.
  • Monitor insurance program performance and provide recommendations for improvement.
  • Collaborate with cross-functional teams to ensure flawless execution of insurance programs.
  • Conduct research and analysis to support the development of new insurance products.
  • Offer actuarial expertise and guidance to management and other key individuals involved in the decision-making process.
Requirements:
  • Eight (8) years of experience as an actuary with an insurance company, an insurance regulatory agency, or in a consulting actuary's office performing actuarial insurance work.
  • One (1) year of the General Experience must have included experience setting insurance rates and/or reserves for insurance companies or health care centers.
  • College training in mathematics, actuarial sciences, statistics, or a related field may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of four (4) years.
  • A Master's degree in mathematics, actuarial sciences, statistics or a related field may be substituted for one (1) additional year of the General Experience.
Preferred Qualifications:
  • Experience in Property and Casualty in actuarial pricing functions.
  • Experience with pricing and Reserving techniques of the actuarial standards of practice.
  • Experience with Property and Casualty insurance products.
  • Experience in reviewing rate filings or supporting actuarial rate-making functions.
  • Designation of Fellow of the Casualty Actuarial Society or Member of the American Academy of Actuaries (MAAA).
Special Requirements:
  • An Associate membership, by examination, in a relevant actuarial society. For Property and Casualty, membership in the Casualty Actuarial Society is required. For Life and Health area, membership in the Society of Actuaries is required.
Benefits:
  • Health & Dental Insurance
  • Accrued Vacation, Personal and Sick Leave (Subject to the appropriate bargaining union contract or state statute and regulations.)
  • Retirement Plan
  • Group Life Insurance
  • Supplemental Benefits Voluntary Defined Contribution Plans Flexible Spending Accounts (Dependent Care Program, Medical Flexible Spending, and Qualified Transportation) Supplemental Benefits Programs (Auto and Home Insurance, plus Short and Long Term Disability) Life Insurance
  • State of CT Tuition Reimbursement Program
  • Holidays


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