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Pricing Analyst

2 months ago


Montgomery, Alabama, United States Alfa Insurance Corporate Careers Full time
Job Overview

We are seeking a detail-oriented and analytical Rate Analyst to play a crucial role in shaping our pricing strategies. This position involves the preparation of comprehensive reports, the organization of data derived from Ratabase RIA outputs, and the maintenance of algorithms essential for precise pricing and product adjustments.


Company Profile

Alfa Insurance is a highly-rated insurance provider, recognized for its exceptional range of automobile, home, life, farm, and business insurance solutions. With a commitment to superior customer service, Alfa boasts a remarkable 94% claims satisfaction rate. Since its inception in 1946, Alfa has expanded its reach, serving over 1 million clients across 14 states.


Key Responsibilities
  • Assist in establishing rates and pricing structures for existing products while developing competitive rates for new offerings.
  • Monitor loss experiences and conduct analyses to evaluate profitability, competitiveness, and the adequacy of loss reserves.
  • Prepare necessary documentation, rates, and relativities for rate filings across all states.
  • Manage electronic rate submissions, ensuring effective communication until approvals are granted.
  • Compile reports from Ratabase RIA outputs and organize data for analysis.
  • Draft and maintain algorithms for pricing and product revisions.
  • Conduct testing to verify rate accuracy as required.

Qualifications
  • Bachelor's degree in mathematics, statistics, business, or insurance is required.
  • Experience in the insurance sector, particularly in actuarial or pricing functions, is preferred.
  • Familiarity with company policies, activities, and underwriting guidelines is advantageous.
  • Willingness to learn and utilize the Ratabase rating engine is essential.
  • Proficiency in spreadsheets and databases is desirable.
  • Strong organizational and communication skills are necessary.
  • Ability to work independently with minimal supervision is crucial.

Benefits
  • Annual performance bonus opportunities.
  • Discounts on auto insurance (subject to underwriting approval).
  • Comprehensive benefits package including health, dental, vision, and 401(k) plans.
  • Paid time off bank with accrual after a specified number of hours worked.
  • Short-term and long-term disability coverage.
  • Flexible spending accounts for healthcare and childcare.
  • Opportunities for career advancement.
  • Ongoing training and support throughout your career.
  • Tuition discounts at various colleges in Alabama.
  • Access to fitness facilities and onsite cafeteria.
  • Onsite childcare services available.