Actuarial Consultant - Group Benefits Life and Accident Pricing

The Hartford

2mo ago

Job
Full-time
Mid Level
Data
$79K - $118.4K
Hartford
Quick Apply

AI generated summary

You need 3+ years analytical experience, group pricing knowledge, strong Excel skills, database proficiency, project management experience, effective communication, and deep curiosity for the Group Benefits field.
You will work with Underwriting to optimize pricing for group life and accident benefit cases, developing pricing tools, analyzing data, and supporting strategic initiatives such as COVID-related analysis and enrollment initiatives.

Requirements

3+ years of experience with an analytical focus.
Experience assessing risk and knowledge of group pricing and rating techniques preferred.
Strong analytical skills, including strong Excel/VBA/Access skills.
Database experience with R or other similar programming language preferred.
Experience participating in cross functional projects, influencing and driving results for both actuarial and non-actuarial audiences.
Effective written and verbal communication and general business management skills are imperative.
Intellectually curious and strong desire to further one’s knowledge of the current Group Benefits landscape.

Responsibilities

Work with and assist Underwriting on Life/AD&D case pricing to optimize profitability and market competitiveness.
Develop/revise pricing tools used by actuaries and underwriters to improve pricing accuracy and efficiency in Life/AD&D businesses.
Support Pricing Targets – assist in review of internal and external data to assess book assumptions for pricing tools used for 1000+ employee case pricing, analyze historical manual rate and claims experience to determine pricing actions.
Support ad-hoc pricing requests, including pricing Retiree Buyouts and Survivor Income Benefits.
Life/ADD Actuarial Mailbox - Partner with Underwriting to determine appropriate risk charges on a case-by-case basis. Examples include developing pricing for unique cases/benefits like Retiree Buy-Outs and Survivor Income Benefits, and completing industry surveys related to pricing and profitability.
Support Strategic Initiatives such as:
Work on ad-hoc analysis related to current events like COVID and Excess Mortality
Own the Portability experience review and recommend pricing action if needed
Support Supplemental Life enrollment initiatives.

FAQs

What are the primary responsibilities of an Actuarial Consultant in Group Benefits Life and Accident Pricing?

The primary responsibilities include working with Underwriting on case pricing, developing and revising pricing tools, supporting pricing targets, handling ad-hoc pricing requests, and supporting strategic initiatives such as analysis related to current events and enrollment initiatives.

What qualifications are required for this position?

The qualifications include at least 3 years of analytical experience, knowledge of group pricing and rating techniques, strong analytical skills including Excel/VBA/Access, database experience with R or similar programming language, experience in cross functional projects, effective communication skills, and a strong desire to further one's knowledge of the Group Benefits landscape.

The Hartford

Underwriting human achievement for over two hundred years.

Finance

Industry

10,001+

Employees

1810

Founded Year

Mission & Purpose

Human achievement is at the heart of what we do. We put our belief into action by not only ensuring individuals and businesses are well protected, but by going even further – making an impact in ways that go beyond an insurance policy.