Actuarial Consultant (MA or REMOTE)

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.

Our Commercial Lines Actuarial team is seeking an Actuarial Consultant or Associate Actuary to join our growing team in Worcester, MA Corporate Headquarters or remote work arrangement.

POSITION OVERVIEW:

This role within the Commercial Lines Actuarial department will be largely focused on the General Liability (GL) and Commercial Umbrella lines of business, reporting to the Commercial Lines Actuarial Director of Coverage Analytics. The GL and Umbrella books combine for more than $600 Million of annual premium sold through 5 different products.

This newly formed role will be responsible for assisting with all aspects of casualty lines analysis, including loss & exposure trend analyses, helping to advance pricing sophistication, forecasting IBNR as part of the CLAY (Commercial Lines Accident Year) process, and assisting in the implementation of rate filings for Umbrella and Technology/Cyber products. This role will require effective communication skills as there will be a high level of collaboration with the CL BOP & CPP Pricing Teams and Business Partners (Corporate Underwriting, State Management, Underwriting, etc.).

In this role, you will work independently on challenging assignments. You will prepare analyses then present results to business partners and management along with recommended actions. All of this while actively pursuing your professional actuarial designation with the support of our Actuarial program.

This is a Full-time, Exempt role.

IN THIS ROLE, YOU WILL:

• Assist with analyzing and monitoring the impact of legal system abuse on the casualty lines of business
• Communicate technical analysis results to Business partners and Senior management
• Collaborate with Claims Analytics, Corporate Reserving, Product, and Corporate Underwriting to understand relevant activity and trends
• Collaborate closely with other Commercial Lines Pricing teams on cross lines projects
• Assist Business partners with advancing/monitoring utilization of both large account pricing and GL A-rating tools
• Incorporate industry and other external benchmarks into analysis
• Build new monitoring and analysis tools as needed for the Umbrella and Technology coverages (Life Sciences and Cyber)
• Participate in rate revision analysis, filings, and objection management
• Assist with IBNR forecasting

WHAT YOU NEED TO APPLY:

• Bachelor’s Degree or higher in a relevant technical field
• Five+ Years of technical experience in multiple LOB and/or actuarial disciplines such as pricing, reserving, or advanced analytics
• ACAS preferred but not required
• Advanced communication skills
• Advanced skills using Microsoft Office, including Excel
• Intermediate programming skills, including the ability to develop and automate processes
• Project organization and time management skills in order to balance conflicting priorities
• The ability to communicate technical concepts to non-technical audiences
• Able to apply and interpret company policies and procedures
• Growth Mindset – Embraces a creative approach and a changing environment. Seeks to improve processes, constantly seek to learn, apply new techniques, challenge others and themselves to find a better way
• Relationship Building - Understands the importance of developing and maintaining cooperative relationships with others at all levels of the organization by making others feel their concerns and contributions are important. Builds positive relationships with others to accomplish organizational goals.
• Influencing Others - Communicates ideas or positions in a persuasive manner that build support, agreement, or commitment. Takes actions that directly or indirectly influence others to create buy-in, gain trust, and motivate actions in others or win concessions without damaging relationships.
• Results Orientation - Excited by challenging goals and a desire to exceed standards of excellence. Exceeding the standard can include challenging personal goals, organization's standards, or current industry standards. Exhibits a true sense of competitiveness and a drive for results. Has a strong desire to win in the most challenging of circumstances and the fortitude to take calculated risks to achieve personal objectives and goals, organization's standards, or current industry standards.
• Business Enterprise Knowledge - Understands how one's own function adds value to the organization and to customers. Makes decisions and recommendations clearly linked to the organization's strategy and financial goals, reflecting an awareness of external dynamics. Demonstrates awareness by providing clear explanations for actions taken relative to customer requirements, needs, and industry trends.
• Decisiveness - Makes decisions by quickly assessing the scope of an issue and providing options leading to its closure. Determines appropriate options based on the situation.

CAREER DEVELOPMENT:

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS:

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

Benefits include:

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

EEO statement:

The Hanover values diversity in the workplace and among our customers.  The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.  

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.” 

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities.  Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@hanover.com and include the link of the job posting in which you are interested.

Privacy Policy:

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