Actuarial Analyst I

The Actuarial Analyst I supports the pricing of new/renewal business and development of effective premium/rating structure and strategies in support of business objectives while being introduced to basic ratemaking and insurance concepts. Calculates profit on new and renewal business. Coordinates, prepares and performs actuarial analysis. Supports Underwriters on pricing decisions.

Essential Duties & Responsibilities:

Learn and apply fundamental actuarial principles and apply when analyzing company and industry data to prepare for pricing analysis Support rating administration and stat coding on the policy administration system Support the annual profitability review process Support the review of portfolios' historical financial performance Assist with preparation of rate and actuarial memorandums to support rate filing Support experience and rate indication studies to assess rate adequacy Support improvement efforts in order to increase consistency, efficiency, and compliance with internal standards Assist with the development underwriting rating tools and engines Other special projects as assigned

Job Specifications:

Education:

Bachelor's degree in mathematics, actuarial sciences, statistics or related field.

CAS Foundational Requirements:

Two CAS exams preferred

Experience:

0-2 years of related commercial property & casualty experience Knowledge, skills & abilities: Proficient in Microsoft products: Word, Excel, Outlook, Power Point, SQL Knowledge of SAS, R, and data visualization software a plus Strong verbal and written communication skills Ability to be agile and thrive in a dynamic work environment Demonstrate an open-minded, team oriented and collaborative work style

Pay Transparency Statement:

UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $68,000 - $75,000 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data. In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes: Annual incentive compensation Medical, dental, vision & life insurance Accident, critical Illness & short-term disability insurance Retirement plans with employer contributions Generous time-off program Programs designed to support the employee well-being and financial security. This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.