Job Description

AVP & Actuary - Commercial P&C Rating Algorithm Testing & Automation

Chubb Digital Commercial is seeking a highly skilled and detail-oriented AVP & Actuary to join our team, specializing in the testing, validation, and testing automation of rating algorithms for Business Owners Policy (BOP), Workers' Compensation, Umbrella, and Commercial Auto. The ideal candidate will have a strong background in Admitted Commercial P&C insurance pricing, with a focus on ensuring the accuracy and compliance of filed insurance rating algorithms. This role requires a deep understanding of insurance products, regulatory requirements, and advanced analytical techniques, as well as experience in developing automated testing frameworks.

Key Responsibilities

Rating Algorithm Testing & Validation:

• Develop and execute comprehensive testing plans to validate rating algorithms for BOP, WC, Umbrella, and Commercial Auto insurance products.
• Analyze testing results to identify discrepancies in implemented rating algorithms and rate filings
• Ensure algorithms are accurate, compliant, and aligned with business objectives

Automated Testing Framework Development:

• Design, develop, and implement automated testing frameworks to streamline the validation of implemented rating algorithms.
• Create scripts and tools to automate data validation and rating algorithm testing
• Continuously improve and maintain automated testing processes to enhance efficiency and accuracy

Regulatory Compliance

• Ensure all rating algorithms comply with state regulations, including rate filings and compliance requirements.
• Stay updated on regulatory changes and industry trends that may impact rating algorithms

Collaboration:

• Work closely with cross-functional teams, including actuarial, underwriting, product development, portfolio management and implementation, to ensure seamless and accurate implementation of rating algorithms.
• Provide training and support to junior actuarial staff on rating algorithm testing methodologies and automation tools.

Continuous Improvement:

• Conduct industry research to identify opportunities to enhance existing rating algorithms
• Recommend improvements to data collection, modeling techniques, and testing processes.
• Stay abreast of emerging technologies and best practices in automated testing

Qualifications

Education:

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, Computer Science, or a related field.
• Associate or Fellow of the Casualty Actuarial Society (ACAS/FCAS) preferred.

Experience:

• 6+ years of experience in actuarial roles, with a focus on Commercial P&C insurance pricing and rating algorithms; Experience in an admitted insurance setting preferred
• Proven experience testing and validating rating algorithms
• Experience in developing and implementing automated testing frameworks
• Experience working with policy administration & rating systems (Duck Creek, Insurity, Guidewire, WTW Radar, Ratabase, etc)

Technical Skills:

• Proficiency in Python
• Advanced Excel skills and experience with SQL or other database querying languages
• Familiarity with machine learning techniques and predictive modeling is a plus
• Experience with automation tools and scripting languages
• Strong analytical and problem-solving skills
• Excellent communication and presentation abilities
• Ability to work independently and as part of a team in a fast-paced environment

Location: Jersey City, NJ; Philadelphia PA; Whitehouse Station, NJ; Other Chubb Offices in the US.

About Us

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.