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Willis Towers Watson

Willis Towers Watson

P&C Actuarial Director - Commercial Lines Pricing

P&C Actuarial Director - Commercial Lines Pricing

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Job Details
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Uploaded On
November 22, 2023
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Location
Chicago, United States
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Remote?
No
Company Overview
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Headquarters
London, United Kingdom
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Number of Employees
46100
Estimated Number of Actuaries
3331
Salary
$
k-$
k
Glassdoor Ratings
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Recommend to a Friend
77%
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Overall Score
3.9 / 5
Job Description

WTW is looking for an actuarial pricing leader with commercial insurance experience in the U.S. market in both market-facing and home office or product management roles to join as a Property & Casualty (P&C) Director in our Insurance Consulting and Technology (ICT) practice. In this role, you will collaborate with our team of pricing, portfolio management, underwriting, finance and claims experts to sell and deliver actuarial and technology solutions to our commercial insurance clients.

ICT provides a powerful combination of advisory services for insurance companies, integrated with leading-edge technology solutions and software, all underpinned by unparalleled analytical capability. WTW has ambitious growth plans for our North America P&C propositions, especially the Commercial Lines (CL) Pricing, Product, Claims and Underwriting (PPCU). Our goal is to substantially increase our footprint in advising commercial insurance clients on the efficiency and effectiveness of their Underwriting, Pricing, Product Development, Carrier Operations and Distribution and Sales capabilities and to further establish the WTW Pricing Software suite, Underwriting Solutions and Portfolio Management Platforms and Digital Trading solutions as key enablers of change.

This position can be based in a major U.S. Market and is open to remote/virtual work.

Note that visa employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.

The Responsibilities
  • Lead, build, and participate on teams to deliver client projects
  • Identify and pursue potential client engagements, including relationship building, listening to challenges, crafting scope of work, and bringing together the right project team
  • Execute work on client projects such as predictive modeling, model peer reviews, competitive market assessments, regulatory filing strategy engagements, and capabilities benchmarking
  • Leverage expertise in technical and process aspects of actuarial pricing and market knowledge to serve as a subject matter expert
  • Develop a trusted advisor relationship with senior insurance carrier leaders through effective communication
  • Discuss and demonstrate applications of WTW's technology products to clients
  • Contribute to the development of WTW's intellectual capital and future proposition development, including go-to-market strategy
  • Meet billable hour target and revenue goals, operating as a highly respected and effective consultant


Qualifications

The Requirements
  • FCIA/FCAS/FIA[AN1] with at least 12 years P&C large commercial lines insurance experience in the United States
  • Experience leading actuarial pricing strategy for one or multiple products at a national or company level
  • Comprehensive understanding of core P&C commercial lines insurance products
  • Knowledge of North American insurance marketplace and carriers
  • Capable of leveraging past experience and expertise to adapt to current projects and challenges outside of core skill set
  • Comfortable navigating ambiguity and developing innovative solutions
  • Committed to training and mentoring less experienced colleagues
  • Practiced in managing complex projects and delegating work to senior and junior colleagues
  • Available to travel as needed

Nice to Haves
  • Expertise in specialty lines or E&S pricing
  • Experience leading or participating on actuarial or underwriting transformation projects
  • Participation in a rotational training program or exposure to multiple lines of business
  • Professional designation such as CPCU, ARM or RPLU

Compensation and Benefits
Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).

Compensation
The base salary compensation range being offered for this role is $200,000 USD -$260,000 USD. This role is also eligible for an annual short-term incentive bonus.

Company Benefits
WTW provides a competitive benefit package which includes the following (eligibility requirements apply):
  • Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
  • Leave Benefits: Paid Holidays, Annual Paid Time Off (includes paid state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off
  • Retirement Benefits: Contributory Pension Plan and Savings Plan (401k). All Level 38 and more senior roles may also be eligible for non-qualified Deferred Compensation and Deferred Savings Plans.

At WTW, we trust you to know your work and the people, tools and environment you need to be successful. The majority of our colleagues work in a "hybrid" style, with a mix of remote, in-person and in-office interactions dependent on the needs of the team, role and clients. Our flexibility is rooted in trust and "hybrid" is not a one-size-fits-all solution.

We understand flexibility is key to supporting an inclusive and diverse workforce and so we encourage requests for all types of flexible working as well as location-based arrangements. Please speak to your recruiter to discuss more.

EOE, including disability/vets
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Working at 

Willis Towers Watson

Willis Towers Watson is a global professional services company that specializes in risk management and insurance. The company was formed in 2016 through the merger of Willis Group and Towers Watson, two well-known and respected firms in the industry. Willis Towers Watson offers a range of insurance products and risk management services to help businesses and organizations identify and mitigate potential risks. The company has a strong reputation for customer service and is known for its expertise in serving the diverse needs of its clients. In addition to traditional insurance products, Willis Towers Watson also offers innovative risk management solutions and consulting services to help clients navigate the complex and rapidly-changing world of risk. The company has a global presence, with operations in numerous countries around the world.