Assistant Actuary at Chubb in Whitehouse Station, New Jersey

Job Description:

Chubb is the world’s largest publicly traded property and casualty insurer. 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.

The position will be based in Whitehouse Station NJ and provide rating plan support for Property and GL products (primarily Benchmarq and BOP) within Chubb’s Commercial Insurance Division (CI), a provider of insurance to small and middle market companies.

MAJOR DUTIES & RESPONSIBILITIES:                                                                                                                                                                  

• Collaborate with other areas of Commercial Insurance (ex: Product Management, Underwriting, Field Sales, I/T, Finance, etc.) to support the introduction of new CI product offerings, as well as enhancements to existing products and systems.


• Develop analytical tools, detailed data queries and performance reports to monitor portfolio performance and achieve growth and profit targets for the division. 


• Propose detailed rate level changes on a state by state basis to help achieve strategic objectives. 


• Quantify impacts of rate change proposals and communicate findings to management via clearly laid out reports, presentations and exhibits.  Leverage tools such as Radar to enable more comprehensive and granular rating analyses.


• Review predictive model outputs for reasonability and validity.  Partner with Chubb Global Analytics practice and I/T to incorporate findings into CI Pricing, Underwriting, Operations, etc.


• Review rate level adequacy and craft filing documents to submit rating and pricing model revisions to state departments of insurance.

MINIMUM REQUIREMENTS:

• Five years of insurance industry experience; preferably in pricing or predictive modeling.


• ACAS; FCAS preferred.


• Bachelor’s or Masters degree in Actuarial Science, Mathematics, Statistics, Finance or similar technical discipline.


• Demonstrated ability to learn and apply intermediate programming skills for the production of analytical datasets and reports from source system databases using SQL, Python, R or comparable software.


• Strong analytical skills with the ability to provide clear and concise verbal and written communications of analyses, financial results, and work products.


• Excellent organizational skills along with the ability to maintain adequate documentation and record keeping.

Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. 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, religion, age, sex, sexual orientation, transgender, national origin, disability, genetic information, veteran or marital status, or any other characteristic protected by law.                                           

For additional information about Chubb or its services, please visit our website at chubb.com.