Actuarial Analyst with P&C Experience

Who is Farmers Insurance Group?

 

The Farmers Insurance Group of Companies was founded in 1928 when Farmers Insurance Exchange, an automobile insurer, was formed. As customer demand for additional insurance services increased, the Fire Insurance Exchange and Truck Insurance Exchange were established for home and commercial insurance needs. Today, the Farmers Insurance Group of Companies is the country's third-largest writer of both private passenger automobile and homeowners insurance.

 

Farmers Insurance Group of Companies is based in Los Angeles, California, and operates in 41 states across the country through the efforts of approximately 18,000 employees. Our agents, independent contractors and independent agents, along with Farmers employees, are responsible for servicing more than 15 million customers.

 

What makes Farmers Insurance Group a great company?

 

The Farmers Insurance Group of Companies is widely respected and well-established with over 75 years of experience. We pride ourselves on the positive impact we have on our community, as an insurance and financial services organization and as an employer.

 

As a Farmers employee, you will be given key training in top industry methods, support for continued education, and plenty of opportunity for growth. Our employees are rewarded with great benefits, bonus programs, company-sponsored pension plans, and profit sharing.

 

Whether you are a successful professional with an established career or a new job seeker looking for that first opportunity, the time to take charge of your future is now! 

 

Where would I be located?

 

Los Angeles, mid Wilshire District

 

What are the basics?

 

Under general direction, assists in the actuarial analysis of the company's pricing posture and the development of rate level recommendations to department management. Substantial knowledge of insurance principles and rate-making concepts required. Knowledge of the functions of various departments such as financial, underwriting, Legal, Stats, Claims, Sales, and policy writing are required.

 

How would I spend most of my time?

 

The Actuarial Analyst spends time on the following:

? market research and analysis by travel to customer locations, by phone and in office

? customer research

? quantitative experience analysis from large policy and claims databases

? pricing

? trend and inflation analysis

? forecasting and planning

? proposing, funding and guiding large projects

? localized strategic and tactical planning / execution

? identifying implementation requirements

? creating metrics, measuring and publishing results

? detailed instruction, coordination and review of IT work

? research and identification of opportunities in internal procedures, processes, and people

? presentation of strategy to actuarial groups, senior management and customers

What are the primary challenges?

 

This position requires extraordinary analytical or quantitative aptitude.  You must have the ability to translate a technical analysis to consumers and distributors in such a way that they are inspired to act. You must enjoy a high pressure environment and be able to influence action and results in a large, complex organization. You must have the intellectual curiosity necessary to be a thought leader. You should have the intellectual curiosity, intelligence and energy to seek answers when none are delivered to you.

 

What opportunities lie ahead?

 

In this role, there is an extraordinary potential for moving into product management.  Every candidate considered must possess a potential for moving up in the organization.  Because of the direct relationship to product teams, there is a high degree of visibility which, for the right individual, can translate into a true career path to success in either Actuarial Services or Product Management.

 

What qualities and traits do I need to possess that are the key success factors?

 

Personal responsibility for outcomes that may not be under your control or direction

Academic-level curiosity about new ideas in an old industry

Positive attitude and the ability to instill it in others even when faced with difficult obstacles, issues or challenges

Emotional Intelligence and a sound level of business acumen and good judgment

Attention to detail and accuracy ? and strong follow thru in ensuring those standards are met

A love of numbers and an affinity for crunching them

Quantitative analysis appreciation and enjoyment

 

What knowledge, skills, and experiences do I need to qualify?

 

? Undergrad degree required, advanced degree welcomed (math/stats masters)

? 1-3 years exp. in professional enviroment with a P&C insurance company preferred

? Requires the successful completion of at least one of the actuarial exams jointly administered by the Casualty Actuarial Society and the Society of Actuaries.

? Knowledge of SAS and statistical modeling methods is preferred.

? Proficiency with MS Office, especially Excel required

? Knowledge of database programs such as Access preferred.

? Experience completing high impact projects effectively and efficiently

? Must demonstrate emotional intelligence

? Must enjoy working with others both individually and in teams

? Demonstrate exceptional analytical skills

? Public speaking / presentation skills (one-on-one and small-to-large groups)

? Excellent, forthcoming personal and business references

 

What is in it for me?

 

Pay is competitive and depends on experience, exams and education, plus 15 to 20% long-term incentive pay along with extraordinary benefits including health/medical/dental/vision, life/AD&D insurance, PTO including sick/vacation/holiday/personal time off, employer-funded profit sharing plans, tuition aid, and credit union services.

What is the best way to apply?

 

Send your resume direct to chrisleesmith@lee-smithconsulting.com .  Please include ?Actuarial Analyst ? LA? in subject line for quickest response.

 

Farmers is an equal opportunity employer, committed to the strength of a diverse workforce.