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Pricing Analyst

Company: American Access Casualty Company
Location: Downers Grove
Posted on: March 19, 2020

Job Description:

As a member of the Pricing Department, the Pricing Analyst contributes to the process of rate making, product development and reserving for all non-standard auto products. The Pricing Analyst works under the supervision of the Pricing Director to guide growth and profitability to meet or exceed budget.Essential Functions:

Conduct profitability analysis of book of business and recommend pricing actions based on segment performance.Conduct rate reviews using internal and external data sources and develop sound recommendations based on actuarial and economic indications.Support Pricing Director in periodic reserve reviews.Source of in depth knowledge of the company's products and market conditions for non-standard auto insurance in assigned state(s).Participate in the achievement of a business plan for non-standard auto products, including premium plan, combined ratio performance, production parameters, competitive environment, competitor details, regulatory environment/developments, demographics, etc.Perform ongoing analysis of company and competitor pricing and premium volume.Contribute to and develop ad-hoc assignments with respect to claims analytics. Collaborate with Marketing, Underwriting, IT and Claims to align interests and manage the performance of assigned state(s).Communicate with state DOI personnel to achieve approval of rate/rule filings.Maintain organized records of rates, rule and form filings. Maintain in depth knowledge of company and 3rd Party systems used to rate or sell the company's products.Independently manage projects; understand business objectives as they relate to project goals.Other Responsibilities:
Collaborate with the Pricing Director to identify improvements in the pricing model and rating platforms of all non-standard auto products.Participate in complex, large-scale, and highly specialized projects that support rate reviews, product development, pricing strategy, underwriting and claims.Manage complex data gathering, reporting and analysis. Identify the need for and drives the development of new tools and processes within the department.Qualifications:
Bachelor's degree in mathematics, statistics, actuarial science, economics, data analytics, finance, or other quantitative field; Master's or advanced degree preferred. Experience in pricing, actuarial or product functions for personal lines insurance is a plus.Must have strong mathematical skills and the ability find answers to business questions in large data sets.Must be self-motivated, organized and able to meet deadlines with assignments.Analytical and problem solving skills with proven ability to make data driven decisions; proficient in data analysis software (e.g., Excel, R, SQL).Experience developing and presenting recommendations related to product/pricing actions.Advanced spreadsheet and database skills.Must be a good communicator and listener.Ability to foster and encourage teamwork and productive working relationships with stakeholders at all levels and across organizational lines; ability to coach and mentor less experiences staff to help them achieve individual expectations and deliverables.Benefits to Full Time Employees:
Generous paid time off packageMedical & Dental Plans401(k) Retirement Plan with employer matchCompany paid STD/LTDCompany paid life insuranceAbout American Access Casualty Company:American Access Casualty Company (AACC) is a fast-growing, highly successful private passenger automobile insurance company located in the western suburbs of Chicago. We're 'driven to do the right thing at every turn'. We're proud of the values that we hold dear. We believe these values are what separates us from the competition, and what allows us to best serve all of our customers and business partners.WeSTRIVEevery day to live these values.Service Going the extra mile for our teams and customers no matter the obstacles Teamwork Bringing out the best in each other and knowing how our role impacts others Respect Walking in each other's shoes to appreciate their perspective Integrity Delivering on our promises without shortcuts Vision Seeing a better future through innovation Excellence Knowing that good enough is not enough

Keywords: American Access Casualty Company, Downers Grove , Pricing Analyst, Professions , Downers Grove, Illinois

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