Commercial Lead Actuary - MSI

Millennial Specialty Insurance, LLC is one of the largest non-carrier-affiliated Managing General Agencies (MGAs) in the United States. Combining expert underwriting with industry-leading technology, MSI creates a superior insurance experience for carriers, distribution partners, and customers. MSI collaborates with insurance carriers to design and distribute products through agents, brokers, and technology partners. Founded in 2015, MSI has grown to offer a wide range of insurance products across commercial, specialty, and personal lines. In 2019, MSI joined BRP Group, Inc. (NASDAQ: BRP).
We are seeking a skilled and detail-oriented Lead Actuary to join our team, focusing on Commercial Lines and other Emerging Lines of business. The ideal candidate will play a pivotal role in developing and refining pricing models, performing risk analysis, and collaborating with reinsurance and underwriting teams. You will be responsible for ensuring that pricing strategies align with the company's objectives, regulatory requirements, and market conditions. This is an exciting opportunity to contribute to the growth and expansion of our organization, with the potential to expand into new product lines and enhance the capabilities of our Actuarial team.

Key Responsibilities:

As a Lead Actuary, you will support the business across the following areas:

• Pricing Model Development:
  Develop, refine, and maintain sophisticated pricing models for commercial lines, including exposure rating and loss cost analysis. Ensure the models are accurate and reflect current market dynamics.
• Segmentation Review:
  Conduct in-depth segmentation reviews to improve the marketability and competitiveness of the programs. Leverage data-driven insights to optimize pricing structures.
• Experience Studies:
  Perform comprehensive experience studies to project loss ratios and develop the indications. Analyze historical loss data and trends, adjusting rates, limits, and terms based on experience and industry data.
• Product Development & Filing Support:
  Collaborate closely with business partners to revise rates and rules. Support the rate filing process, ensuring timely and accurate submissions to state insurance departments. Coordinate responses to regulatory inquiries and implement approved changes.
• Reporting & Presentations:
  Present complex actuarial findings, pricing recommendations, and trends to senior management and key stakeholders. Simplify and communicate complex actuarial concepts to non-technical audiences, ensuring alignment with business goals.
• Ad-hoc Analysis & Strategic Initiatives:
  Provide actuarial expertise for special projects, strategic initiatives, and ad-hoc requests assisting with carrier-side and reinsurance-side marketing efforts.

Qualifications:

• Education: Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field. Actuarial designation (ACAS or equivalent) required; FCAS or equivalent preferred.
• Experience: 5+ years of actuarial experience with a focus on commercial insurance, particularly Umbrella and Commercial Habitational lines pricing. Strong experience in pricing, risk analysis, and product development.
• Skills:
  • Proficiency in actuarial software (e.g., SAS, R, Excel, SQL) and pricing tools.
  • Expertise in loss cost analysis, segmentation review, and pricing model development.
  • In-depth knowledge of commercial insurance lines, including underwriting and regulatory processes.
  • Strong analytical skills, with the ability to analyze complex data and make sound actuarial decisions.
  • Experience with regulatory filing processes and state insurance department interactions.
  • Excellent communication skills to present and explain actuarial findings to senior management and non-technical stakeholders.

Personal Attributes:

• Ability to work independently and collaborate across cross-functional teams.
• Detail-oriented with a proactive approach to identifying areas for pricing improvement.
• Strong leadership and mentoring skills, with the ability to guide junior actuaries and team members.
• Strategic mindset with a focus on both long-term profitability and market competitiveness.

#LI-JW1

#LI-REMOTE

Click here for some insight into our culture!

The Baldwin Group will not accept unsolicited resumes from any source other than directly from a candidate who applies on our career site. Any unsolicited resumes sent to The Baldwin Group, including unsolicited resumes sent via any source from an Agency, will not be considered and are not subject to any fees for any placement resulting from the receipt of an unsolicited resume.