Manager, Actuarial Associate (Pricing) at Hippo Insurance
Location: Austin, TX / Bedminster, NJ
Title: Manager, Actuarial Associate (Pricing)
Reporting to: Chief Actuary
Hippo is modernizing home insurance by putting customers at the center of everything we do. Using innovative technology and a data-driven approach, we strive to provide homeowners with the best policies, best value, and best customer service in the industry. And as if that wasn’t enough, it’s really just the beginning. Hippo’s true ambition lies in helping prevent people from experiencing problems with their homes, to begin with. Because, at the end of the day, the best home insurance policy is the one you never have to use.
About the Role:
The Pricing and Actuarial Analytics department is responsible for the organization's profitability. They own the rate indications and filings. They work closely with Sales, Marketing and Insurance Product to identify and prioritize issues and opportunities and to develop and implement solutions. They will evaluate how to incorporate new data into our analyses and rating plans.
The ideal candidate is an actuary who brings a combination of industry knowledge, business insight and technical skills with you. You are comfortable working in contexts with both extensive and limited data availability, prepared to take a view even when the perfect answer is not yet available. You synthesize complex information to provide meaningful and understandable insight to others, and grasp business needs and opportunities. You are interested in exploring innovative actuarial rating methods and ways of improving model parameterization, and you are curious, open-minded, inclusive and externally networked across your industry to pursue new ideas.
You question current paradigms to generate new insights that strive for improvement. You will communicate clearly and simply – even when dealing with complicated problems and ideas – and do so both orally and in writing. When interacting with colleagues of every level of seniority and experience, you are empathetic and sensitive, and adjust your communication style to meet the needs of others.
You build broad networks of colleagues with strong interpersonal relationships. The ideal candidate will have an open-minded, intellectually curious approach to everything you do; and is likely someone who is continually learning from a variety of sources. Our expectation is working independently, problem-solving issues, and bringing fresh ideas for improvements to the team.
What You’ll Do:
- Identify top down and bottoms up opportunities and strategies to drive profitable growth, recommend state level rate changes, and present recommended changes on behalf of the insurance product team at the pricing committee
- Own the countrywide and state loss ratio indications, loss ratio forecasts, and target loss ratios
- Develop a consistent framework to monitor, report on, and diagnose frequency, severity, and premium trends both at a countrywide and state level – leveraging work and insight from actuarial, claims, and underwriters
- Quantify the gap to target loss ratio and loss ratio impact of cross functional initiatives, such as underwriting initiatives and claims initiatives
- Work with modeling & filing actuaries to build business simulations and scenario tests to measure expected changes to conversion, retention, and premium based on price changes and demand elasticity
- Integrate demand and lifetime value economics into our ratemaking and product tool kit
- Develop proactive relationships with underwriting, finance, sales, marketing, growth, smart home, tech product, and leadership to translate insurance product analytics into visible and actionable work
- Support our modeling actuaries, product managers, and filing actuaries to deliver recommended pricing factor changes and other product modifications
- Gather competitive and granular pricing intelligence regularly and integrate into our rate & product decision making to inform base rate calibrations and pricing model factor selections
- Working with marketing, growth, smart home, and sales teams to identify pockets of risks and segments to focus and pilot initiatives
- 7-10 years experience (1-2 years of manager experience preferred)
- FCAS or near FCAS.
- Professional experience using SQL, R, and Python is preferred
- Pricing or reserving experience preferred
- Excellent communication and interpersonal skills, allowing effective interaction with colleagues and executives
- Demonstrated ability to use analytics & collaboration to drive profitable growth
Nice to Haves:
- Sensitive to model transparency/ethics
- Broad understanding of predictive modeling concepts, including supervised and unsupervised machine-learning approaches
- Experience with database query languages and tools
- Analytical, with a strong ability to identify trends, communicate results, and take action
Compensation and Perks
- Healthy Hippos Benefits- 100% Employer paid medical, dental & vision plan options for our team members AND their families (yes, you read that correctly). As well as 401K, long & short term disability, EAP and flexible spending accounts.
- Flexible Paid Time Off- Uncapped PTO (with manager approval)
- Hippo Habitat - Fast-paced, close-knit, office located in Bedminster, NJ; Beautiful, historic offices in downtown Austin at the corner of 6th & Congress. We also offer commuter benefits including free parking pass. Stocked kitchen and BBQ Friday’s for all!
Hippo is an equal opportunity employer, and we are committed to building a team culture that celebrates diversity and inclusion.
Hippo’s applicants are considered solely based on their qualifications, without regard to an applicant’s disability or need for accommodation. Any Hippo applicant who requires reasonable accommodations during the application process should contact the Hippo’s People Team to make the need for an accommodation known.