Job Description

COMPANY OVERVIEW:

Founded in 1989, United Automobile Insurance Company is an innovative and established organization looking for an Assistant Product Manager to join our team. Family-owned, UAIC, is one of the largest privately held property and casualty insurance companies in the United States. The key to our growth and success is a commitment to providing quality service to our agents and customers, by providing disciplined underwriting, and strategic claims handling. Our ongoing efforts to invest substantial resources in personnel and technology are the foundation of our promise of assuring maximum efficiency and specialized operations in the industry. We are proud that our independent agents and customers have recognized our dedication by making UAIC the market leader in every state where we conduct business.

SCOPE:

The  Pricing Actuary will primarily focus on  pricing strategy, rate adequacy, and product performance analysis  while providing  secondary support in reserving activities as needed. This role aims to ensure  competitive pricing structures  and  profitable growth across multiple Property & Casualty (P&C) insurance products.

DUTIES :

1.   Pricing Model Development & Management

• Develop, implement, and maintain pricing models for Property & Casualty (P&C) insurance products.
• Ensure pricing aligns with profitability targets, risk appetite, and market conditions.
• Regularly evaluate and refine rate adequacy to optimize product performance.
• Perform scenario analysis and stress testing to measure pricing sensitivities.

2. Product and Portfolio Profitability Analysis

• Conduct in-depth profitability reviews by product line, region, and risk profile.
• Analyze premium adequacy, loss ratio trends, and underwriting performance.
• Recommend rate adjustments and pricing strategy changes based on findings.
• Support the launch of new products by developing initial pricing frameworks.

3. Data Analysis and Predictive Modeling

• Utilize actuarial software tools (e.g., SQL, Python, R, or SAS) to analyze large datasets.
• Develop and apply predictive models to support accurate risk pricing.
• Monitor market trends, competitor pricing, and loss ratio developments.
• Create dynamic dashboards and reporting tools for ongoing monitoring.

4. Strategic Collaboration

• Partner with Underwriting, Claims, Product, and Finance teams to align pricing strategies with business objectives.
• Present actuarial insights and recommendations to senior leadership and key stakeholders.
• Support strategic decision-making with data-driven analysis and forecasting.
• Serve as a subject matter expert for pricing-related regulatory compliance matters.

5. Reserving Assistance (Secondary Responsibility)

• Collaborate with the reserving team on quarterly and annual reserve reviews.
• Assist in analyzing reserve adequacy and loss development trends.
• Contribute insights from pricing analysis to improve reserving assumptions.
• Support regulatory filings and reporting related to reserving practices.

6. Innovation and Continuous Improvement

• Identify opportunities to enhance pricing methodologies and tools.
• Stay updated on industry best practices, regulatory changes, and emerging trends.
• Introduce advanced analytical techniques and tools to improve pricing accuracy.
• Foster a culture of collaboration and knowledge sharing across teams.

7. Reporting and Documentation

• Prepare and deliver actuarial reports, presentations, and documentation for leadership and external stakeholders.
• Ensure clear communication of key findings, risks, and recommendations.
• Maintain documentation for regulatory audits and compliance reviews.

EDUCATION:

• Bachelor’s degree in actuarial science, mathematics, statistics, economics, finance or related field required.
• Master’s degree in actuarial science, applied mathematics, data science or quantitative finance is a plus. 

SKILLS & EXPERIENCE:

• At least 5+ years of actuarial experience in a property & casualty insurance environment.
• Familiarity with insurance products, underwriting principles, and exposure to reserving activities.
• Proven ability to collaborate with cross-functional teams, including Underwriting, Claims Finance.

BENEFITS:

• 401(k) Retirement Savings Plan with employer match.
• Comprehensive Medical, Prescription Drug, Vision, and Dental Insurance
• Paid Time Off, Holidays, and Leave programs.
• Flexible spending accounts
• Basic Life Insurance and Voluntary Life/ADD
• Short Term and Long-Term Disability



UAIC is an Equal Opportunity Employer and is committed to the principle of equal employment opportunity for all employees. All employment decisions at UAIC are based on business needs, job requirements, and individual qualifications, without regard to race, color, religion, or belief, family or parental status, or any other status protected by the laws or regulations in the locations where we operate.

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