Capgemini is seeking a highly motivated and detail-oriented Actuarial Analyst for a top 10 US Insurance Carrier.
The role function includes updating excel files with monthly data and making appropriate loss and expenses selections based on multiple Actuarial methodologies, using primarily loss development triangles. In addition annual and quarterly analysis is done which involved running data from data warehouses and doing Actuarial analysis to further determine appropriate reserves by state and coverage. We work closely with Accounting, Pricing and Finance and regularly communicate with these groups.
Our Client is one of the United States’ largest insurers, providing a wide range of insurance and financial services products with gross written premium well over US$25 Billion (P&C). They proudly serve more than 10 million U.S. households with more than 19 million individual policies across all 50 states through the efforts of over 48,000 exclusive and independent agents and nearly 18,500 employees. Finally, our Client is part of one the largest Insurance Groups in the world.
Responsibilities
- Apply concepts of economics and financial mathematics to calculate present and accumulated values for various streams of cash flows, utilized in reserving, valuation, pricing, asset/liability management, investment income, capital budgeting, and valuing contingent cash flows.
- Understand and navigate the operational structure of an insurance company, including the interplay between functions such as actuarial, accounting, claims, finance, product management, underwriting, marketing, and regulatory/legislative affairs.
- Apply knowledge of ratemaking and estimating to effectively establish reserves.
- Ensure accurate financial reporting by applying knowledge of insurance legislation and regulation.
- Utilize appropriate tools and techniques to model processes, estimate loss costs, reserve liabilities, and support risk management decisions.
Total Work Experience
- Minimum Required: 1-3 years
Work Experience in This Field
- Minimum Required: 1-3 years
English Proficiency
- Minimum Required: Fluent
Required Education
- Minimum Required: Bachelor's Degree
Required Branch of Study
- Actuarial / In addition to Actuarial, computer science or data science would be beneficial
Other Critical Skills:
- Management Reporting: Entry Level
- Data Management: Intermediate
- Economics and Financial Mathematics: Applies concepts of economics and financial mathmatics to calculate present and accumulated values for various streams of cash flows as a basis for future use in: reserving, valuation, pricing, asset/liability management, investment income, capital budgeting, and valuing contingent cash flows Applies knowledge of investments and financial markets in an insurance context.
- Ratemaking and Estimating Claim Liabilities: Applies knowledge of ratemaking and estimating to effectively price insurance contracts and/or set up reserves.
- Statistics and Actuarial Modeling: Uses appropriate tools and techniques to model processes to estimate loss costs, reserve liabilities and facilitate risk management decisions
Software / Tool Skills/Schedule:
- SAS: Intermediate
- SQL: Intermediate
- Excel: Intermediate
- Office Suite - Intermediate
Competitive compensation and benefits package:
- Competitive salary and performance-based bonuses
- Comprehensive benefits package
- Career development and training opportunities
- Flexible work arrangements (remote and/or office-based)
- Dynamic and inclusive work culture within a globally renowned group
- Private Health Insurance
- Pension Plan
- Paid Time Off
- Training & Development
Note: Benefits differ based on employee level.
About Capgemini
Capgemini is a global leader in partnering with companies to transform and manage their business by harnessing the power of technology. The Group is guided everyday by its purpose of unleashing human energy through technology for an inclusive and sustainable future. It is a responsible and diverse organization of over 340,000 team members in more than 50 countries. With its strong 55-year heritage and deep industry expertise, Capgemini is trusted by its clients to address the entire breadth of their business needs, from strategy and design to operations, fueled by the fast evolving and innovative world of cloud, data, AI, connectivity, software, digital engineering and platforms. The Group €22.5 billion in revenues in 2023.
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What We Do
Capgemini is a global leader in partnering with companies to transform and manage their business by harnessing the power of technology. The Group is guided everyday by its purpose of unleashing human energy through technology for an inclusive and sustainable future. It is a responsible and diverse organization of 270,000 team members in nearly 50 countries. With its strong 50 year heritage and deep industry expertise, Capgemini is trusted by its clients to address the entire breadth of their business needs, from strategy and design to operations, fueled by the fast evolving and innovative world of cloud, data, AI, connectivity, software, digital engineering and platforms. The Group reported in 2020 global revenues of €16 billion.
