We are seeking an Actuarial Director to lead Thimble in the development, implementation and offering of new insurance products to a wider and more diverse customer base, and to own the pricing of our insurance products across our organization.
Roles and Responsibilities
- Primary actuarial support for Thimble Insurance Services, our general agency.
- Provide leadership, vision, and direction to:
- Drive pricing decisions including the advancement and execution of pricing tools and trend analyses. Work closely and cross-functionally with the Product Team which has responsibility for implementation of products and the User Experience across our app, web, APIs, and broker platforms.
- Mastermind pricing of new products and coverages, including cutting-edge products with limited or no historical experience, performance monitoring, and trend analysis.
- Work with the Leadership Team and the Finance Team, to play a key role in the production of the Thimble Operating Plan.
- Propose and introduce changes or improvements that promote profitability and growth and take an active role in the implementation of these changes including defense to state regulators and reinsurers.
- Communicate results analysis, and recommendations in a manner that is understandable and allows management to make operational changes where necessary with efficacy.
- Provide strategic and operational planning advice including monthly and quarterly reporting to the Leadership Team, assessment of profit and financial performance and front-line risk management for Thimble business segments.
- Develop and defend filings for regulators and defend them to regulators and capital partners.
- Develop materials /reports for insurance and reinsurance risk capital partners and regulators.
- Represent Thimble to underwriting executives and senior actuaries at various partner organizations.
- Be relentlessly creative in the pursuit of new ways of pricing and structuring risk products for modern businesses.
- Bachelor’s Degree.
- FCAS or strong actuarial background required. 10+ years insurance P&C experience with at least 5 years’ experience in commercial lines.
- Proactive individual who challenges existing processes, can influence others (including regulators) and drive a process to conclusions while meeting critical deadlines.
- Independent thinker as well as challenger/advocate ensuring soundness of pricing and underwriting.
- Drive to deliver results and strive for continuous improvement.
- Ability to work well and respectfully with others, with minimal supervision and in a very fast-paced environment.
- Ability to effectively manage multiple projects, prioritizing high impact ones.
- Ability to make decisions quickly and decisively, thinking and acting strategically, planning for the long-term while balancing short-term needs of the organization.
- Exceptional written and oral communication skills.
- Creative problem solving, organizational, and planning skills.
- Exceptional analytical and critical thinking skills with ruthless attention to detail.
What You’ll Do in 30 Days:
- Understand Thimble’s product set and roadmap.
- Take ownership of Thimble’s pricing initiatives.
- Complete Pricing Review & Analysis (Delta from Current Filing and Justification for Competitive Positioning).
- Understand Thimble’s Parametric BI offering.
- Understand Thimble’s content/SEO strategy and the Insurance Team’s role in it.
- Understand Thimble’s designated producer strategy.
- Digest company performance and customer data to date and training on Thimble’s data infrastructure.
- Review data dump including all team presentations, Board presentations, filings, PAA agreements, carrier presentations, and product documentation.
- Understand Thimble’s claims process and future.
- Understand organization, 2020 plan, and the insurance challenges.
- Understand Carrier and reinsurer guidelines as they have been presented to us.
- Carrier Partner pricing and rate/rule filing work for four lines of business.
What You’ll Do in 60 Days:
- Understand Thimble’s financial model and insurance impact/budget.
- Understand Thimble’s Business Development strategy (especially broker strategy) and impact of Thimble’s Business Development on insurance roadmap.
- Assist in development of event offering in the GL and IM LOBs.
- Assist in development of commercial property insurance product.
- Assist in the development of automobile insurance products, including hired/non-owned auto product.
- Develop pricing and rating processes in coordination with Product Team.
- Meet virtually with key partners for introductions.
- Streamline process for getting appropriate rates and rules into system.
What you’ll do in 90 days:
- Contribute to assure strategic projects and goals are on plan and suggest modifications, if required.
- Contribute to assure that the 2020 Product Plan is on target and completed.
- Contribute to plan for investigation of new products for 2021-2022 and beyond.
- Assist in pricing of 3rd Party Cyber product offering.
- Assist in pricing of Workers Compensation product offering.
- Comprehensive health, vision, and dental coverage.
- 20 days paid vacation plus company-wide holidays.
- Ability to work remotely.
- Company computer hardware of your choice and a generous contribution to your remote office.
- Virtual trivia and field trips.
- Competitive pay.
- Generous stock options.