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Sr. Actuarial Officer

Insurance analytics, including development of predictive models for Homeowners insurance that identify profitable/unprofitable risks and enhance our ability to match rate to risk

Chubb Group of Insurance Companies Company: Chubb Group of Insurance Companies
Location: Whitehouse Station, NJ
Web: www.chubb.com

_Contact_: Apply online

For more than 125 years, the Chubb Group of Insurance Companies has been delivering exceptional property and casualty insurance products and services to businesses and individuals around the world.

Today, we are the 11th largest property and casualty insurer in the United States and have a worldwide network of some 120 offices in 27 countries staffed by 10,400 employees. The Chubb Corporation reported $48 billion in assets and $13.2 billion in revenues in 2008. According to Fortune magazine, Chubb is the 203rd largest U.S.-based corporation. The magazine also includes Chubb in its list of "America's Most Admired Companies." Forbes listed Chubb as one of America's 400 Best Big Companies.

The Chubb Personal Insurance (CPI) segment offers products for individuals with large homes and valuable possessions. Check out our references!

We insure 258 of the top 500 CEO's (52%) in the U.S. as rated in Forbes.com by compensation. We insure more than 60% of the Forbes 400 wealthiest people in the U.S. We insure 60% of the U.S. collectors listed in ArtNews' Top 200 World Collectors. We insure approximately 1,500 homes in the U.S. with values over $5,000,000.

Chubb has maintained its reputation and financial stability with underwriting expertise, unparalleled customer service, unique industry-specific specialization and a deep respect for all of our employees.

Currently, Chubb is seeking a Senior Actuarial Officer/Statistician in the Predictive Modeling Group within Chubb Personal Insurance (CPI) Actuarial department.

This group is responsible for developing predictive models to support underwriting and pricing of the Auto and Home lines of business within CPI for Chubb to sustain profitability and maintain a competitive position within the personal lines (Homeowners, Automobile) insurance market.

The major duties and responsibilities of this position include:

  • Develop predictive models for Auto / Homeowners insurance that identify profitable/unprofitable risks and enhance our ability to match rate to risk.
  • Lead efforts to brainstorm and generate variables from both internal and external data sources.
  • Provide business partners with strategic planning information and analysis, and assists in the development of junior staff members
  • Develop data specifications for the modeling efforts. Partner with CPI IT to ensure data is extracted in accordance with specifications.
  • Provide business support to CPI IT in the design and testing of the scoring engine, and other aspects of model implementation.
  • Leverage the predictive model information to design reports to measure emerging trends and underwriter performance.
  • Lead efforts to recalibrate the predictive models every 12 to 36 months.
  • Create and maintain documentation associated with the programs and applications developed.
  • Lead post-implementation reviews of the application development process to learn and share best practices.
Competencies/Tech Skills:
  • Minimum of three years of practical experience using statistical analysis techniques and building predictive models.
  • Candidate must possess in-depth knowledge of multivariate statistical methods / data mining techniques including but not limited to Generalized Linear Models, linear and logistic regression, decision trees, time series, survival analysis, rule induction/machine learning, clustering and segmentation, etc.
  • Strong knowledge of SAS is required - Certified SAS programmer a plus (BASE, Stat, SQL, Macro Language, Output Delivery System (ODS), STAT, Graph, ETS)
  • Experience building models with different types of statistical distributions (i.e. Poisson including Zero-Inflated, Tweedie, Gamma, Exponential, Normal, etc.)
  • Experience querying relational databases
  • Candidate must possess excellent data preparation and management skills
  • Knowledge of statistical software other than SAS is a plus (R/Splus, SPSS, etc.)
  • Proficient in Microsoft Excel. Access & VBA is a plus.
  • Strong analytical skills.
  • Strong organizational skills.
  • Effective written and oral communication skills.
  • Responsive to service needs and operational demands.
  • Produces accurate work products in a timely manner.
  • Self-confident and objective.
  • Experience in insurance and/or actuarial work is considered a plus, but not mandatory.
  • Minimum of a Masters Degree in Statistics or related field
  • PHD in statistics or related field is preferred.
Chubb prides itself on the ability to provide all employees with an extraordinary work environment which promotes teamwork, diversity and incentives for those who exceed expectations. Chubb has been recognized as one of the top 50 companies for diversity by DiversityInc magazine, one of America's most admired companies by Forbes, and one of the top 100 companies to work for by Fortune.

Chubb's compensation and benefit plans work together to create a Total Rewards Program for our employees that is among the best in our industry. As a global organization, we work hard to achieve our goal of providing flexible and competitive compensation and benefits packages in each local market in which we operate. Our goal is to exceed average market practices for our performers. For more information about Chubb and our benefits, visit our website at www.chubb.com.

_Contact_: Apply online

Chubb & Son, Inc., a division of Federal Insurance Company, does not accept resumes from unsolicited third party agencies or recruiters. No fees will be paid to third parties who submit unsolicited candidates in this manner

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