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Berkley Prime Transportation (BPT) is looking for an energetic, self-starting student actuary to assist the actuarial team with all phases of responsibilities including pricing, loss reserving, model building and data science. BPT is a newly-formed company that is focused on technology and data science to deliver best in class products and financial results to its insureds and stakeholders. This role requires the ability to grasp difficult concepts and execute within them independently. This is a do-it-all, high-visibility opportunity for a well-spoken, hardworking and confident actuarial student. BPT’s Actuarial Department is a small and well-seasoned team. The successful candidate will be entitled to access the company’s actuarial study program.
- Assist the Actuarial Department in all aspects of responsibilities including:
- Manage statistical reports including: regular business monitoring, ad hoc, and corporate oversight.
- Perform regular assessments of state rate level needs. Assist with state rate filing activity including support documentation and rate justification as needed.
- Support the company’s quarterly reserve review analysis and financial reporting. Assist with the monthly financial IBNR booking.
- Perform competitor and industry reviews to help BPT stay current on changes within the marketplace.
- Provide reviews of changes in claim frequency and severity impacting the company.
- Assist with the effort to develop templates and processes to facilitate actuarial analysis.
- Play an active role in development and maintenance of actuarial tools and models.
- Assist other departments within BPT where the actuarial toolset can be a useful resource.
Our Assistant Underwriters provide excellent customer service, clerical assistance, support, and assistance to the Underwriting staff, Brokers, and Managing General Agents.
Overall Responsibilities include but are not limited to:
- Collect data, review, analyze, and rate new and renewal business (all states, multi-line) to provide a work up for the Underwriter
- Navigate in rating and issuance systems for Truck business (all states, multi-line)
- Issue policies in policy issuance system before the end of each month
- Review policies to ensure they are issued based upon the terms and conditions outlined by the Underwriter
- Examine and evaluate documents including declarations, applications, signed forms, MVRs, and all amendments to policies to ensure compliance with established company underwriting guidelines
- Interpret and analyze underwriting manuals/guidelines, rating manuals, forms, and workflows for commercial lines business
- Maintain knowledge of technical underwriting process and/or research information if needed; participate in ongoing training as necessary
- Handle various requests and/or inquiries from General Agents, Retailers, Insureds and/or Underwriters through phone, in person, and written correspondence
- Provide routine servicing of policies as needs arise including drafting of endorsements
- Order various underwriting reports to compile data for the Underwriters
- Inform Underwriters of any underwriting issues immediately
- Perform administrative duties for the department including writing reports and business correspondence
- Meet with new agents for training; may include attending lunches or dinners off-site
- Provide back-up services for others in the department