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Sr. Consultant Actuarial & Analytics

Hartford, Connecticut

Who Are We?

Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 160 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$80,800.00 - $133,300.00

Target Openings

1

What Is the Opportunity?

In Business Insurance Actuarial and Analytics, we deliver tailored analytics and innovative data science solutions that influence decisions and enable superior results. We have an inclusive culture where everyone feels that they belong, can be authentic, are valued, respected, empowered and part of our success. We see strength in the uniqueness that each of us contributes to creating innovative solutions and improving business outcomes.

The Sr. Consultant, Actuarial and Analytics is an analytic role that encompasses the personal ownership of operational assignments and support of strategic assignments which may include reserving, rate-making, pricing, planning/forecasting, project management and research. The individual in this role is expected to have a high level of partnership within assigned unit and across projects, and be an influential member of project teams, providing analytical insights to leadership and Business unit partners. The Sr. Consultant, Actuarial and Analytics will work on assignments requiring knowledge and expertise in one or more of the following areas: Actuarial techniques and/or research methods, Statistical analyses, Foundational business knowledge, Line of Business knowledge

We are seeking an analytic professional who is excited and driven to modernize our Business Insurance Liability rating plans and processes. As a Senior Consultant, you will primarily support the development of a new Umbrella rating plan, while also providing adhoc support to various initiatives in other Liability lines. You'll use your strong analytic, technical, and problem-solving skills to generate creative solutions for our Umbrella rating in a cross-functional environment. Collaboration will be essential as you work in close partnership with our colleagues in the BI Product, Business Unit actuarial and underwriting, BI Rating, data delivery, regulatory and filings and other Actuarial Product teams. Current key initiatives include Umbrella rating plan modernization and consolidation, streamlining Umbrella rating and disruption processes using forward-looking technology, supporting current Umbrella rating plans, and providing actuarial analysis to support our Umbrella strategy. Prior experience supporting rating plans and/or pricing analytics is a plus. Actuarial exam support is available upon approval.

What Will You Do?

  • Provide actuarial support of Travelers Commercial Umbrella Plan (TCUP) initiative, the new One BI rating plan for Umbrella
  • Streamline and modernize rating and disruption processes and tools using forward-looking technology
  • Support rate adequacy analyses across various Liability lines and Business Units
  • Respond to field questions and provide direction to end users regarding Umbrella rating plans and tools
  • Partner with BI Product, Product Value Stream, Business Unit actuarial and underwriting, data delivery, regulatory and filings, and other Actuarial Product teams to support the needs of the business
  • Communicate actuarial rating concepts to technical development team

Strategy:

  • Participate on strategic projects with execution responsibility for assigned project sub-components.
  • Recommend and execute solutions for assigned project to resolve challenges of an initiative.
  • Execute work thoughtfully and efficiently as a team member to improve project team performance and timelines.
  • This position may participate on cross-unit and Enterprise initiatives.

Operational:

  • Independently refresh actuarial and analytic analyses, perform new analysis with guidance, and begin to apply judgment.
  • Support and begin to drive components of unit initiatives.
  • Begin to take accountability for process efficiencies within assignments.
  • Provide support as necessary for initiatives across the Enterprise within the scope of influence.

Communication:

  • Communicates progress, findings and results to manager and peers.
  • Communicates technical topics to primary working group.
  • Actively participates in group discussions.
  • Provides formal written communication such as memos or presentations with supervision.

Talent:

  • May be a mentor or resource for less experienced analytic talent within assigned Segment.
  • Onboard new employees and interns in unit.
  • Support various training and skill development initiatives across assigned Segment and the Enterprise.
  • May provide support for recruiting efforts and candidate talent assessment efforts.
  • Perform other duties as assigned.

What Will Our Ideal Candidate Have?

  • 3 or more Actuarial exams preferred.
  • College degree in STEM related field.
  • Strong PC skills (MS Office), basic programming skills (eg. SQL, SAS).
  • 2+ years of quantitative analysis experience preferred.
  • Developing understanding of insurance products and industry.

Leadership:

  • Development of Leading Self, exhibiting self-awareness and seeking opportunities to learn while also starting to manage ambiguity.
  • Initial development of Leading Others, including mentoring/training team members.
  • Initial development of Leading the Business, including being a positive member of the Enterprise culture.

Business Acumen:

  • Has an understanding and knowledge of a few basic key business drivers and disciplines such as: underwriting, products, reinsurance, distribution, sales, operations, risk control, claim, and financials.
  • Able to effectively utilize this business knowledge in developing analytic solutions.
  • Has a foundational perspective of certain areas of the industry and developing trends such as: technology, analytic methodology, products and performance of competitors.
  • Is familiar with a couple other key business drivers and disciplines.

Relationship Management:

  • Begin to develop professional business relationships across the BI&AA community within Segment.
  • Generate and solicit ideas.

Quantitative Analysis:

  • Able to use appropriate tools to compile and analyze data effectively.
  • Perform basic-level analytics working more independently and effectively with awareness of materiality and reasonability, foreseeing more next steps.
  • May perform technical review of unit work product.

What is a Must Have?

  • Bachelors Degree or equivalent experience required.
  • 1 year of experience in quantitative analysis required.

What Is in It for You?

  • Health Insurance: Employees and their eligible family members - including spouses, domestic partners, and children - are eligible for coverage from the first day of employment.
  • Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
  • Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
  • Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services, life coaching and other resources to support your daily life needs. Through Life Balance, you're eligible for five free counseling sessions with a licensed therapist.
  • Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

Travelers offers a hybrid work location model that is designed to support flexibility. 

This position may be based 100% remotely or in one of our offices.

#LI-Remote

#LI-Hybrid

Employment Practices

Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences. 


If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.


Travelers reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs please visit http://careers.travelers.com/life-at-travelers/benefits/.


About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.