Sr. Commercial Auto Pricing Actuary

We’re not like other insurance companies. From our specialty products to our business model, our culture to our results — we’re different. Different is who we are, and how we work, interact, deliver and succeed together. Creating a different and better insurance experience doesn’t just happen. It takes focus and a shared passion for going beyond the expected to forge relationships and deliver care that makes a difference. This approach rises from and is supported by our talented, ethical and smart team of employee owners united around a single purpose: to work alongside our customers and partners when they need us, in unexpected ways, with exceptional results. Apply today to make a difference with us. 

RLI is a Glassdoor Best Places to Work company with a strong, successful background. For decades, our financial track record has been stellar — a testament to our culture and validation of our reputation as an excellent underwriting company.

In addition to product support, actively provides oversight and recommendations regarding actuarial processes and analyses specifically within the commercial auto insurance sector. Responsible for providing feedback on the reasonableness of the data, selection of parameters, and calculations involved with conducting actuarial analysis related to commercial auto pricing. Evaluate profitability of commercial auto products and recommend corrective action and/or identify growth opportunities. Position has regular contact with field underwriting and other Risk Services personnel.

• Advanced statistical analysis

• Reinsurance evaluation

• Individual risk pricing

• Due diligence on large, high risk opportunities, including purchase of assets and liabilities

• Making formal recommendations to management

• Financial planning

• Assess rate adequacy and propose adjustments to pricing models, making filings when necessary

• Typically requires a bachelor’s degree in mathematics, statistics, actuarial science or a related field

• Minimum of 3 years of relevant experience (6+ years preferred) in commercial auto pricing and actuarial support, with a strong understanding of the commercial auto insurance market

• Completion of at least 4 actuarial exams; ACAS or FCAS designation preferred

• Ability to make good business judgments based on sound actuarial analysis.

• Ability to use advanced complex analytical methods in actuarial processes to find workable solutions.

• Ability to generate innovative solutions within the Risk Services department.

• Strong communication skills, both verbal and written.

• Ability to apply a strategic perspective to improve risk services functions.

• Regularly offers and executes new ideas to enhance analyses.

• Types of projects include advanced statistical analysis, reinsurance evaluation, develop and implement rating models, individual risk pricing, due diligence on large/high risk opportunities, making formal recommendations to management, auditing underwriters for effective use and compliance of rules and rating plans, leading predictive analytics projects.

The base salary range for the position is listed below. Please note that the base salary is only one component of our robust total rewards package at RLI. The salary offered will take into account a number of factors including, but not limited to, geographic location, experience, scope & responsibilities of the role, qualifications/credentials, talent availability & specialization, as well as business needs. The below range may be modified in the future.

Base Pay Range

At RLI, we're all owners. We hire the best and the brightest employees and allow them to share in the company's success through our Total Rewards. With the Employee Stock Ownership plan at its core, the Total Rewards program includes all compensation, benefits and perks that come with being an RLI employee.

Financial Incentives

• Annual bonus plans

• Employee stock ownership plan (ESOP)

• 401(k) — automatic 3% company contribution

• Annual 401k and ESOP profit-sharing contributions (Up to 15% of eligible earnings)

Work & Life

• Paid time off (PTO) and holidays

• Paid volunteer time off (VTO) to support our communities

• Parental and family care leave

• Flexible & hybrid work arrangements

• Fitness center discounts and free virtual fitness platform

• Employee assistance program

Health & Wellness

• Comprehensive medical, dental and vision benefits

• Flexible spending and health savings accounts

• 2x base salary for group life and AD&D insurance

• Voluntary life, critical illness, & accident insurance for purchase

• Short-term and long-term disability benefits

RLI encourages its employees to pursue professional development work in insurance and job-related areas. We make a commitment to employees to provide educational opportunities that help them enhance their skills and further their career advancement. RLI fosters a true learning culture and encourages professional growth through insurance courses, in-house training and other educational programs. RLI covers the cost for most programs and employees typically earn a bonus upon successful completion of approved courses and certifications. Our personal and professional growth benefits include:

• Training & certification opportunities

• Tuition reimbursement

• Education bonuses

Our goal is to attract, develop and retain the best employee talent from diverse backgrounds while promoting an environment where all viewpoints are valued and individuals feel respected, are treated fairly, and have an opportunity to excel in their chosen careers. We actively support, and participate in, initiatives led by the American Property Casualty Insurance Association that aim to increase diversity in the insurance industry. Cultivating an exceptional and diverse workforce to deliver excellent customer service reinforces our culture and is a key to achieving superior business results.

RLI is an equal opportunity employer and does not discriminate in hiring or employment on the basis of race, color, religion, national origin, citizenship, gender, marital status, sexual orientation, age, disability, veteran status, or any other characteristic protected by federal, state, or local law.