Actuarial Analyst I - Kentucky Farm Bureau Mutual Insurance Company

Support the organization by learning and performing ratemaking strategies and unpaid claim estimation with the goal of advancing corporate objectives. This position requires strong communication and excellent human relations skills as the Analyst will collaborate extensively with all departments in the organization.

Collaborate with individuals from all departments (sales, product management, underwriting, IT, etc.) to create cohesive business strategies that further KFB’s goals.

Learn and use current actuarial and other analytical techniques to enhance processes and provide recommendations for the following:

Rate level indications for KFB lines of insurance.

Trend analyses for claims, policy growth/retention, quotes, and market research.

Rate/product changes including rate impact estimation, presentation to team members, updates to rating documents, and filing with regulators.

Annual and quarterly unpaid claim estimation.

Ultimate claim payment and frequency estimation for individual events.

Become knowledgeable of KFB’s data systems and be able to navigate, query, and report on basic data and trends.

Collaborate with and support other accounting and finance personnel in project and department deliverables.

Pursue actuarial credentials and participate in industry-related professional education.

Regular, predictable attendance.

This list of essential functions is non-exhaustive and may be supplemented as necessary.

Job Specifications   

Physical demands:  Normal vision/hearing (with or without correction); Sitting; Speaking.

Mental demands: Analytical Reasoning; Prolonged Concentration; Ability to grasp new concepts quickly; Decision making ability.

Equipment: Personal computer.

Environmental factors: Standard office lighting, temperature and noise.

Scope of Contacts       

All levels of KFB personnel.

Vendors, consultants, professional groups.

Personnel from other Farm Bureaus.

Minimum Education/Training Requirements

Bachelor’s degree required preferably in a highly analytical field, such as Mathematics, Statistics, Economics, Finance, or Computer Science.

Experienced in at least one data-intensive coding language (SAS, R, Python, SQL, etc.)

Successful completion of at least one actuarial exam.

Minimum Experience Requirements

Ability to organize, be creative and innovative in a restrictive time-frame.

Experience with Microsoft Office products, especially Excel.

Preference given for completion of a successful internship, ideally with a property-casualty insurer.

Compensation to be commensurate with experience and exam status.