Actuarial Intern, Pricing (Summer 2023)

Actuarial Intern, Pricing (2023)

San Francisco, CA

About At-Bay

At-Bay combines world-class technology with industry-leading insurance to help clients meet risk head-on. Partnering with brokers and business owners alike, we provide modern insurance products and active risk monitoring services for companies of every size and in every industry. Our team boasts many backgrounds and skills, from analysts and developers to designers and underwriters, and everything in between — all working together to redefine what it means to be an insurance company.

We're proud to be a diverse company and to have expertise from multiple industries driving our culture. At-Bay is expanding rapidly, and as we grow, we're prioritizing inclusive hiring practices and supportive team environments. We're committed to building a company culture where people of all identities and backgrounds are empowered to thrive, develop their career, and bring their full self to work.

At-Bay is a globally distributed company with hubs in Atlanta, New York City, San Francisco, and Tel Aviv. To date, we have raised $292 million in funding from Acrew Capital, Glilot Capital, Icon Ventures, ION Crossover Partners, Khosla Ventures, Lightspeed Venture Partners, M12, entrepreneur Shlomo Kramer, and Qumra Capital.

Your Impact

As an Actuarial Intern on the Pricing team, you will be working under the risk function with talented team members in actuarial, data science, engineering and business intelligence. You will report to the Actuarial Pricing Manager and support the team to deliver pricing initiatives and strategies. Your work directly contributes to At-Bay's risk assessment framework that helps with data-driven decisions involving millions of dollars of exposure. This is a multidisciplinary role that includes developing deep cyber and tech knowledge, business acumen, research, and analytical skills. This is also a hands-on operational role where you'll see in house submission, quotes and binds and understand how each risk decision will impact on the business.

Responsibilities

• Support the risk review process and contribute to the At-bay's risk committee meetings to support the pricing & underwriting strategy.
• Review and understand key drivers of trend and loss development for Cyber, Tech E&O and other lines of business and share those insights with key decision makers as part of the rate indication process.
• Leverage traditional actuarial methods to identify, advise and execute pricing initiatives intended to achieve functional strategies (often segment specific) on matters of significance.
• Conduct competitive & market analysis and summarize underwriting feedbacks.
• Research insurance industry data to assist in the analysis of benchmark pricing parameters, including trend, rate changes, and loss development.
• Conduct portfolio reviews and monitor KPIs as required.
• Pull data directly from the data warehouse using SQL to perform various ad hoc data analysis to inform strategic, data-based decision making.
• Collaborate with Insurance & Tech Product, Underwriting, Claims, and R&D teams to deliver pricing initiatives.

Qualifications

• Pursuit of Bachelor's Degree or higher in Mathematics/Applied Mathematics, Actuarial Science, Statistics or a related field
• 1+ Actuarial exams in pursuit of ACAS or other equivalent designation preferred.
• Strong plus if you have direct Cyber, Tech E&O, Miscellaneous Professional Liability (MPL) experience.
• Hands-on experience with Excel as must and SQL, Python, R as strong preferred
• Relevant coursework and insurance case studies is a plus
• Prior internships supporting rate filings with State Department of Insurance, performing actuarial reserving is a plus
• Driven, Team Player, Independent, Strong Sense of Ownership, Hungry for Intellectual Challenges, Concise, Results Driven, Bias Towards Efficiency

What you'll get

• Hands on knowledge of insurance products and actuarial methods
• Exposure to business applications of technical skills like SQL and Python
• Passionate, smart, and fun people to work with
• You will never lack for challenge, we are a unique blend of a tech startup, an international firm, and an insurance company
• Great office location in San Francisco

Our hourly pay rate for this role is $25/hour. Our compensation is determined by a variety of factors including but not limited to market data, location, experiences and skills. In general, if the position sparks your interest we encourage you to apply - our team prioritizes talent.