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Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of policyholders and its policyholder-owners. Velocity Specialty Insurance Company is a new subsidiary of FM that is backed by the financial strength and legacy of FM.
This role supports pricing, portfolio analytics, and business performance for VSIC’s Commercial Excess & Surplus (E&S) portfolio, with a focus on MGA-produced business.
The position combines actuarial modeling, exposure analysis, and financial analytics to inform pricing adequacy, portfolio performance, and underwriting decisions. The role operates in a fast-paced environment with varied data sources and evolving exposure information, requiring strong actuarial judgment, analytical rigor, and business acumen.
The role partners closely with underwriting, finance, and business leadership to translate analysis into actionable insights, while contributing to portfolio monitoring and performance evaluation.
Duties & Responsibilities
1. Pricing, Risk Modeling & Actuarial Judgment (40%)
Develop and maintain pricing models for Excess & Surplus (E&S) risks utilizing exposure data, loss experience, and actuarial judgment.
Analyze damage curves, severity distributions, and loss trends to support pricing decisions.
Estimate expected loss costs and develop technical pricing indications.
2. Portfolio Analytics & Profitability (25%)
Evaluate portfolio profitability across multiple segments, including class of business, geography, broker relationships, and product lines.
Identify and analyze key drivers impacting loss ratios, rate changes, and overall margin performance.
Perform variance analyses to compare expected versus actual results and identify emerging trends.
Support portfolio management, underwriting strategy, and business planning initiatives.
3. Data Stratification & Exposure Analysis (25%)
Stratify risks based on location characteristics, industry classifications, catastrophe (CAT) exposure, and coverage structure.
Organize and transform data into meaningful formats for modeling, analysis, and reporting purposes.
Identify patterns, trends, and risk characteristics to support underwriting and portfolio decision-making.
4. Financial Reporting & Performance Tracking (10%)
Partner with the Finance team to analyze monthly financial results, including premium, loss ratio, and expense performance.
Develop, maintain, and enhance reporting dashboards and management exhibits.
Monitor, track, and explain business performance trends to support strategic decision-making.
Skills & Experience
Strong foundation in actuarial modeling, pricing, and risk analysis within property/casualty insurance
Experience analyzing portfolio performance, profitability, and business drivers
Ability to work with incomplete or evolving datasets and translate findings into clear insights
Strong analytical and problem-solving skills with the ability to apply actuarial judgment in complex situations
Ability to translate technical analysis into business recommendations for underwriting and leadership audiences
Experience working with data tools and programming languages (e.g., Excel, SQL, Python, R, or similar)
Strong collaboration skills with experience partnering across underwriting, finance, and actuarial functions
Strong communication skills, including the ability to explain complex concepts clearly and concisely
Ability to manage multiple priorities in a fast-paced, dynamic environment
Qualifications
7+ of actuarial, pricing, or analytical experience within insurance or reinsurance
Experience in property, E&S, or specialty lines strongly preferred
Exposure to MGA / delegated underwriting environments a plus
Progress toward CAS credential (ACAS/FCAS) or equivalent actuarial qualification preferred
Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or related field required
The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in FM’s comprehensive Total Rewards program that includes an incentive plan, generous health, and well-being programs, a 401(k), career development opportunities, tuition reimbursement, flexible work, time off allowances, and much more!
FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.
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