VP of Product and Pricing

  • 37404
  • Non-Life - Actuarial
  • |
  • Ohio, United States
  • |
  • May 19, 2020
Insurance
RESPONSIBILITIES
  • Expand the company from being available in 30 markets to being available nationwide while entering new markets with excellent loss performance.
  • Clearly understand and guide company's position in the market by leveraging competitive data and win rates.
  • Craft product strategies to satisfy a wide variety of customer segments, from non-standard to preferred.
  • Work with marketing to define the optimal customer acquisition strategy, balancing acquisition costs with loss ratio performance by market.
  • Institute a state review process, including setting the optimal rate level in new and existing markets with thin data where countrywide indications may not be applicable.
  • Forecast the loss performance of the book to inform strategic financial planning, with only having data available from a short operating history.
  • Define underwriting strategies, including when to underwrite out versus price adequately based on indications.
  • Mitigate fraud through product forms, pricing, underwriting, and acquisition strategies, in close collaboration with claims.
  • Instill a high degree of standardization and rigor in analysis, enabling the company to evolve at a faster pace than any other personal auto carrier.
  • Manage an existing book of business that was acquired through rapid changes in the company, while recognizing that with high growth, premiums from new writings will quickly exceed premiums from the existing book.
  • Develop rating plans that leverage traditional rating variables while also applying telematics factors based on varying degrees of data quality.
  • Structure internal metrics and reporting to generate actionable insights.
  • Achieve industry-leading unit economics while also growing at a historic pace.
QUALIFICATIONS
  • A minimum of 8 years managing personal auto products.
  • Knowledge of statistics and basic actuarial techniques with superior analytical skills.
  • Familiarity with insurance pricing strategy.
  • Preferred actuarial certification or Bachelor’s or Master’s degree in a quantitative field.
  • Highly effective at fostering collaborative cross-functional relationships and communicating across both technical and non-technical roles in multiple mediums.