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Staff Actuary I, Actuarial Pricing

Root Insurance

Root Insurance

Accounting & Finance
Remote · United States
Posted on Saturday, January 20, 2024

CURRENT ROOT EMPLOYEES - Please apply using the career page in Workday. This career site is for external applicants only.

The Opportunity

We believe that a disruptive insurance company must have a principled quantitative framework at its foundation. At Root, we are committed to the rigorous development and effective deployment of modern statistical machine learning methods to problems in the insurance industry.

A Staff Actuary, I in our Actuarial Pricing group helps set the actuarial and statistical standard of excellence with which Root approaches accurately and efficiently setting rate indications, producing rate and product filings and responding to filing objections. The ‘simple question’ of determining rate need has myriad analytical challenges such as handling catastrophe losses, accounting for shifts in customer mix and acquisition as well as Root product offerings and estimating historical trend and projecting future trend.

A staff actuary is a key member of our quantitative science department and works closely with other actuaries and data scientists within this team. They work in cross-functional collaboration with members of State Product Management, Product, and Engineering, and interface with our executive team.

This role is as an individual contributor, but we expect a staff actuary to be a mentor to all members on the team and a technical advisor on all key research projects on the actuarial pricing team.

Root is a “work where it works best” company. Meaning we will support you working in whatever location that works best for you across the US. We will continue to have our headquarters in Columbus and offices in other locations to give more flexibility and more choice about how we live and work.

Salary Range: $140,000 - $155,000

How You Will Make an Impact

  • Refining our approach to trend, loss development and the rate indication

  • Applying principled methods to evaluate deployed changes to said process.

  • Learning the required tools to get the job done, e.g., AWS, Git, etc.

  • Building analytical tools and methodologies to automate and systematize as much as possible, allowing the actuarial pricing team as a whole to focus their time and efforts on the most challenging problems.

  • Effectively communicating insights from complex analyses

  • Taking end-to-end ownership of problem domains and continuously improving upon quantitative solutions

What You Will Need to Succeed

  • Associate of the Casualty Actuarial Society (ACAS)

  • 5+ years of experience in the insurance industry with 3+ years of experience in pricing/ratemaking

  • Experience in developing novel actuarial analysis especially in ratemaking, trend, and catastrophe loss handling.

  • Demonstrable knowledge of GLM modeling, especially as applied to insurance pricing.

  • Exceptional communicator

  • Experience with R or Python

  • Experience with databases and SQL.

  • Commitment to analytical rigor and backtesting and post-deployment of solutions whenever possible

  • Demonstrable ownership mentality, taking initiative to find, prioritize, and be accountable for the highest impact work

  • Ability to plan out and achieve multi-quarter projects on time and as envisioned.

Preferred but not required

  • FCAS

  • Advanced degree in a quantitative discipline

  • Experience using version control (Git) and cloud computing (AWS)

Don’t meet every single requirement?

Studies have shown that women and people of color are less likely to apply to jobs unless they meet every single qualification. At Root, Inc., we are dedicated to building a diverse and inclusive workplace, so if you’re excited about this role but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyway!

Join us

At Root, we judge people based on the merit of their work, not who they are. If you are passionate about what this role entails and solving real problems, we encourage you to apply. We want to learn about you and what you can add to our team.

Who we are

We’re harnessing the power of technology to revolutionize insurance. Using machine learning and mobile telematic platforms, we’ve built one of the most innovative FinTech companies in the world. And we’re just getting started.

What draws people to Root

Our success is in large part due to our unwavering standards in hiring. We recognize that our products are only as good as the people building and promoting them. We want individuals who find solutions by going through the cycle of ideation to implementation with curiosity, rigor, and an analytical lens. Ask anyone who works here and you’ll hear similar reasons for why they joined:

Autonomy—for assertive self-starters, the opportunities to contribute are limitless.

Impact—by challenging the way it’s always been done, we solve problems that have a big impact on our business.

Collaboration—we encourage rich discussion and civil debate at every turn.

People—we are inspired by the collection of crazy-smart people around us.