Actuarial Assistant (Hybrid)

About Us

At Selective, we don't just insure uniquely, we employ uniqueness.

Selective is a midsized U.S. domestic property and casualty insurance company with a history of strong, consistent financial performance for nearly 100 years. Selective's unique position as both a leading insurance group and an employer of choice is recognized in a wide variety of awards and honors, including listing in Forbes Best Midsize Employers in 2025 and certification as a Great Place to Work in 2025 for the sixth consecutive year.

Employees are empowered and encouraged to Be Uniquely You by being their true, unique selves and contributing their diverse talents, experiences, and perspectives to our shared success. Together, we are a high-performing team working to serve our customers responsibly by helping to mitigate loss, keep them safe, and restore their lives and businesses after an insured loss occurs.

Overview

Assists with preparing pricing analyses, reserve analyses, experience, and profitability reviews and/or state rate filings, and support of business units and other departments as needed. Builds actuarial and business expertise, including the pursuit of the FCAS designation. This position will be associated with specific department functions. This role will be involved in several of the items below. The specific items will depend upon the department (pricing versus reserving). All job duties must be carried out in compliance with internal controls and departmental review requirements. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements.

Note: (For NJ candidates) This role will be located at our future headquarters in Short Hills, N.J. Until the new headquarters is operational, the successful candidate will be offered the ability to work in our Branchville, N.J. location during this interim period.

Responsibilities

• Assist in preparing rate indications and recommendations. Participate in discussions with Corporate and/or Field Underwriting to develop recommendations. Prepare rate filings, working cooperatively with other areas such as Underwriting and Legal.
• Assist with monitoring price levels and profitability through periodic analyses. Assist in developing and delivering tools to drive appropriate policy level decision making.
• Apply advanced statistical concepts by assisting in the development of complex rating plan or other loss models, with direction from experienced modeler. Develop an acumen in advanced analytics.
• Assist in product development by estimating impacts of new or enhanced coverages and preparing rate pages and filing support.
• Assist in preparing actuarial premium indications for individual large accounts.
• Assist with quarterly loss and LAE reserve analyses. With appropriate guidance, prepare data files and templates. Analyze loss trends and develop preliminary projections of ultimate losses and IBNR for review by supervisor.
• Assist in the preparation of designated external and internal financial and management reports. These include but are not limited to 10-K/Q disclosures, statutory schedules (P), and the "AY Report". Prepare routine reports and other submissions (e.g., data calls, excess profits).
• Support ceded reinsurance placement by providing information and data for broker submissions. Prepare routine data submissions. Populate and run reinsurance pricing templates.
• Prepare data, populate templates, and design non-complex Excel and Access applications. Identify opportunities for automation and implement with supervisor approval.
• Develop a foundational knowledge of the functions performed by the Actuarial department and how the department relates to other functional areas of the organization.

Qualifications

Knowledge and Requirements

• Requires strong analytical skills and a commitment to developing an actuarial knowledge base.
• Effective communication and interpersonal skills also required.

Education and Experience

• College Degree in Actuarial Science, STEM (Science, Technology, Engineering, Mathematics), or another analytical field preferred.
• Experience with programming languages or statistical modeling packages (e.g., R, Python, etc.) a plus.

Total Rewards

Selective Insurance offers a total rewards package that includes a competitive base salary, incentive plan eligibility at all levels, and a wide array of benefits designed to help you and your family stay healthy, achieve your financial goals, and balance the demands of your work and personal life. These benefits include comprehensive health care plans, retirement savings plan with company match, discounted Employee Stock Purchase Program, tuition assistance and reimbursement programs, and 20 days of paid time off. Additional details about our total rewards package can be found by visiting our benefits page.

The actual base salary is based on geographic location, and the range is representative of salaries for this role throughout Selective's footprint. Additional considerations include relevant education, qualifications, experience, skills, performance, and business needs.

Pay Range

USD $69,000.00 - USD $95,000.00 /Yr.
Additional Information

Selective is an Equal Employment Opportunity employer. That means we respect and value every individual's unique opinions, beliefs, abilities, and perspectives. We are committed to promoting a welcoming culture that celebrates diverse talent, individual identity, different points of view and experiences - and empowers employees to contribute new ideas that support our continued and growing success. Building a highly engaged team is one of our core strategic imperatives, which we believe is enhanced by diversity, equity, and inclusion. We expect and encourage all employees and all of our business partners to embrace, practice, and monitor the attitudes, values, and goals of acceptance; address biases; and foster diversity of viewpoints and opinions.

For Massachusetts Applicants

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.