Orchid Underwriters Agency, LLC (Orchid) is currently looking for a Claims Analyst for our Tampa, FL location. This individual will ensure Orchid’s attritional loss ratios perform at or better than capacity partner expectations. This person will collect, store, and structure all necessary loss and premium data needed to support rigorous analyses and decision/action support. In addition, this role will drive the analysis required to manage and improve results. This position is an industry SME on all things attritional.
This position will be the single point of expertise on attritional results and will interact extensively with carrier partners and claim handling vendors.
Essential Duties and Responsibilities:
Collects, stores, and structures loss and premium data.
• Defines loss elements required to perform heavy analytics
• Coordinates with claims providers to ensure data quality, consistency, and timeliness
• Ensures Orchid has a complete view of attritional results for all partners.
• Designs the necessary data storage and structure needed to enable the analytics
• Drives the loss/premium analysis of results to accurately measure loss ratios, including but not limited to:
o Loss cost trends
o Loss frequency
o Loss severity
o Loss ratios by segments ( Cov A, usage, age, etc.)
o Loss development factors
Loss Ratio Improvement Actions.
• Coordinates with the product team to design and execute LR improvement actions (target rate changes, structure changes, coverage changes, etc.)
• Coordinates with pricing/underwriting to continuously improve underwriting guides
• Drives changes in the inspection process to improve their ability to influence attritional results
• Designs and deliver subject matter training including loss autopsies.
Improved exposure segmentation.
• Continually research, tests and deploys new rating elements to better segment attritional exposure (location, water mitigation devices, credit, household structure, etc.)
• Drives improvements in the attritional rate order. Create the most effective rate order in the PL space
• Analyze and benchmark competitor attritional pricing and underwriting practices
Macro attritional driver SME.
• Masters the localized attritional cost drivers ( AOB, roof repairs, etc.)
• Builds deep knowledge on building codes related to attritional losses
• Tracks case law related to attritional loss settlements
• Educates local BD and product managers on attritional improvement focus
• Loss ratio analysis in the PC space, working in a pricing/actuarial function
• Very strong analytic aptitude
• Proven skills using excel Power Pivot/Power Query
• Proven skills in converting analysis to action
• Experience in database design and structure
Preferred Skills and Abilities:
• General PL accountability in the P&C insurance space
• Experience in the HU CAT space
• Experience in the E&S segment
• Technical undergraduate degree (Engineering, Math, Finance, Statistics, maybe Econ)
• Graduate Business or technical degree (MBA or MS in Engineering, Math, or Science )
• Strong presentation skills
• Strong oral and written communication skills
Orchid Underwriters Agency, LLC (“Orchid”) is one of the largest independent managing general underwriters (MGUs) in the nation and provides unparalleled service and product offerings to insurance agents and brokers for hard-to-place risks. Since its founding in 1998, Orchid has recognized a long-term and sustained growth trajectory, and currently places approximately $250 billion of annual premium. Orchid retains a “start-up” entrepreneurial culture, but with top-decile industry leadership and robust access to capital to fund future initiatives and deal activity.
Our benefits include company-subsidized health insurance, fully paid life insurance and long-term disability, 401k plan with company match and immediate vesting, goal-sharing bonus plans based on company performance, ten paid holidays and paid time off, and educational/tuition reimbursement support.
If you think you have the right skills and a great attitude to match, please apply today!
Orchid Underwriters Agency, LLC. is an Equal Opportunity Employer.