Pricing Actuarial Analyst
Hybrid work schedule
Buffalo, NY
Merchants Insurance Group, a leading Property and Casualty Insurer in the Northeast, is looking for a Pricing Actuarial Analyst for our Corporate Actuarial team based in our Corporate Headquarters in Buffalo, New York.
The Pricing Actuarial Analyst will become part of a dedicated actuarial team focusing on providing support and assistance to the Product Manager in developing pricing proposals. Responsible for developing profitability and trend analysis designed to assist management in their decision-making process.
Merchants Insurance Group is rated A- (Excellent) with a stable outlook by A.M. Best and is consistently recognized as a top employer and high-performing organization. Recent honors include:
- Best Places to Work in Western New York (Buffalo Business First, 2023–2026)
- Fast Track Company (2019–2025) and Top Private Company (2019–2025)
- Ward’s 50® top-performing property-casualty insurer (2021–2024)
- Ivans Spark Award for Innovation (2024–2025)
- Named to Newsweek and Statista’s America’s Most Reliable Companies list (2025), ranked among the top 300 of 1,500 B2B organizations evaluated
We offer a hybrid work schedule, requiring two full days per week in the office, with flexibility to work remotely or in office the remaining days. This model supports collaboration while providing flexibility and work-life balance.
Essential Duties and Responsibilities include, but are not limited to:
- Follows the rate review schedule to develop state/product rate indications in accordance with Actuarial Standards of Practice and company standards
- Develops competitive analyses and impact analyses using Radar designed to assist business partners in developing rate proposals
- Tracks changes made by ISO and the Workers’ Compensation rating bureaus
- Prepares rate filings and works with state insurance departments as needed to gain regulatory approval
- Prepares system files and assists in timely and accurate implementation of rates
- Creates new or improves existing documentation
- Develops loss experience and product profile analyses including but not limited to monitoring company and industry trends in loss ratio, frequency, severity, premium, and policy growth. Clearly communicate results with appropriate business partners
- Assists in preparing semi-annual rate indications for all state/product combinations for tracking and planning purposes
- Supports maintenance and development of actuarial pricing models
Qualifications & Skills:
- Bachelor's degree in Mathematics, Statistics, Actuarial Science, or related field
- Experience in the actuarial field, property/casualty insurance company, or agency is preferred
- Credit for two exams and commitment to pursuing actuarial credentials from the Casualty Actuarial Society is preferred
- Proficient in Excel
- General programming and/or database skills; SQL experience preferred
- PowerBI or Tableau experience is a plus
- Proficiency in pricing concepts, P&C products/coverages is preferred
- Experience with Radar or similar rating software is a plus
- Excellent analytical, problem-solving, and organizational skills
- Detail-oriented with strong time-management skills to plan, prioritize, and meet deadlines
- Action-oriented with a focus on accuracy and results, including the ability to persevere in a variety of situations
- Strong written and verbal communication skills
- Ability to excel independently as well as contribute effectively to a team environment
Merchants Insurance Group Pay information:
Merchants Insurance Group offers a competitive pay scale. Merchants Insurance Group offers a competitive pay scale. The estimated salary for this role ranges from $60,000 - $80,000 based on leveling and geography, along with an equity component and a comprehensive benefits package. This range is merely an estimate; actual compensation may deviate from this range based on skills, experience and qualifications.
Merchants Insurance Group Benefits:
- The Pricing Actuarial Analyst qualifies for participation in the Merchants Insurance Group’s Actuarial Student Program.
- Welcoming and positive work environment.
- Flexible work arrangements, including flex scheduling and summer hours.
- Hybrid work schedule. The Hybrid work schedule will require 8 full days per month in the office, with the option to work the remaining days per month at home or in the office.
- Colleague Appreciation Events.
- Competitive pay scale.
- Outstanding company bonus program.
- Generous paid time off package.
- Full Benefits: Health, Dental, Vision, Life Insurance, Short Term Disability, 401(k) employer match amount is 100% up to 6% of your annual contributions. You are immediately 100% vested in the employer match dollars.
- Tuition Reimbursement.
And many more exciting company benefits!!
Merchants Insurance Group is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status. Merchants Insurance Group supports a safe workplace through pre-employment background screenings.