Applies analytical skills and actuarial methods to quantify risk and financial consequences. Assists Chief Actuary with identification of financial inefficiencies and applies problem-solving skills to optimize the use of member resources.
Essential Functions may include, but are not limited to the following:
Designs, develops, and maintains rate and pricing models to optimize competitive advantage and support corporate objectives.
Coordinates Catastrophe Modeling efforts including data compilation, validation, and presentation.
Completes data requests related to reinsurance renewal efforts.
Maintains and updates ceded premium allocation models to support internal financial statements.
Develops and implements cash projection analysis.
Coordinates Capital Modeling efforts to support Enterprise Risk Management objectives.
Assists Chief Actuary with development of reserving models and analysis of company booked reserves.
Completes other actuarial studies as assigned.
Ability to apply theoretical solutions to real-world problems.
Knowledge, Skills and Abilities
Knowledge of PhMIC products and pricing.
Understand principles and practices of insurance underwriting.
Interpret premium algorithms and coverage nuances.
General understanding of insurance accounting and Company financial statements.
Communicate effectively with others (oral and written).
Analyze complex issues and make critical decisions.
Maintain records, prepare reports and conduct correspondence related to the work.
Interpret and apply laws, rules and regulations, as well as complex policy and contract coverage.
Obtain and use sensitive information discreetly and objectively, both internal and external.
Determine when to escalate concerns to the appropriate level of management.
Follow oral and written directions.
Correct English usage, spelling, grammar, vocabulary and punctuation.
Work effectively with others in a team environment.
Contribute effectively to the accomplishment of team or work unit goals, objectives and activities.
Establish and maintain effective working relationships with those contacted in the course of work.
Excellent customer service skills.
Ability to organize and prioritize work.
Work independently and demonstrate drive and initiative.
Ability to handle multiple tasks at once.
Meet definite deadlines and deal with pressure situations.
Collect, interpret, and input data efficiently and accurately.
Use computer and related software effectively.
Adhere to the relevant standards of practice and professional conduct as promulgated by the American Academy of Actuaries and the Casualty Actuarial Society.
Bachelor’s degree from an accredited college or university with a minimum 3.0 GPA
ACAS or ASA* credential in General Insurance
*Adherence to the Code of Professional Conduct of the Casualty Actuarial Society (CAS) is expected even if employee is not a member of CAS.
We are an equal opportunity employer.
We offer a competitive benefits and compensation package.
It all began back in 1898 when a young Al Falkenhainer traveled west to Titonka, Iowa to open the town’s first business – a drug store. But it was just four years later that a fire destroyed all of his hard work. Frustrated by loss settlement practices, Falkenhainer set out to build a better insurance company, turning what appeared to be a bleak end into a thriving, prosperous insurance company th...at’s still providing the same great service today.
As a member and officer of the Iowa Pharmacists Association, young Falkenhainer believed in the value achievable when druggists worked together for the good of their profession. This is why he set out to provide prompt and fair claims service to members of the pharmacy profession. But beyond this, he wanted to establish a company that could respond to the needs of the industry. Which is why, in 1909, he obtained a charter for a mutual insurance company and founded, with the support of his peers, a company named Druggists Mutual Insurance. Falkenhainer led that organization from its inception through 1920.
In 1992, the company was renamed to Pharmacists Mutual insurance Company. Driven by his original vision, the company offered personalized and dedicated service to its members for decades to come. More than a century later, his same original focus still guides the company as we work hand-in-hand with a broad range of health professionals.
Today, Pharmacists Mutual operates in all 50 states, the District of Columbia, and Puerto Rico. The company has also grown to become a nationally recognized leader in serving insurance and risk management needs within the healthcare industry under the three companies of Pharmacists Mutual Insurance Company, The Pharmacists Life Insurance Company, and PMC Advantage Insurance Services, Inc.
As an A.M. Best Excellent rated property and casualty insurance provider, Pharmacists Mutual writes 90,000 policies for 50,000 customers. The majority of these policyholders are pharmacists and independent pharmacy owners, though the market share of dentists, home healthcare operations, durable medical equipment providers, and gift and card shops continue to rise.
In 2012, in response to growing demand from members in other healthcare settings, we introduced our newest PMC Insurance Solutions brand designed to suit the needs of non-pharmacy segments. This joins our legacy Pharmacists Mutual brand to now serve an even broader population.
Pharmacists Mutual prides itself on being your single resource for insurance protection. Our broad portfolio of products and services reach customers through our three companies. United, these companies satisfy all of a policyholder’s professional, personal, and business insurance needs. We ensure exceptional personal attention and continued support that extends from our full-time sales representatives through professionally trained home office staff.
Our home office is located in Algona, Iowa, and we employ nearly 300 professionals including more than 200 home office personnel, 30 employees at the five local PMC Advantage offices (Algona, Swea City, West Bend, Corwith, and Garner), and more than 50 sales representatives residing in states where we operate. Our staff is comprised of insurance professionals with diverse experience and backgrounds including accounting, actuarial, dental hygiene, law, medicine, nursing, pharmacy, and teaching. We also employ licensed insurance representatives and professionals holding distinctive insurance designations.
The Board of Directors of Pharmacists Mutual is composed primarily of practicing pharmacists who are instrumental in developing company goals and policies.
We are fully committed to the professions we serve and support numerous initiatives including:
•Student Pharmacist Scholarships
•Nationwide Distinguished Young Pharmacist Award Sponsorship
•Pharmacy Law Lectures
•Continuing Education Contributing Speakers for Conventions
•Risk Management Assistance
•Pharmacy Marketing Group (PMG) and State Pharmacy Association Financial Contributions
We are honored to carry on Al Falkenhainer’s commitment to those he served more than 100 years ago. Pharmacists Mutual is committed to maintaining his legacy and his simple, yet powerful, idea: “Be the best at serving your members, and all else will follow.”