Why General Motors Insurance?
At General Motors Insurance, we are building an Insurtech business that will reinvent auto insurance. We are fully owned and backed by auto industry leaders General Motors and GM Financial.
This is a truly unique opportunity to join at the foundational stage of a start-up leading the transformation of the auto insurance experience.
GM has the largest connected vehicle fleet worldwide. In the US alone, there are currently 9M+ connected GM vehicles on the road and that number is projected to triple in the next 10 years. More than that, the OnStar system currently has access to over 900 data points from the vehicle. This surge in information about vehicles and how they are driven will revolutionize auto insurance. This disruption is backed by the bold GM vision of zero crashes, zero emissions and zero congestion. We are serious about the safety and financial security of our customers.
This position will be posted until filled.
The AVP Insurance Pricing is responsible for the preparation of rate level indications and actuarial support for state filings as well as rate impact analysis and rate testing. This person will be a thought leader in the design of pricing data management, pricing methodologies that evolve as the company matures, and continuous innovation in related processes and tools. They will mentor and grow a high-performing team of pricing analysts and managers and work with numerous professionals to help achieve the company's pricing strategy.
About the role
- Formulate pricing strategy in line with corporate objectives
- Establish key profitability metrics and deliver performance summaries to senior leadership, including identification of trends and comparison of actual and expected results
- Serve as expert on actuarial pricing work, providing clear explanations of methodologies and results
- Accountable for the preparation of rate level indications and actuarial support for state filings in line with actuarial standards of practice, internal governance protocols, and state laws and regulations
- Accountable for rate impact analysis that supports decision-making and rate testing that underlies accurate and efficient rate deployment
- Work closely with Product & Design teams to inform the design of pricing data management and lead the design and maintenance of tools related to performance monitoring and deployment
- Work closely with State Management to support data-driven state pricing decisions
- Collaborate with data scientists and modelers to continuously improve rate segmentation and our understanding of the impact of rate changes
- Advise Finance on profitability projections
- Mentor and grow a high-performing team of pricing managers and analysts
- Promote innovation in pricing data and methodologies, as well as continuous modernization of work products
- Perform other duties as assigned
- Conform with all company policies and procedures
Responsibilities
What makes you a dream candidate?
- Strong actuarial foundation in ratemaking for private passenger automobile insurance
- Solid understanding of financial performance metrics and experience linking pricing outcomes to business impact
- Prior responsibility for rate indications, filings and regulatory responses across multiple states
- Familiarity with actuarial standards of practice and compliance frameworks
- Knowledge of predictive modeling and machine learning techniques used in pricing and underwriting
- Knowledge of modern data practices and comfort with large, complex data environments
- Knowledge of rating engines (Guidewire a plus) and rate testing and deployment protocols
- Experience with pricing modernization initiatives is a plus
- Experience managing relationships with upper management and with cross-functional roles, in particular presenting complex findings to non-technical audiences and translating results into action
- Proven ability to lead and develop an actuarial pricing team, particularly in a remote environment
- Exceptional interpersonal, communication, cross-collaborating and team skills
- Proven ability to meet expected delivery dates and the tasks necessary to achieve objectives
- Ability to work effectively in a team environment and able to adapt to rapidly changing business and technological needs
- Ability to use good judgment in making independent decisions
- Strong in the use of Microsoft Office software, data querying platforms (Databricks is a plus) and statistical programming tools such as Python
Qualifications
Experience
- Bachelor's Degree or equivalent experience required
- 8+ years of Actuarial or pricing experience within the property & casualty insurance industry, including at least 4 years in private passenger automobile pricing
- 3+ years leading direct reports consisting of actuaries, pricing analysts and/or data scientists required
Licenses and Certifications
- Associateship (ACAS) or fellowship (FCAS) with Casualty Actuarial Society required
What We Offer: Generous benefits package available on day one to include: 401K matching, bonding leave for new parents (12 weeks, 100% paid), tuition assistance, training, GM employee auto discount, community service pay and nine company holidays.
Our Culture: Our team members define and shape our culture - an environment that welcomes innovative ideas, fosters integrity, and creates a sense of community and belonging. Here we do more than work - we thrive.
Compensation: Competitive pay and bonus eligibility
Work Life Balance: 100% remote
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The base salary for this role is $137,000 to $246,000.
At GM Financial, we strive for transparency and in all aspects of our business, including pay equity. This is the GM Financial pay range for this role and job level. The exact salary and compensation will vary based on factors like knowledge, skills, experience and education.
This role is eligible to participate in a performance-based incentive plan. Full time employees are eligible to participate in health benefits on day one of employment.
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