Actuarial Co-op (Product Development)

The Strategic Partnerships team at SCOR US is at the forefront of developing new, innovative products within the Life insurance realm. We work with a diverse set of clients including InsurTechs, FinTechs, large agencies, health & wellness firms, and the best-known insurers in the United States. We are looking for well-rounded, creative-minded, and passionate individuals to join our growing and dynamic team on the journey to make Life insurance better for everyone.

Responsibilities

• Support the Pricing team across several new deals and products being developed
• Create actuarial models, including liability population cells / data tables / other structures needed to properly price business
• Generate model runs and sensitivities; verify results are accurate; complete analysis to quantify changes in assumptions, methods, required reserves, product features and premiums, etc.
• Create benchmarks to compare rates of new products against market competitors
• Complete documentation and reporting as required within internal systems
• Work closely with the Business Development team to assist with deal communication and hand-off for analysis and final proposals
• Assist with client experience and mortality assessments
• Complete data analysis to assist with assumption setting
• Complete necessary analysis required for client requests
• Create and continuously improve performance management capabilities for monitoring inforce business
• Identify areas of improvement and implement continuous improvement initiatives

Qualifications

• Currently in the 3rd or 4th year pursuing a Bachelor’s Degree in Actuarial Science/Statistics with sound grades
• Successful completion of 2+ actuarial exams preferred
• Exposure to life insurance courses and/or business courses.
• Prior co-op experience in a Life insurance and/or actuarial setting is an asset
• Experience with Prophet / GGY Axis preferred
• Working knowledge of insurance and actuarial principles Ability to work both independently and in a team setting
• Strong analytical skills; programming skills (I.e. Python) and Prophet/GGY Axis is an asset
• PC literacy including Microsoft Excel and PowerPoint
• Strong communication skills; written and verbal

About us

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life & Health and Property & Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.

In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.

At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.