Actuarial Services for Insurance Startup - long term service
Budget: $1,500 – $3,000 USD
We are an insurance startup focused on loss-sensitive insurance solutions for large U.S.-based corporate clients. Our core lines of business include Property, Construction, Casualty, and Financial Lines.
We are seeking an actuarial firm to provide ongoing monthly actuarial advisory support, including the following services:
1. Industry Data Maintenance
Ongoing monitoring, review, and updating of key industry actuarial inputs, including:
Industry Loss Development Factors (LDFs)
Trend and inflation assumptions
Benchmark loss ratios and severity metrics
Scope of support to include:
Recommendations on appropriate data sources and update frequency
Regular refresh of assumptions as market conditions evolve
Clear documentation of updates, assumptions, and supporting rationale
2. Ad Hoc Project Modeling Support
Actuarial support for structured insurance and loss-sensitive program modeling on an ad hoc basis.
Expected volume: approximately 1–2 projects per month
Services may include:
Scenario and stress testing
Sensitivity analysis
Evaluation of alternative structures or program modifications
Actuarial input to support underwriting and structuring decisions
3. Meeting Participation
Participation in insurer and/or client meetings as needed.
Expected frequency: approximately 3–5 meetings per month
Ability to:
Clearly communicate actuarial concepts to non-actuarial stakeholders
Explain and defend assumptions, methodologies, and results in commercial discussions
4. Internal Training and Knowledge Transfer
Periodic internal training for underwriting, structuring, and management teams.
Potential topics include:
Structured and loss-sensitive insurance pricing concepts
Use and interpretation of industry actuarial data
Emerging trends and actuarial best practices
Training format to be agreed (e.g., workshops, presentations, or written materials)
We are seeking an actuarial firm to provide ongoing monthly actuarial advisory support, including the following services:
1. Industry Data Maintenance
Ongoing monitoring, review, and updating of key industry actuarial inputs, including:
Industry Loss Development Factors (LDFs)
Trend and inflation assumptions
Benchmark loss ratios and severity metrics
Scope of support to include:
Recommendations on appropriate data sources and update frequency
Regular refresh of assumptions as market conditions evolve
Clear documentation of updates, assumptions, and supporting rationale
2. Ad Hoc Project Modeling Support
Actuarial support for structured insurance and loss-sensitive program modeling on an ad hoc basis.
Expected volume: approximately 1–2 projects per month
Services may include:
Scenario and stress testing
Sensitivity analysis
Evaluation of alternative structures or program modifications
Actuarial input to support underwriting and structuring decisions
3. Meeting Participation
Participation in insurer and/or client meetings as needed.
Expected frequency: approximately 3–5 meetings per month
Ability to:
Clearly communicate actuarial concepts to non-actuarial stakeholders
Explain and defend assumptions, methodologies, and results in commercial discussions
4. Internal Training and Knowledge Transfer
Periodic internal training for underwriting, structuring, and management teams.
Potential topics include:
Structured and loss-sensitive insurance pricing concepts
Use and interpretation of industry actuarial data
Emerging trends and actuarial best practices
Training format to be agreed (e.g., workshops, presentations, or written materials)