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Actuary Development Programs Jobs in Massachusetts

Converys

Programs Underwriting Director

Boston, MA · On-site

Build strong internal networks across underwriting, actuarial, claims, finance, and technology to ... Product Development: In partnership with MGAs, lead research, design, and implementation of new ...

Coverys, Inc.

Programs Underwriting Director

Boston, MA · On-site

Build strong internal networks across underwriting, actuarial, claims, finance, and technology to ... Product Development: In partnership with MGAs, lead research, design, and implementation of new ...

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Actuary Development Programs information

What are actuary development programs?

Actuary Development Programs are structured training initiatives offered by employers—often insurance companies or consulting firms—to help early-career actuaries gain professional experience and pass actuarial exams. These programs typically provide job rotations, mentorship, exam support, and opportunities to work on real-world projects. The goal is to develop well-rounded actuaries who have both technical skills and business acumen. Participants usually receive study time, financial assistance for exam fees, and guidance from experienced actuaries. Completing an actuary development program can accelerate career progression and help participants achieve professional actuarial credentials.

What kinds of projects and responsibilities can participants expect during an actuary development program?

Participants in Actuary Development Programs typically rotate through several departments, working on projects such as pricing insurance products, analyzing risk, forecasting financial outcomes, and assisting with regulatory compliance. These rotations offer exposure to a variety of actuarial functions, allowing participants to develop technical skills and a broad understanding of the business. Collaboration is common, as you'll often work with underwriters, finance professionals, and IT teams. These programs are structured to provide mentorship, study support for actuarial exams, and progressive responsibility to prepare you for advanced actuarial roles.

What are the key skills and qualifications needed to thrive in actuary development programs, and why are they important?

To thrive in Actuary Development Programs, you need strong analytical and mathematical skills, a bachelor's degree in a related field, and progress toward actuarial exams. Familiarity with actuarial software, data analysis tools like Excel, and proficiency in programming languages such as Python or R is highly valued. Exceptional problem-solving abilities, attention to detail, and effective communication skills help candidates excel in collaborative and client-facing environments. These skills ensure accuracy in risk assessment and modeling, which are crucial for informed decision-making in insurance and financial industries.

What is the difference between Actuary Development Programs vs Actuarial Analysts?

AspectActuary Development ProgramsActuarial Analysts
CredentialsTypically pursuing actuarial exams, often with a degree in mathematics or statisticsUsually have completed some exams or are in the early stages of certification
Work EnvironmentStructured training, mentorship, rotational assignments within insurance or finance companiesPerforming data analysis, pricing, reserving, and reporting tasks
Employer & Industry UsageCommon in insurance, reinsurance, and consulting firms for developing future actuariesFound across insurance, pension, and financial services sectors

Actuary Development Programs are designed to train aspiring actuaries through structured learning and rotations, while Actuarial Analysts focus on performing specific actuarial tasks. The programs aim to develop long-term professionals, whereas analysts are often entry-level or early-career roles supporting actuarial teams.

What are popular job titles related to Actuary Development Programs jobs in Massachusetts?

For Actuary Development Programs jobs in Massachusetts, the most frequently searched job titles are:

What job categories do people searching Actuary Development Programs jobs in Massachusetts look for?

The top searched job categories for Actuary Development Programs jobs in Massachusetts are:

What cities in Massachusetts are hiring for Actuary Development Programs jobs?

Cities in Massachusetts with the most Actuary Development Programs job openings:

Actuary Development Programs jobs near you

Actuarial Analyst (Hybrid)

American Family Mutual Insurance Company Si

Boston, MA • Hybrid

$62K - $103K/yr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 15 days ago

American Family Insurance rating

7.5

Company rating: 7.5 out of 10

Based on 136 frontline employees who took The Breakroom Quiz

226th of 311 rated insurance

Job description

Supports actuarial pricing and ratemaking activities for an assigned line of business. Analyzes loss, premium, and expense experience using actuarial and statistical techniques to inform rate indications, pricing decisions, and portfolio monitoring. Assists in building and maintaining models and tools that help the business develop consistent, sound, and competitive pricing.
In this hybrid, you will be expected to work a minimum of 10 days per month from one of the following office locations: Madison, WI 53783; Boston, MA 02110
Internal candidates are encouraged to apply and should review the internal mobility guidelines in the hybrid policy reference guide for more information.
#LI-Hybrid

Position Compensation Range:

$62,000.00 - $103,000.00

Pay Rate Type:

Salary

Compensation may vary based on the job level and your geographic work location. Relocation support is offered for eligible candidates.

Primary Accountabilities

  • Conducts experience analyses (loss, premium, and expense) and summarizes findings to support pricing strategy and business decisions.
  • Supports competitive and market analysis; helps identify trends, impacts, and opportunities.
  • Assists with actuarial modeling to quantify risk and evaluate pricing alternatives (e.g., indications, relativities, scenario/sensitivity testing).
  • Provides technical support for rate filings with state insurance departments, including documentation and responses to regulatory questions.
  • Supports the rate review process by preparing analyses and materials for pricing meetings and stakeholder discussions.
  • Assists in the development, enhancement, and maintenance of pricing tools, templates, and reporting.
  • Assists with pricing analyses for new products and coverage enhancements

Specialized Knowledge & Skills Requirements

  • Demonstrated experience providing customer-driven solutions, support, or service.
  • Basic understanding of property & casualty insurance products, pricing/rates, and industry trends.
  • Basic understanding of underwriting guidelines and concepts.
  • Demonstrated experience performing statistical/actuarial analysis, forecasting, and modeling.
  • Proficiency in Excel; working knowledge of at least one programming or query language (e.g., SQL/SAS, Python, R, VBA).
  • Pursuing Associate or Fellow of the Casualty Actuarial Society (ACAS/FCAS), with demonstrated exam progress.

Preferred candidates with prior actuarial experience.

Additional Information
  • To ensure a strong start, all employees participate in our New Employee Orientation during their first week. This experience is held in person at our Madison, WI Headquarters or one of our AmFam core locations to help you connect with our mission, meet key team members and build relationships that support your growth. At times, sessions may be delivered virtually based on scheduling and availability.
  • Offer to selected candidate will be made contingent on the results of applicable background checks
  • Offer to selected candidate is contingent on signing a non-disclosure agreement for proprietary information, trade secrets, and inventions
  • Sponsorship will not be considered for this position unless specified in the posting

We provide benefits that support your physical, emotional, and financial wellbeing. You will have access to comprehensive medical, dental, vision and wellbeing benefits that enable you to take care of your health. We also offer a competitive 401(k) contribution, a pension plan, an annual incentive, 9 paid holidays and a paid time off program (23 days accrued annually for full-time employees). In addition, our student loan repayment program and paid-family leave are available to support our employees and their families. Interns and contingent workers are not eligible for American Family Insurance Group benefits.

We are an equal opportunity employer. It is our policy to comply with all applicable federal, state and local laws pertaining to non-discrimination, non-harassment and equal opportunity. We also consider qualified applicants with criminal histories, consistent with applicable federal, state and local law.

American Family Insurance is committed to the full inclusion of all qualified individuals. If a reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please email AskHR@AmFam.com to request a reasonable accommodation.

#LI-MR1

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