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Insurance Quant Jobs in Minnesota (NOW HIRING)

Simos

Production Associate

Minneapolis, MN · On-site

$20/hr

Medical / Dental Insurance * Paid Time Off * $20.00 / Hour Employment Type & Shifts * Temp to Hire ... Personal Skills - Quantitative Skills * Personal Skills- Reading/Comprehension * Personal Skills ...

U.S. Bank

Capital Markets Research Analyst

Minneapolis, MN · On-site

$92.82K - $109.20K/yr

S. Bank Wealth Management deploys quantitative and qualitative analysis across primary asset ... Basic term and optional term life insurance * Short-term and long-term disability * Pregnancy ...

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Insurance Quant information

What are the key skills and qualifications needed to thrive as an Insurance Quant, and why are they important?

To thrive as an Insurance Quant, you need strong quantitative skills, a background in mathematics, statistics, or actuarial science, and often an advanced degree such as a master's or PhD. Proficiency with programming languages (like Python or R), statistical modeling tools, and actuarial software is typically required, along with relevant certifications such as actuarial credentials (e.g., SOA, CAS). Excellent problem-solving abilities, attention to detail, and the capacity to communicate complex analyses to non-technical stakeholders are standout soft skills. These competencies are critical for accurately assessing risk, pricing insurance products, and supporting data-driven decision-making in the insurance industry.

How does an Insurance Quant typically collaborate with underwriters and actuaries in their daily work?

An Insurance Quant frequently works alongside underwriters and actuaries to analyze risks, develop pricing models, and evaluate policy portfolios. Collaboration often involves sharing statistical insights, validating risk assumptions, and refining predictive models to ensure accurate and competitive insurance products. Regular meetings and data-sharing sessions help align quantitative findings with business objectives, enabling the team to make informed decisions on product design, pricing, and risk management. This close teamwork is crucial for integrating advanced analytics into traditional insurance processes and driving innovation within the organization.

What are insurance quants?

Insurance quants, or quantitative analysts in the insurance industry, use mathematical, statistical, and computational methods to analyze risk, price insurance products, and optimize investment strategies for insurance companies. They develop models to assess the likelihood of claims, determine appropriate premiums, and ensure the company's financial stability. Insurance quants often work closely with actuaries, but focus more on advanced quantitative techniques and financial modeling. Their work helps insurance firms make data-driven decisions and maintain competitiveness in the marketplace.

What is a quant in insurance?

An insurance quant is a professional who applies mathematical, statistical, and financial models to assess risk, price policies, and develop strategies for insurance companies. They often use programming tools like R or Python and require strong analytical skills to interpret large data sets and improve underwriting and risk management processes.

What is the difference between Insurance Quant vs Actuary?

AspectInsurance QuantActuary
Required CredentialsAdvanced degrees in mathematics, statistics, or finance; often CFA or FRM certificationsProfessional actuarial certifications (SOA, CAS), exams required
Work EnvironmentQuantitative teams within insurance companies, hedge funds, or consulting firmsInsurance companies, consulting firms, government agencies
Job FocusDeveloping models for risk assessment, pricing, and financial strategiesCalculating insurance premiums, reserving, and risk management
Common Search/ComparisonInsurance Quant vs Actuary

Insurance Quants and Actuaries both work in the insurance industry with a focus on risk and financial modeling. Quants typically use advanced mathematics and programming to develop models, while actuaries focus on pricing and reserving using actuarial exams and certifications. Both roles require strong quantitative skills, but their daily tasks and certifications differ.

What are popular job titles related to Insurance Quant jobs in Minnesota? For Insurance Quant jobs in Minnesota, the most frequently searched job titles are:
What job categories do people searching Insurance Quant jobs in Minnesota look for? The top searched job categories for Insurance Quant jobs in Minnesota are:
What cities in Minnesota are hiring for Insurance Quant jobs? Cities in Minnesota with the most Insurance Quant job openings:
Insurance Quant jobs near you

AVP, Actuarial Pricing

Archgroup

Saint Paul, MN

$153K - $207K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 5 days ago

Job description

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility.

Your Role

You will provide actuarial support to the Entertainment Business Unit. This division highly values actuarial support, in both quantitative & qualitative capacities. The AVP Actuary will lead a team of actuaries to partner with business to deliver actuarial insights, develop actionable strategies, monitor executions and leading indicators to assess business health.

  • Profitability Reviews: Review products including Auto, GL, Property, Inland Marine, Workers Comp, Umbrella by applying actuarial techniques to determine portfolio profitability; analyzing and digging into detailed segmentations.
  • Large Account Pricing: Provide actuarial premium recommendation on large new and renewal accounts.
  • Monitor and Reporting: Monitor portfolio rate change, pricing adequacy and underwriting mix change on new and renewal business to help Program/Underwriting Managers make data-driven decisions.
  • Actuarial Studies: Analyses and research to improve pricing parameters, methodologies and segmentations to better identify profitable opportunities and improve mix.
  • Tool Building: Our team thrives on innovation. You will design, program, and maintain critical tools used in pricing, and book monitoring
  • Leadership: Identify and nurture future leaders, provide them with regular coaching and opportunities to lead.
Why work at Arch
  • Opportunity: No experience minimums or waiting your turn. Arch has a lot of opportunity because of our growth and entrepreneurialism, and many Arch actuaries have been promoted within current roles in recognition of outstanding performance.
  • Exam program: Up to $75k of raises available, and flexibility and support so you can study and pass.
  • Flat structure: You will present to business unit leaders and senior actuarial executives, and your insights will make a difference.
Key Evaluation Criteria
  • P&C Actuarial qualifications: ACAS, FCAS, or similarly qualified professional
  • 8+ years of relevant experience, demonstrated ability in actuarial and quantitative analysis and statistical concepts
  • Business Acumen: In-depth understanding and knowledge of key business drivers and disciplines in underwriting, products, reinsurance, claims, and financials.
  • Software skills: Strong programming skills, such as Python, SQL, VBA for building tools and advanced research
  • Leadership: Thought leader and innovator, strength and experience as a teacher, manager, peer, leader and contributor to a positive culture. Takes ownership of strategic initiatives and ability to influence business outcomes
  • Communication and Partnership: Excellent communication, collaboration, and relationship-building skills

For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.

For JC, NYC: $160,000 - $224,000/year
For Chicago, Hartford, St. Paul: $153,000 - $207,000/year

  • Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.

  • Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more. Click here to learn more on available benefits.

Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you.If this job isn't the right fit but you're interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch's Talent Acquisition team.

14400 Arch Insurance Group Inc.

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