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Palo Alto, California

Head Actuary

Next Insurance is a well-funded 100+ person startup based in Palo Alto, California, led by a team of experienced entrepreneurs with a big success under their belt. Our mission is to transform insurance for small businesses by combining world class technology and phenomenal customer service to offer better insurance at a lower price. Our goal is to make insurance simple, affordable, and transparent for small businesses so they can stop worrying about insurance and focus on running their businesses. We're growing fast and want to strike a thoughtful balance between leveraging the industry’s experience in assessing and pricing risk and thinking out of the box to do so in new ways. This is a highly visible position that will report to our Head of Insurance Product and work closely with colleagues at all levels. The Insurance Product team is responsible for designing and developing Insurance Products our company offers to US small businesses – and the team’s work is central and critical to the company’s success. The Head Actuary will help inject industry experience into a team of creative thinkers – and help guide our experimentation and innovation in the areas of pricing and reserving.


Be a thought partner to the Head of Insurance Product, Underwriting Lead, and Insurance Product Managers – influence design of new insurance products, support product filing, guide our pricing strategy. This role would span all lines of business we are active in / plan to expand into (General / Professional Liability, Workers Comp, Commercial Auto, Commercial Property, and others)

Research key risks relevant to each of our products as we build out an offering to become a one-stop shop for small business owners in verticals including construction, personal/professional services, retail and others. Work with the team to price these risks intelligently and creatively

Partner with our Data Science team to build innovative ways of assessing risk and implement models in filed rates

Build reserving models and educate/inform executive team on actuarial techniques and projected, ultimate loss ratios

Work with our CFO to establish and monitor reserves and solvency requirements for Next as a carrier

Desired Skills and Experience:

BA/BS degree, FCAS designation

8+ year of work experience, 5+ years of experience in a Small Commercial Insurance Actuarial role

Expertise in multiple Small Commercial Lines of Business

Experience advising on both pricing, reserving, and (ideally) rate filing

Outstanding communication skills and an ability to clearly explain/teach complex insurance terms and techniques

Ability to research filings using SERFF and SNL and replicate / stress test rating algorithms required

Familiarity with reviewing and monitoring Bureau Circulars, i.e. NCCI, ISO, and AAIS is preferred.

Ability to lead a team and build a core insurance function within a growing company from scratch

A passion for reinventing the industry – a burning desire to work in a fast-paced startup environment that is challenging the traditional way of doing business that is challenging the traditional way of doing business

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