Reinsurance Actuarial Consultant - Chicago Illinois

Company: Aon Hewitt
Location: Chicago, Illinois
Posted On: 01/14/2025

Actuarial Consultant/Data Science Consultant-STGAon's Strategy and Technology Group (STG) are seeking an experienced actuarial/data science student to join their team and help to accelerate the development of their actuarial advisory business focused on clients in the insurance and reinsurance industries. This is a unique opportunity to be a key part of scaling a leading differentiated consulting business. STG is Aon's new global consulting and technology business focused on, but not limited to, insurance and reinsurance companies and other participants in the insurance industry. This role will help drive our Pricing and Predictive Analytics offering.This is a hybrid role in Chicago IL or New York New York. Other Locations will be considered.Aon is in the business of better decisionsAt Aon, we shape decisions for the better to protect and enrich the lives of people around the world. As an organization, we are united through trust as one inclusive, diverse team, and we are passionate about helping our colleagues and clients succeed.What the day will look like:

• Successfully grow our insurance and reinsurance actuarial advisory revenue base. Support efforts to prospect new business as directed by senior team members, including:
• Conducting various analysis of prospect companies using public data.
• Using advanced analytics to help solve client business problems, primarily related to Pricing applications including building out new pricing/rating plans to increase segmentation and help improve client loss ratios.
• Developing targeted content to address identified client/prospect needs.
• Calling on internal and external networks and stakeholders to generate leads and sales.
• Contribute to delivery of complex actuarial advisory services to insurers and reinsurers while communicating with clients about projects and deliverables.
• Deliver client presentations and build personal and technical expertise to become recognized as an expert inside of Aon.
• Support management leadership and comply with Company policies and procedures.
• Explain complex technical matters to team members, clients, and management. Candidates must lead by example.How this opportunity is different:Your role will include participating in client account management, allowing you to build and manage strong and sustainable relationships with clients, and will require you to respond to the needs and objectives of leadership of Aon's insurance and reinsurance practices. The role is for an individual with a strong analytics background who is interested in actuarial and strategic consulting to insurers and reinsurers. Candidates will help consulting teams achieve successful actuarial engagements including modeling, pricing, reserving, portfolio optimization, growth, and product design optimizing outcomes for clients. Positive outcomes are highly correlated with strong teamwork.You Bring Knowledge and ExpertiseCandidates should have an understanding of how data science is incorporated within insurance or reinsurance companies. The role is for an individual with a strong analytics background. Candidates should be prepared to regularly participate in technical discussions in client meetings and be able to articulate various risk and reward trade-offs.Required Skills and Qualifications
  • 3+ years of experience in predictive modeling, advanced analytics, or data analytics preferably in property/casualty insurance, reinsurance, or consulting.
  • Proficiency in R, SQL, Python, or similar languages.
  • Proficiency in statistical modeling techniques such as GLM, GAM, GBM, decision trees, linear regression, logistic regression.
  • 3-5 exams towards ACAS, FCAS or similar actuarial credential or advanced technical degree in a related field.
  • Proficiency in MS Office suite, particularly Excel and PowerPoint.
  • Advanced degree in Statistics, Math, Actuarial Science, or related preferred.How we support our colleaguesIn addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two "Global Wellbeing Days" each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions, but we also recognize that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working!Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.Aon values an innovative, diverse workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.Aon provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status.We welcome applications from all and provide individuals with disabilities with reasonable adjustments to participate in the job application, interview process and to perform essential job functions once onboard. If you would like to learn more about the reasonable accommodations we provide, email Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.Pay Transparency Laws:The salary range for this position intended for U.S. applicants is $75k-$115k annually. The actual salary will vary based on applicant's education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted based on applicant's geographic location. The salary range reflected is based on a primary work location of State/Region. The actual salary may vary for applicants in a different geographic location.This position is eligible to participate in one of Aon's annual incentive plans to receive [an annual discretionary bonus] in addition to base salary. The amount of any [bonus] varies and is subject to the terms and conditions of the applicable incentive plan.Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon's discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions. Eligibility for benefits is governed by the applicable plan documents and policies.#LI-KT1#LI-HYBRID
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