Position Summary:

The Catastrophe Pricing Scientist serves as a subject matter expert in statistical modeling and insurance product research. This role focuses on finding ways to better price our existing product, which can include creating new products from scratch using raw data or adjusting current products. Analysis must be done to understand how these changes impact the current book of business and drive profitability. Necessary statistical techniques include generalized linear models (GLMs) for pricing and clustering methods for territory segmentation. The scientist will lead sophisticated risk pricing analyses using both industry-standard platforms (e.g., Verisk AIR, Moody’s RMS) and proprietary tools.

State specific pay scales for this role are as follows:

$92, 154 to $174,681 (CA, NJ, NY, WA, HI, AK, MD, CT, RI, MA)

$83,776 to $158,801(NV, OR, AZ, CO, WY, TX, ND, MN, MO, IL, WI, FL, GA, MI, OH, VA, PA, DE, VT, NH, ME)

$75,339 to $142,991 (UT, ID, MT, NM, SD, NE, KS, OK, IA, AR, LA, MS, AL, TN, KY, IN, SC, NC, WV)

The expected base salary for this position will vary depending on a number of factors, including relevant experience, skills and location.

Essential Job Functions: 

• Use GLM (generalized linear models) for insurance pricing
• Apply industry-leading catastrophe models and proprietary techniques to assess risks including wildfires, urban conflagrations, fire-following earthquakes, severe convective storms, and hurricanes.
• Collaborate with Actuarial, Research & Development, State Product Management, and Underwriting teams to integrate catastrophe model outputs into pricing workflows.
• Refine model assumptions by adjusting vulnerability curves, applying loss scaling factors, and incorporating proprietary insights and market expertise.
• Enhance catastrophe modeling frameworks to improve the accuracy and reliability of loss estimates used for pricing.
• Partner with cross-functional teams to implement insurance products that align with Mercury’s standards of excellence.
• Provide insights in statistical modeling, including performing data audits, statistical evaluations, and advanced analyses to solve complex insurance challenges.
• Recommend enhancements to existing products and support pricing and modeling updates based on research findings.
• Contribute to the design and development of new insurance products, collaborating with IT, Underwriting, Marketing, and other departments to ensure successful implementation.
• Manage the prioritization and distribution of individual tasks for product development.
• Participate in real-time risk analytics and detailed loss estimation initiatives.
• Deliver training sessions on new products and updates for internal teams as needed.
• Create reports, presentations, and data visualizations to clearly communicate findings to both technical and non-technical audiences.
• Define and manage individual projects in partnership with the Lead.
• Independently prioritize and execute tasks to meet Mercury’s standards of excellence in catastrophe pricing.
• Perform additional responsibilities as assigned.

Education: 

Minimum:   Bachelor's degree with an emphasis analytical concentration such as math, statistics, economics, finance, quantitative research, etc.

Preferred:   Master’s degree with an emphasis in analytical concentration such as math, statistics, economics, finance, quantitative research, etc.

Experience:

Minimum:  5+ years of product development experience or at least 1 year of leadership experience in project management, or an equivalent combination of education and experience.

Preferred: 10+ years of product development experience or at least 5 years of leadership experience in project management, or an equivalent combination of education and experience.

Knowledge and Skills:

Minimum: 

• Hands-on experience with catastrophe modeling platforms such as Verisk (AIR), RMS (Moody’s), or similar.

• Strong ability to analyze complex data sets and interpret model outputs for catastrophe risk pricing.

• Proficiency in calculating key risk metrics such as Average Annual Loss (AAL), Exceedance Probability (EP), Value at Risk (VaR), and Tail Value at Risk (TVaR).

• Experience in financial modeling and actuarial principles.

• Strong communication skills, including the ability to present technical concepts to non-technical audiences.

• Evidence of and commitment to staying current with evolving modeling techniques and industry best practices.

• Self-motivated with excellent critical thinking, problem-solving, and project management skills.

Preferred: 

• Experience in programming languages and analytical tools such as Python, SQL, NumPy, Pandas, SciPy, Dask, or PySpark.

• Experience with probabilistic methods, geospatial analysis, and/or machine learning applications.

• Advanced quantitative skills in insurance pricing and risk analysis.

• Experience in catastrophe risk management including rating, underwriting, and reinsurance strategy.

• Knowledge of climate change impacts on insurance-related risks and familiarity with emerging modeling practices.

Why choose a career at Mercury?

At Mercury, we have been guided by our purpose to help people reduce risk and overcome unexpected events for more than 60 years. We are one team with a common goal to help others. Everyone needs insurance and we can’t imagine a world without it.

Our team will encourage you to grow, make time to have fun, and work together to make great things happen. We embrace the strengths and values of each team member. We believe in having diverse perspectives where everyone is included, to serve customers from all walks of life.

We care about our people, and we mean it. We reward our talented professionals with a competitive salary, bonus potential, and a variety of benefits to help our team members reach their health, retirement, and professional goals.

Learn more about us here: https://www.mercuryinsurance.com/about/careers

We offer many great benefits, including:

Competitive compensation
Flexibility to work from anywhere in the United States for most positions
Paid time off (vacation time, sick time, 9 paid Company holidays, volunteer hours)
Incentive bonus programs (potential for holiday bonus, referral bonus, and performance-based bonus)
Medical, dental, vision, life, and pet insurance
401 (k) retirement savings plan with company match
Engaging work environment
Promotional opportunities
Education assistance
Professional and personal development opportunities
Company recognition program
Health and wellbeing resources, including free mental wellbeing therapy/coaching sessions, child and eldercare resources, and more
Mercury Insurance is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by federal, state, or local law.