Turo

Lead Actuary

California, United States

Turo Logo
Not SpecifiedCompensation
Expert & Leadership (9+ years)Experience Level
Full TimeJob Type
UnknownVisa
InsuranceIndustries

Requirements

Candidates should possess a Bachelor's degree in mathematics or statistics, ideally, and have at least 7 years of actuarial experience. An Associate of the Casualty Actuarial Society (ACAS) credential is required, and a Master's degree is preferred. Strong skills in advanced actuarial, mathematical, and statistical techniques are necessary, along with experience utilizing data analysis tools such as Python, R, SQL, SAS, and BI tools. Demonstrated experience in communicating complex solutions to both technical and non-technical audiences, including executive leadership, is also essential.

Responsibilities

The Lead Actuary will apply advanced actuarial knowledge to support broad and complex projects, including evaluating and selecting methodologies for cost forecasting and developing alternative methodologies to comply with regulatory requirements. They will independently run liability attritional and large loss models, interpret results, and communicate them to support critical business activities. The role involves leading special actuarial projects, training analytics and data team members, identifying compliance gaps, recommending solutions, and representing the Actuary in cross-functional efforts. Additionally, the Lead Actuary will develop written communication and presentations, support financial audits, and ensure risks associated with business activities are effectively identified and controlled.

Skills

Actuarial Analysis
Risk Modeling
Loss Cost Forecasting
Regulatory Compliance
Model Performance Monitoring
Liability and Large Loss Modeling
Data Analysis
Statistical Techniques
Methodology Development
Communication and Presentation
Cross-functional Collaboration

Turo

Peer-to-peer car sharing platform for rentals

About Turo

Turo operates in the peer-to-peer car sharing market, allowing private car owners to rent out their vehicles to others. Car owners can list their vehicles on Turo’s platform, where they set their own rental prices and availability. Renters can browse these listings, select a vehicle that meets their needs, and book it for a specific time. Turo facilitates the transaction by providing insurance coverage and customer support, ensuring a smooth experience for both car owners and renters. The company earns revenue by taking a percentage of the rental fee, which aligns its interests with those of its users. Turo stands out from competitors by offering a diverse range of vehicles, including everyday cars, luxury, and specialty options. The goal of Turo is to provide a flexible and cost-effective alternative to traditional car rental services, leveraging the sharing economy to connect car owners with renters.

Key Metrics

San Francisco, CaliforniaHeadquarters
2009Year Founded
$451.3MTotal Funding
POST_IPO_EQUITYCompany Stage
Automotive & Transportation, Consumer GoodsIndustries
1,001-5,000Employees

Risks

Negative incidents involving rented vehicles could damage Turo's reputation.
New competitors like ZEV co-op could capture market share with eco-friendly models.
Market volatility could impact Turo's IPO plans and investor confidence.

Differentiation

Turo offers a wide variety of vehicles, from everyday to luxury models.
The platform provides a cost-effective alternative to traditional car rental services.
Turo's commission-based model aligns its interests with users' successful transactions.

Upsides

Turo's partnership with United Airlines enhances customer acquisition and retention.
Expansion in Australia indicates potential for further international market penetration.
Winning the unitQ Quality Excellence Award highlights Turo's commitment to customer experience.

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