Meet Ming Chen
I joined Arch in July 2019, leading the Small Commercial and Actuarial Rate Filing team. I was excited to be part of shaping a novel unit and impacting business strategy. I built this unit from the ground up, by transforming our processes to improve efficiency and free up our capacity to expand our support to almost all of our admitted businesses. My role was expanded in July 2021 with additional leadership responsibility for P&C Programs Pricing.
I started my career at Travelers in an Actuarial Leadership Development Program that helped me develop an understanding of various property casualty insurance products, actuarial knowledge and techniques, and presentation, business writing and leadership skills. I then moved to Chubb, working as a Claims Actuary using data analytics to help claim managers monitor and gain insights into various emerging trends or anomalies to help them achieve optimal claims outcomes. This experience helped me understand insurance operations from the perspective of Claims. I then moved to AIG, where I built a team from scratch, focusing on developing pricing models for various Primary and Excess Casualty insurance products.
Empowerment and Service Mindset
I pursue better together for my customers internally and externally by empowering my team to take ownership and foster a service mindset.
Empowering each actuary on my team to take ownership in supporting our businesses promotes a stronger sense of commitment. It enables each actuary to live and breathe their business and develop a deep understanding of our insureds, exposure, coverage, market competition, pricing, underwriting and operations. With this ownership and in-depth business knowledge, our actuaries are better able to respond to customers’ needs and provide more useful and actionable advice based on the insights from data and analytics. Empowerment is motivating. It makes team members want to go the extra mile because they understand why our work is important to our business partners and how we can contribute to our business’ success. It’s also an effective lever for improving our customer satisfaction.
I also foster a service mindset in my team. I consider each interaction with external customers as an opportunity to build the Arch brand, while each interaction with internal customers is an opportunity to build our departmental and personal reputation.
Arch is the place for you.
Arch is family friendly, growth-oriented and lives the values it seeks to embody. If you are a collaborative, innovative and motivated individual who is interested in insurance, Arch is the right place for you. Arch values innovative ideas from diverse perspectives and provides opportunities to experiment — with permission to fail quickly and learn from it.
My best business advice is to embrace the power of teamwork. Be curious, engaged and enjoy what you do.
Moving into uncharted territory can be scary. My experience in establishing new teams in pursuit of innovative business goals has shown me how rewarding it is to take on novel challenges.
I look forward to meeting the challenges of future initiatives and continuing to empower my Arch teammates.
VP, P&C Programs Pricing and Small Commercial Product Development
Arch Insurance | Jersey City, N.J.