Head Actuary

Sana Benefits

Sana Benefits

Posted on Saturday, May 13, 2023
Our health system is broken, and it’s a huge problem. Costs are rising out of control while the patient experience gets worse. At Sana, we're passionate about fixing this problem by bringing accessible and affordable health plans to small and medium businesses. We've built an innovative team with top talent from across the health insurance and tech industries to create engaging, modern plans for our clients. This allows our customers to offer competitive benefits packages while paying an average of 20% less than traditional plans.
We are seeking a Head Actuary to manage Sana’s core actuarial functions, including pricing, reserving, and consulting on strategic initiatives related to underwriting, reinsurance, plan design, regulatory strategy, provider contracting, integrated care delivery, and state expansion. The ideal candidate possesses significant experience in the medical stop loss industry and demonstrated experience leading high performing actuarial teams. At the same time, that person brings a collaborative and flexible entrepreneurial mindset that is critical in a startup environment. Reporting to the Chief Operating Officer, this role serves as a key member of the Sana’s operational leadership team and works closely with management in Finance, Product, Engineering, MGU Operations, Legal, Sales, Network Development, and Customer Success.
We are building a distributed operations team and encourage all applicants to apply, regardless of location.

What you will do

  • Own the strategic vision and delivery of excellent work for the Actuarial Team. You will lead a critical aspect of Sana’s business and work cross-functionally to craft a plan to achieve our strategic priorities.
  • Lead and continue to build a high performing team consisting of actuaries and actuarial analysts. Develop and foster plans for team team members’ continued career growth through regular coaching, consistent 1:1s, feedback sessions, problem solving, and Q&A during normal business hours.
  • Manage the long-term performance of Sana’s medical stop loss and captive loss ratios while owning the day-to-day functions related to our rate manual, predictive analytics partners, pricing, and reserving.
  • Support our Finance team by issuing actuarial opinions regarding Sana’s written insurance contracts, including loss ratio projections and sufficiency of reserves and capital.
  • Contribute meaningfully to the development of our insurance products: policy contracts, rate plans, actuarial factors and rating methods, state filings, expense ratio analysis, and consult on underwriting rules.
  • Work cross-functionally with a variety of stakeholders to support strategic initiatives related to financial forecasting, underwriting, data analytics, regulatory strategy, provider contracting, care delivery, partnerships and product development, such as collaborating with other teams on underwriting guidelines, discounting programs, reinsurance treaties, ad hoc data requests from fronting carriers, etc.
  • Manage ad hoc trade-offs on difficult underwriting, pricing or reserving issues with the right blend of judgment and data-informed decision-making, including any escalations during normal business hours.
  • Develop a deep understanding of Sana’s claims data in order to deliver insightful, detailed analyses on all things related to the actuarial function at Sana.
  • Responsible for monthly as well as ad hoc reporting on our underwriting performance, loss ratio results, and other relevant findings to core stakeholders, from external parties such as reinsurance partners and fronting carriers to internal stakeholders such as our Data, Finance, and leadership teams across all departments.
  • Drive innovation in Sana’s predictive modeling and data analysis tools and methods in collaboration with our Product, Data, and Engineering teams.

About You

  • 10+ years of relevant work experience, of which a meaningful portion must be in the major medical and/or stop loss industry, and credentialed actuary (ASA or FSA, MAAA). Bonus points for prior experience in high-growth startups and/or the Insurtech space.
  • Exceptional analytical skills with a demonstrated ability to look at data on a regular basis to find trends, drill-down into cases as needed, and to take data-informed action accordingly. Experience with SQL, Excel, business intelligence tools such as Tableau, and at least one language used in data science applications (Python, R, etc.) is required.
  • Proficient in the financial reporting requirements of insurance companies, including statutory, GAAP, and tax reporting.
  • Excellent people manager and strong team player with a track record of working cross-functionally. You know how to identify, recruit, and maximize your team’s talent. People love working with and for you.
  • Outstanding communication skills in-person, over the phone, in writing, via email, chat, carrier pigeon, etc.
  • Values-oriented. You care deeply about making our healthcare system work better for people and business owners.
  • Unparalleled attention to detail. You love getting into the weeds to get things done.
  • Fast learner. Entrepreneurial. Self-directed. Excited to build something from scratch.
  • Gritty. You’re willing to jump into any of the team’s work and support. We’re a small team and sometimes when a few of us are out, we all need to help fill in for each other.
  • Unfazed by change. We are a startup and need people who are ok doing things outside of their traditional job description. We need someone comfortable in challenging the processes and approaches taken by legacy carriers, as we aren't here to simply improve on what's been done incrementally.
  • Comfortable with modern web applications. We are building all of our software in-house and you will be a key constituent in its development.


  • Competitive salary
  • Stock options in rapidly scaling startup
  • Flexible vacation
  • Medical, dental, and vision Insurance
  • 401(k) and HSA plans
  • Parental leave
  • Wellness program
  • Opportunity for career growth
  • Dynamic start-up environment
About Sana
Sana is a modern health plan solution for small and medium businesses. We use a more efficient financing structure and integrated technology solutions to cut out wasteful spending and get members access to better quality care at lower cost. Founded in 2017, we are an experienced team of engineers, designers and health system operators. We have the financial backing of Silicon Valley venture firms and innovative reinsurance partners. If you are excited about building something new and being a part of fixing our broken healthcare system from the inside, please reach out!