Pricing Actuary

2 months ago

London, Greater London, United Kingdom Chaucer Group Full time
Job summary

The Pricing Actuary will provide pricing support for Chaucer's growing Treaty portfolio (Property, Specialty and Casualty Treaty) and Partnership and Innovation portfolios across London and International offices. The Pricing Actuary will work closely with other divisional actuaries across divisions to balance workload, broaden experience and facilitate consistency of approach. The Pricing Actuary will have responsibility for managing and overseeing the delivery of pricing KPI and performance reporting up to Underwriting Committee level, with the support of a direct report.

The role will be strongly underwriter and client-facing, incorporating support for broker and reinsurer negotiations, individual case pricing support, leading the development of pricing models, developing portfolio analytics capabilities, supporting strategic projects and developing new pricing capabilities. The Pricing Actuary will also provide pricing support for other classes and Group-wide projects as required.

The successful applicant will have strong technical pricing skills and strong project management and communication skills in order to provide effective broker and client support, manage and deliver across multiple workstreams, secure buy-in for new initiatives and provide effective reporting to the Underwriting Committee.

The Pricing Actuary will be located within the Actuarial pricing team in London and work directly with the underwriting teams and other pricing actuaries under the guidance of the Head of Pricing / Reinsurance Pricing Manager / Insurance Pricing Manager.

Main duties

Develop, support and provide oversight across pricing activities, working collaboratively with the Head of Pricing / Reinsurance Pricing Manager / Insurance Pricing Manager and other Pricing Actuaries. To include:
  • Account pricing and underwriter support for broker and reinsurer negotiations
  • Managing the preparation of quarterly reports up to Underwriting Committee level ensuring that any deviations from targets are explained effectively and succinctly
  • Line management of one direct report
  • Outwards reinsurance optimisation
  • Pricing model and other tool development, in line with Actuarial pricing frameworks and technological solutions
  • Pricing analytics and MI development and making use of available data to support risk selection and portfolio optimisation more generally
  • Support for deep dives, model usage reviews, portfolio monitoring / steering
  • Train underwriters in use of models, review their work and supervise model development by underwriting staff
  • Ensure alignment of pricing with evolving exposure management practices and 'Own View of Risk' frameworks. Provide input into the development of modelling approaches where appropriate
  • Development of a deep understanding of the Treaty classes, trends and underwriting team strategies
  • Keep abreast of industry initiatives, provide thought leadership, develop new pricing/visualisation techniques and best practice where opportunities arise
  • Work collaboratively with underwriters, the pricing team and underwriting management
  • Present and share knowledge with the wider Actuarial team on pricing approaches
  • Assistance for other pricing team activities as required
  • Project management of more junior team members & actuarial contributions to cross functional projects
Our requirements

Relevant experience
  • Essential Strong London Market pricing experience
  • Desirable Project Management and Management experience
Reporting experience to Senior Management

Predictive analytics working with large datasets

Technical skills
  • Essential Strong IT skills, including comprehensive knowledge of Excel
  • Desirable Python, SQL, VBA, R
Education & Experience

Essential
  • Qualified/Nearly Qualified Actuary
  • 2.1 or 1st degree in Mathematics or Mathematics-related subject (e.g. Physics, Engineering, Statistics)
  • 3 or more strong 'A' levels, including Maths
Personal Skills
  • Strong stakeholder and project management skills.
  • Strong interpersonal, verbal and written skills
  • Able to collaborate, work as a team and communicate with staff at all levels
  • Intellectually curious and results-oriented with a strong sense of responsibility
  • Attention to detail
  • Self-motivated, hard-working and committed
  • Able to collaborate, work as a team and communicate with staff at all levels
  • Flexible and adaptable
Other responsibilities
  • Some travel in support of Underwriter/Client meetings and travel to Chaucer underwriting offices may be required.
ABOUT US

Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.

Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).

A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.

We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.

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