Pricing Actuary

2 months ago

London, United Kingdom AXIS Insurance Full time

This is your opportunity to join AXIS Capital - a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry.

At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.

ABOUT US

We are a global insurer and reinsurer, providing clients and distribution partners with a broad range of specialized risk transfer products and services. It offers various risk transfer products and services through subsidiaries and branch networks in Bermuda, the United States, Canada, Europe, Australia and Singapore.

The company offers insurance services including Property, Professional Lines, Terrorism, Marine, Energy, Environmental and other insurance solutions. The reinsurance services include property, professional lines, credit and bond, and others.

At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.
- The AXIS pricing team is closely aligned to the divisional underwriting structure, providing embedded support to each of the underwriting units. The team provides analytical capability in pricing and exposure modelling in respect of all business written through the Global Markets division.

This role will be working with the Specialty business unit which includes Marine Liability, Cargo, Specie, and Aviation. The primary focus will be on providing support to the Marine Liability portfolio (Marine & Energy Liability, P&I Clubs, Marine War, Ports & Terminals, plus other sub-classes). This underwriting team write worldwide business on both syndicate and company paper. This role also offers the opportunity to get involved in many cross-divisional pricing initiatives and work alongside different areas of the business.

AXIS will provide study support for the completion of actuarial examinations (if applicable)

Key responsibilities

The pricing team at AXIS has responsibility for the following:

- Working closely with underwriters to scope, build, develop, document and maintain rating models and methods; training and support around best practice model use.
- Detailed product monitoring and segmental reviews within classes of business to objectively assess profitability; provide evidence-based conclusions and recommendations for strategic changes, underwriting actions and portfolio optimisation.
- Providing actuarial pricing recommendations regarding risk selection, contract structure, coverage and pricing for individual deals.
- Input into the business planning process for the AXIS Group and legal entities - primarily to determine gross of reinsurance loss picks, but also to inform assumptions around the efficacy of, and recoverability from, different outwards reinsurance programme structures.
- Monitor the quality and accuracy of rate monitoring data produced by rating models and/or transactional case pricing. Quantify the technical adequacy of rates required to meet targeted returns on capital.
- Collaborating with the pricing systems and data & analytics teams to deliver on longer term goals relating to upgrading databases, dataflows and analytical output
- Evaluating the impact of market conditions and rate change. Analysis and research into the rating environment and market behaviour within key business lines.
- Assessment and modelling of potential aggregations of risk.
- Monitoring the execution of underwriting actions and strategy implementation; assessing the impact of these on the account’s profile and emerging claims experience.
- Maintain the feedback loop (control cycle) and provision of information and analysis between the pricing, reserving, capital modelling and business planning processes.

Qualifications and experience
- At least three years’ experience in a general insurance actuarial role; consultancy or company. London Market and pricing background highly desired.

Technical skills
- Competent user of Excel, Word and Powerpoint. An advantage will be demonstration of skills and experience of: o programming - automation, database management and statistical packages (SQL, R, Python, VBA etc) o pricing model build and development
- An understanding of the standard reserving and pricing methods used in the London Market for open market and delegated authority business. How the London market operates and the key issues and trends.
- Thoroughness, attention to detail, an

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