Actuarial Pricing Specialist

2 weeks ago

London, Greater London, United Kingdom ERGO Group AG Full time

About Us

At ERGO Group AG, we strive to be a leading Primary Specialty Insurance provider, backed by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.

We are seeking a dynamic professional to support our Head of Pricing and lead a growing team in a collaborative environment. Your insights will aid underwriters in accurate forecasting and identify growth opportunities through portfolio analysis.

Responsibilities

  • Take full responsibility for the Pricing function in respect of the Marine & Specialty underwriting divisions, ensuring all pricing related regulations and requirements are adhered to.
  • Effectively manage, mentor, and support your direct reports, nurturing their career development and ensuring they are provided with the correct level of support and training to achieve their optimum output.
  • Investigate, promote, and embrace innovative ideas to develop and enhance the pricing capabilities within the Marine & Specialty underwriting divisions, including development of real-time MI, use of web-based rating platforms, AI modeling/machine learning, and price optimization.
  • Work closely with the Head of Pricing to steer the development and achieve the ultimate strategic goals for the Pricing team and Actuarial department, ensuring clear communication and effective collaboration.
  • Manage the relationships with the Marine & Specialty underwriters, ensuring a productive working basis that allows the syndicate to remain a competitive, inspirational, and trusted leader in the Lloyd's market, while still delivering profitable results for the business.
  • Develop and manage relationships in the wider Munich group, collaborating and sharing expertise and data sources for mutual benefit.
  • Investigate alternative data sources and strive to build data suites that can be utilized for the parameterization of pricing models and enhancement of modeling techniques.
  • Work independently on individual pricing assessments of large or unique risks, including clear communication of results to the underwriters and challenging the underwriting view if and where necessary.
  • Represent pricing in both internal and external meetings for Marine & Specialty, presenting analyses and providing expertise and advice where required.
  • Build, review, maintain, and enhance pricing models, striving to achieve the optimum balance between rating integrity and market suitability while considering data availability and user capabilities.
  • Regularly review and analyze pricing model data, including rating parameter validations.
  • Provide analyses for new business initiatives and independent portfolio reviews.
  • Ensure all advice offered is in line with the Technical Actuarial Standards (TAS).
  • Help drive forward good conduct for the business to deliver the best outcomes for customers.

Knowledge and Skills

  • Actuarial pricing experience in the London Market.
  • In-depth knowledge, understanding, and practical experience in using a range of actuarial modeling techniques and applications for pricing.
  • In-depth knowledge and understanding of the dynamics and rating considerations for classes of business within the Marine & Specialty divisions.
  • Experience with mentoring junior members of an actuarial team.

Education and Professional Qualifications Required / (preferred)

  • University degree in Mathematics, Actuarial Science, Statistics, Economics, or similar discipline.
  • Qualification as a fellow of the Institute and Faculty of Actuaries or equivalent international body and/or relevant work experience (5+ years) in a dedicated actuarial role.

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