Insurance Pricing Specialist
4 days ago
At Munich Re Specialty Group, we're driven by individuality and intellectual curiosity. We believe that a diverse range of perspectives and backgrounds empowers our employees to make an impact, motivating us to perform at our best.
Munich Re Specialty Group is part of the Munich RE group, known for our dedication to excellence and quality of service provision across primary and reinsurance markets. Our global network operates in various locations, including the UK, Ireland, the United States, Asia, and more.
We offer solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit, Property, Contingency, and Yacht. Our purpose is to inspire clients and people with confidence and freedom to explore, create, and build – enabling them to thrive.
Pricing Actuary Responsibilities- Independently work on individual pricing assessments of large risks and binder reviews, clearly communicating results to underwriters.
- Support the pricing team in achieving high standards within the Lloyd's oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts.
- Construct, review, and maintain pricing models for varied classes of business.
- Analyze pricing model data, including parameter validations.
- Support syndicate business planning processes.
- Produce and review pricing management information.
- Conduct new business initiative analyses and independent reviews.
- Investigate alternative data sources for parameterization of pricing models.
- Support underwriting within portfolio analyses and performance management.
- Ensure advice offered aligns with TAS requirements.
- Drive good Conduct for the business to deliver best outcomes for customers/policyholders.
- Understand lines of escalation and responsibilities of relevant groups.
Knowledge and Skills
- Qualified actuary by exams or extensive experience.
- Cyber insurance experience an advantage.
- Developed mathematical/statistical knowledge in (re)insurance.
- Effective communication skills, translating complex models into business terms.
- Strong business acumen and interpersonal skills.
- Team player, willing to train junior members.
- Detailed knowledge of actuarial methods and techniques, applying them in practice.
- Range of modelling techniques and applications for pricing.
- Willingness to continue developing knowledge of pricing-related matters.
- FCA regulations and understanding of insurance principles.
You'll find flexibility, development, and support to excel your career, combined with a competitive salary (£80,000 - £110,000 per annum) and benefits package promoting wellbeing and work-life balance, including a non-contributory pension, private medical care, life assurance, and more.
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