Pricing Actuary - Treaty Insurance

Job Description

Pricing Actuary - Treaty

Job Market: Insurance Pricing / Actuarial

Pricing Actuary - Treaty: About the role

The Pricing Actuary provides support primarily for the Treaty underwriting teams, including the development of Actuarial pricing and portfolio analytics capabilities for the Treaty portfolio (across Property, Specialty and Casualty Treaty). This includes individual case pricing support, peer review and the development of pricing models. The role involves collaboration with other functional areas across the business to develop integrated modelling approaches.

The successful applicant will have strong communication skills and commercial awareness to provide effective underwriter, broker, and client support.

Pricing Actuary - Treaty: Key duties

To work closely with underwriting teams, providing case pricing and other support for broker negotiations

Train underwriters in use of model and peer review their work to ensure robustness of the pricing assumptions and methodologies adopted

Make full use of available data to inform underwriting decision-making and portfolio management through continued development of pricing models and tools (e.g. development of pricing models, tools and reports to evaluate risk profitability, portfolio construction and optimisation, capital efficiency and marginal pricing modelling approaches)

Ensure alignment of pricing with evolving exposure management practices and 'Own View of Risk’ frameworks, providing input into the development of modelling approaches where appropriate

Ongoing portfolio monitoring

Outwards reinsurance optimisation

Contribute to the development of streamlined, efficient pricing processes utilising new technologies

Support the collection, maintenance, and exploration of pricing data

Development of a deep understanding of the classes, trends, and underwriting team strategy

Keep abreast of industry initiatives and develop new pricing/visualisation techniques and best practice where opportunities arise

Contribute to cross functional projects requiring Actuarial input as required

Pricing Actuary - Treaty: Key requirements

FIA qualification (or close to) or equivalent

Strong London Market pricing experience

Experience with long-tail classes and / or reinsurance pricing

Strong IT skills, including comprehensive knowledge of Excel and VBA (R, @Risk, SQL would be advantageous)

2.1 or 1st degree in a Maths or Maths-related subject (e.g. Physics, Engineering, Statistics)

3 or more strong 'A’ levels, including Maths Desirable

Strong stakeholder management skills. (The role will involve supporting multiple underwriting teams and managing actuarial project workstreams)