Pricing Actuary

  • 35735
  • Non-Life - Actuarial
  • |
  • England
  • |
  • Aug 29, 2019
Insurance
RESPONSIBILITIES
  • Provide actuarial pricing support to all underwriting divisions of the company.
  • Price specific risks according to underwriting guidelines, as required by underwriters, in particular assisting the Specialty & Financial Lines, Marine, Energy, UK, Europe, Canadian and Reinsurance underwriting divisions.
  • Actively build relationships with underwriters and seek areas where the pricing team can add value.
  • Provide actuarial input into the pricing and structure of reinsurance programs.
  • Recommend ongoing data requirements to improve future pricing.
  • Discuss current pricing methods and rate monitoring with regulators and rating agencies.
  • Provide guidance to senior management to assist them in formulating their strategy on selected lines of business.
  • Use the business plan and capital model output to set profitability targets by class of business and monitor pricing model output against these targets.
  • Assist in producing the annual Actuarial Function reports on underwriting and reinsurance adequacy.
  • Review rate monitoring systems regularly to ensure that this output is accurate.
  • Develop the link between pricing knowledge and the reserving process and feed reserving results into pricing.
  • Review rating matrices and manuals on selected product lines as requested by underwriters and management.
  • Prioritize and project manage the development and implementation of new and existing rating engines.
  • Work with underwriters on new product development.
QUALIFICATIONS
  • Be a qualified member of the Institute and Faculty of Actuaries.
  • Demonstrate extensive knowledge and experience of working within the Lloyd’s market.
  • Have experience of supervising and/or managing actuarial students and reviewing their work.
  • Have experience in leading projects and delivering success.
  • Have excellent IT skills - especially Excel, VBA, @Risk and SQL.
  • Have knowledge or willingness to learn R, Python or other analytical tools.
  • Will display excellent analytical, negotiation and decision making skills.