Pricing Actuary

£192000 - £240000 per annum
07 Oct 2020
06 Nov 2020
Greg McKenzie
Job Function
Actuary, Pricing Actuary
Contract Type

The role

The delivery of the Insurance Actuarial Team's pricing and reserving objectives. To provide high quality statistical analysis and analytical support.

Key accountabilities

  • In compliance with Group Pricing Standards, Provision of actuarial support to underwriters and their customers in the pricing of individual accounts
  • Conduct of portfolio analyses and other appropriate actuarial investigations for validating and improving the rating structures used in pricing
  • Developing new and maintaining existing pricing tools in use by underwriters
  • Monitor and report on the use of pricing tools
  • To support the quarterly reserving exercise, including:
  • Developing an understanding of relevant data sources and systems
  • Understanding the quarterly reserving exercise for assigned lines of business
  • Being involved in initial underwriters' meetings and presenting findings where appropriate
  • Assist Risk Management and Capital Modelling by supplying appropriate information
  • Support the business planning process as required

Skills & experience

  • Qualified Actuary in the UK, US or Europe
  • 5+ years of actuarial experience essential, within General Insurance.

Software / Programming Skills

  • Advanced knowledge of MS Excel (essential)
  • VBA (very desirable)
  • @Risk (desirable)

Technical Actuarial / Statistical Skills

  • Knowledge of actuarial techniques for pricing primary, catastrophe insurance, reinsurance products
  • Familiarity of simulation techniques used for pricing loss sensitive product features
  • Familiarity with jargon and practices in the London Market and UK Commercial Lines Insurance
  • An understanding of actuarial techniques for reserving casualty / property insurance

Communication Skills

  • Ability to communicate statistical and actuarial output to underwriters and other non-actuarial stakeholders using appropriate language
  • Ability to work in a cross functional team environment using own initiative as well as part of a team

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