Pricing Actuary

Key Responsibilities

Technical Responsibilities

• Provide pricing and analytical support to underwriting teams, which includes:
  • Developing pricing tools for estimating price adequacy and rate change.
  • Conducting portfolio and transactional pricing analyses.
  • Performing segmental analyses (e.g., COB/stat, risk code, new/renewal) and trend analyses.
  • Monitoring performance through metrics such as rate change and price adequacy.
  • Supporting ceded reinsurance pricing efforts.
• Develop, maintain, and review pricing models to ensure compliance with required standards.
• Prepare monthly/quarterly reports for the Underwriting Committee.
• Deliver training to underwriters on pricing, benchmarking, and rate change requirements.
• Understand and support underwriting controls related to pricing and ensure adherence to minimum standards.
• Apply and uphold pricing quality assurance processes.
• Collaborate with teams (e.g., Underwriting, Claims, Data Management, and Ceded Reinsurance) to ensure the quality and relevance of pricing data.
• Maintain and update pricing model documentation regularly, with managerial approval.
• Assist with actuarial projects, including liability transfer valuations and business planning analyses.
• Contribute to continuous improvement of pricing processes and methodologies.
• Mentor and support junior team members in developing their skills.
• Stay informed on industry best practices, regulatory changes, and new initiatives.
• Undertake professional and technical development, including pursuing actuarial qualifications where applicable.

General Responsibilities

• Demonstrate professionalism, integrity, effectiveness, and dynamism in all interactions.
• Adhere to organisational procedures, policies, and standards, including codes of conduct and customer outcome requirements.
• Participate in training related to policies, compliance, and professional development.
• Maintain a focus on delivering fair outcomes and high-quality customer experiences.
• Fulfill additional responsibilities as assigned, including participation in committees or working groups.

Person Specification

Education and Qualifications

• University degree in Mathematics or a related field.
• Actuarial qualification or progress toward qualification.

Skills and Abilities

• Strong analytical skills with a high degree of accuracy and numeracy.
• Proficiency in MS Excel; knowledge of VBA, Access, SQL, and R is desirable.
• Effective verbal and written communication skills.
• Ability to work both independently and as part of a team.
• Strong time management, prioritization, and deadline management abilities.
• General understanding of commercial and financial principles.

Knowledge and Experience

• Experience in pricing; knowledge of the Lloyd’s or London Market is advantageous.
• Familiarity with actuarial and statistical techniques used in pricing.
• Understanding of reinsurance and capital, particularly as they relate to pricing.

Aptitude and Disposition

• Results-oriented, self-motivated, and enthusiastic.
• Professional approach with strong interpersonal skills for stakeholder engagement.

Competencies

• Achievement and solution-focused mindset.
• Strong analytical and problem-solving skills.
• Initiative-driven and reliable.
• High attention to detail and integrity.

How to Apply

This role provides an exciting opportunity to apply your expertise in pricing and analytics within a collaborative and dynamic environment.