Reinsurance Pricing Analyst

£40000 - £43000 per annum + bonus & benefits
24 Sep 2020
24 Oct 2020
Greg McKenzie
Job Function
Actuary, Pricing Actuary
Contract Type

The role

To provide a high quality and effective actuarial service to Group underwriters and management and assist to deliver the objectives of the Actuarial Pricing Team that are agreed each financial year by the Group Chief Actuary.

Key accountabilities

In compliance with Group Pricing Standards,

  • Provide actuarial support to underwriters and their customers in the pricing of individual accounts
  • Conduct portfolio analyses and other appropriate actuarial investigations for validating and improving the rating structures used in pricing
  • In conjunction with other actuaries and underwriters, specify, develop, test and maintain existing pricing tools in use by underwriters
  • Monitor and report on the use of pricing tools
  • Provide training to users of pricing tools where appropriate or required
  • Contribute to improving the pricing processes
  • Assist Reserving actuaries by supplying appropriate information
  • Assist Risk Management and Capital Modelling by supplying appropriate information
  • Assist with business planning

Skills & experience

  • BSc in Mathematics, Statistics, Economics, Actuarial Science, Computer Programming or similar
  • Progress towards actuarial qualification in the UK, US or Europe
  • 0-3 years experience working in General Insurance
  • Experience in pricing general insurance business advantageous

Software / Programming Skills

    • Advanced knowledge of MS Excel (essential)
    • Knowledge of programming languages such as VBA, SQL, Python, C#, R etc advantageous.
    • Good working knowledge of MS Access, MS Powerpoint and MS Word

Technical Actuarial / Statistical Skills

    • Knowledge of actuarial techniques for pricing primary, excess of loss and catastrophe insurance / reinsurance products
    • Familiarity of simulation techniques used for pricing loss sensitive product features
    • Familiarity with technical concepts and practices in the US admitted and E&S Markets / London Market / UK Commercial Lines Insurance / Financial & Professional Lines Insurance
    • An understanding of actuarial techniques for reserving casualty, specialty and property insurance
    • An understanding of risk based capital and actuarial techniques for capital assessment and allocation

Communication Skills

    • Ability to communicate statistical and actuarial output to underwriters using appropriate language
    • Strong Interpersonal skills

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