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Pricing Actuary x2 - Casualty & Specialty

About us

Avencia Consulting are recruiting on behalf of a market leading insurer and reinsurer who are looking to add to their talented pricing team. This is an opportunity to work within a dynamic environment experiencing growth, offering significant scope for career development and diversification.

The role

To provide a high quality and effective actuarial pricing service to underwriters and management and to assist in delivering the objectives of the international insurance pricing team.

The Casualty role will have a focus upon account pricing and experience rating.

The Specialty role will involve model build, development and research. Enhancing existing tools and building in connectivity as requested by the underwriters. Classes of business include onshore/offshore energy, credit & political risk, property and construction.

Key accountabilities

  • Account Pricing - Provide actuarial support to underwriters and their customers in the pricing of individual accounts
  • Pricing Model:
    • Maintenance - Maintain existing pricing tools in use by underwriters
    • Development - Work with underwriters and other actuaries in the Group for developing new pricing tools as required by the Business Unit
    • Calibration - Conduct portfolio analyses and other appropriate actuarial investigations for validating and improving the rating structures used in pricing
    • Monitoring - Monitor and report on the use of pricing tools
    • Training - Provide training to users of pricing tools where appropriate or required
    • Documentation - Documenting Tools
  • Business Planning - Work with underwriters to recommend plan loss ratios - contemplating historic experience, rate, trend, pricing assumptions and external benchmarks
  • Underwriting risk - determine Attritional & Large loss distributions for future business to use within our capital models.
  • Adhoc Portfolio Analysis
  • Assist Reserving actuaries by supplying appropriate information
  • Assist Risk Management and Capital Modelling by supplying appropriate information
  • Assist in completion of internal/regulatory reports & returns e.g. AFH, Lloyd's
  • Contribute to improving the pricing processes
  • Managing/Mentoring - managing/co-ordinating work with analysts

Skills & experience

  • BSc in Mathematics, Statistics, Economics or Actuarial Science
  • Ideally a qualified actuary in the UK, US or Europe
  • Ideally at least 5-6 years experience working in General Insurance, coupled with 2-3 year experience in pricing general insurance business

Software / Programming Skills

  • Advanced knowledge of MS Excel (essential)
  • Good working knowledge of MS Access, MS Powerpoint and MS Word
  • VBA; SQL; @Risk (all very desirable)

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 language and practices in the London Market; US admitted; E&S Markets
  • Familiarity with Commercial Lines Insurance e.g. Specialty products; Casualty products
  • An understanding of actuarial techniques for reserving Commercial Lines Insurance
  • An understanding of risk base capital and actuarial techniques for capital assessment and allocation

Communication Skills

  • Ability to communicate statistical and actuarial output to underwriters using appropriate language
  • Ability to work in a cross functional team environment where people with different skills harness from one another

Pricing Actuary x2 - Casualty & Specialty

London, UK
Full time
Lloyd's of London Market
competitive package

Published on 11/24/2021

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