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oracle

Pricing Actuary - Specialty

SCOR
London, GBR
Mid
Onsite
Discovered 2 days ago
python

Full Job Posting

Experience

  • FIA (or FCAS) with a couple years of Pricing experience in P&C insurance required, with Lloyd’s / London Market experience preferred.
  • Casualty (e.g. General Liability, Excess Casualty/Umbrella, Environmental, Directors & Officers, Financial Institutions, Professional Lines, etc.) experience preferred.
  • Strong analytical skills and ability to manipulate or handle large datasets.
  • Signficant experience in using MS Excel in a pricing environment required, with VBA experience preferred
  • Experience using Python or any other programming languages for predictive modeling (GLMs, ML, etc.) preferred.
  • Personal Competencies:
  • Highly motivated and driven individual with excellent analytical and problem-solving skills
  • Inclination to challenge the status quo in a pricing/actuarial environment
  • Effective communication skills with excellent interpersonal verbal and written skills
  • Strong collaboration skills including across time zones and non-actuarial disciplines
  • Strong organisational and time management skills required
  • Self-starting individual and excellent team player
  • Required Education
  • FIA (Fellow of the Institute and Faculty of Actuaries) or FCAS (Fellow of the Casualty Actuarial Society)
  • Degree in Mathematics, Actuarial Science or any other scientific discipline (Statistics, Physics, etc.) or equivalence

Responsibilities

  • Develop, test, and maintain pricing tools
  • Develop and enhance direct & facultative pricing tools and methodology in conjunction with Underwriters, Underwriting Management, CTO and the Specialty Insurance Methods and Tools team.
  • Ensure pricing models are appropriately calibrated and used appropriately by Underwriters, including rate change calculation.
  • Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis).
  • Be a contributor to the long term objective of the Pricing Team by helping to implement a more innovative and data driven approach to their pricing processes with pricing model development on two web-based platforms: Underwriting Platform (UP), an internal web-based application designed to be a submission to bind tool for underwriters to write risks, and Renew, a third-party software as a service (SaaS) platform for developing and deploying Python pricing models.
  • Actively build relationship with Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.
  • Portfolio analysis, business planning, parameterisation and outwards RI pricing:
  • Business planning for allocated lines within the team (company & syndicate)
  • Development and maintenance of dashboards and various management information
  • Monitor emerging trends in the market across allocated lines of business.
  • Reporting:
  • Contribute to various regulatory tasks such as the Lloyd’s Performance Management Data Return (PMDR)
  • Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.
  • Any other ad-hoc reporting requirements.
  • Projects & Consulting:
  • Provide actuarial consulting during exploration of new projects.
  • Assist with on-going underwriting projects (developing pricing requirements, systems testing, etc.) or any other ad-hoc projects
  • Pricing and review key individual accounts:
  • Analyse and pricing of individual accounts typically with complex features or high premium in UP or Xact.
  • Conduct pricing reviews on accounts with high and extreme materiality to ensure that all accounts priced adheres to appropriate pricing review process as defined in SBS Pricing Guidelines and Cedant Facultative Pricing Guidelines.

Preferred Qualifications

  • FIA (or FCAS) with a couple years of Pricing experience in P&C insurance required, with Lloyd’s / London Market experience preferred.
  • Casualty (e.g. General Liability, Excess Casualty/Umbrella, Environmental, Directors & Officers, Financial Institutions, Professional Lines, etc.) experience preferred.
  • Signficant experience in using MS Excel in a pricing environment required, with VBA experience preferred
  • Experience using Python or any other programming languages for predictive modeling (GLMs, ML, etc.) preferred.

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