Description
Senior Pricing Actuary - Property Binders, General Insurance, DAU
London/Remote
Contract
Inside IR35
£Market Rates
Senior Pricing Actuary - Property Binders, General Insurance, DAU, London Market, Actuarial & Property Background
My client's Insurance property pricing team is led by the Head Actuary, with senior pricing actuaries aligned to the divisional underwriting structure, providing Embedded support to the underwriting function. The team provides analytical capability in pricing and exposure modelling in respect of all property business written globally through the open market business units and delegated underwriting authorities. You must be friendly approachable with a collaborative approach to your work.
This role will focus on the business units writing worldwide property facilities in their London based International Division. The business is written on both syndicate and company paper. There will also be exposure to several global initiatives across the property practice.
Senior Pricing Actuary - Property Binders, General Insurance, DAU, London Market, Actuarial & Property Background
Key Responsibilities:
The property pricing team has responsibility for the following:
Detailed product monitoring and segmental reviews within classes of business to objectively assess profitability; provide evidence-based conclusions and recommendations for strategic changes, underwriting actions and portfolio optimisation.
Providing actuarial pricing recommendations regarding risk selection, contract structure, coverage and pricing for individual deals.
Working closely with underwriters to scope, build, develop, document and maintain rating models and methods, training and support around best practice model use.
Monitor the quality and accuracy of rate monitoring data produced by rating models/transactional pricing. Quantify the technical adequacy of rates required to meet returns on capital.
Input into the business planning process for my client and their legal entities - primarily to determine gross of reinsurance loss picks, but also to inform assumptions around the efficacy of, and recoverability from, different outwards reinsurance programme structures.
Evaluating the impact of market conditions and rate change. Analysis and research into the rating environment and market behaviour within key business lines.
Assessment and modelling of potential aggregations of risk.
Monitoring the execution of underwriting actions and strategy implementation; assessing the impact of these on the account's profile and emerging claims experience.
Maintain the feedback loop (control cycle) and provision of information and analysis between the pricing, reserving, capital modelling and business planning processes.
Senior Pricing Actuary - Property Binders, General Insurance, DAU, London Market, Actuarial & Property Background
Required Qualifications and Experience:
At least 8 years' experience in a General Insurance actuarial role; consultancy or company. London Market/DUA/Property background highly desired.
Fellow of the Institute & Faculty of Actuaries or equivalent professional body.
Senior Pricing Actuary - Property Binders, General Insurance, DAU, London Market, Actuarial & Property Background
Skills:
Excellent communication and interpersonal skills; able to establish credibility with senior underwriters, business unit leaders and divisional leadership.
Thoroughness, attention to detail and diligence
Self-starter, proactive and a quick learner with strong numeracy skills. Willing to question and investigate.
Deep understanding of the standard reserving and pricing methods used in the London Market and DUA business, how the market operates and the key issues and trends.
Keen to further technical and market knowledge through own research and CPD
Competent user of Excel, Word, PowerPoint. Programming skills in automation, database management and statistical packages will be an advantage
Senior Pricing Actuary - Property Binders, General Insurance, DAU
London/Remote
Contract
Inside IR35
£Market Rates
Senior Pricing Actuary - Property Binders, General Insurance, DAU, London Market, Actuarial & Property Background