Location: London/ Hybrid
Salary: £40,000
About the role
As an Actuarial Analyst you will work in the Pricing and Analytics Team as a part of the wider Performance Management Team to provide cutting edge solutions to support the growth and profitability of the business.
You will have the opportunity to actively engage with all our underwriting teams, working with them on the technical aspects of pricing models, individual underwriting projects and portfolio optimisation. You will also work collaboratively with other teams within the Performance Management Team, management and across the wider business, you will foster strong relationships with key stakeholders and ensure there is a feedback loop.
As we build out and maintain a best-in-class pricing function, you will be able to have an immediate and very visible impact on the business by playing a pivotal role in the feedback loop which constantly improves our business performance and deepen our understanding and quantification of new and developing areas of insurance.
Key responsibilities & Accountabilities
- You will help maintain appropriate pricing frameworks and methodologies across all of the business products, including setting the technical price and input into the suggested price.
- You will work closely with the Pricing Operations team in the testing, implementation, documentation and maintenance of pricing tools.
- You will work closely with underwriting, claims and IT teams to identify emerging risks and claim trends to allow for these in the pricing models.
- You will assist in undertaking regular granular deep dive analysis across the business products, reviewing rating structures and assumptions against our own experience and external sources as well as identifying and enriching new rating factors to enhance risk selection and long-term profitability.
- You will assist in monitoring a suite of consistent and accurate KPIs to support the identification of strategic opportunities and portfolio optimisation decisions.
- You will assist in monitoring risk appetites and risk tolerances to ensure delivery against the business plan.
- You will assist in experience and/or exposure-based pricing analysis to support commercial decisions on portfolio transfers.
- You will work in a multi-disciplinary team to assist in developing new insurance products.
- You will participate on ad hoc projects as required.
- Strong verbal, written communication and presentation skills;
- Very high attention to detail and accuracy of work;
- Very strong analytical and numeracy skills;
- Commercially minded, with an entrepreneurial drive;
- Excellent organisational skills;
- Ability to operate under pressure and identify and meet tight deadlines;
- Strong IT literacy with solid SQL and MS Office skills, particularly in Excel (including VBA).
- SQL, R, Python and/or other database/programming experience strongly desirable.
- Demonstrable insurance experience within an actuarial and/or pricing function;
- Experience within an analytical role producing high quality MI & reports;
- Advanced MS Excel skills (preferably with VBA)
- Strong data modelling and quantitative analysis experience is essential;
- Relevant professional qualifications