Job Title: Assistant Pricing Actuary
Division: Finance - Actuarial
Key Relationships: Underwriters and business managers, Beazley actuaries, claims managers, Data Management, software developers and Ceded Reinsurance teams, Lloyd’s, external actuaries and auditors.
Job Summary: Actuarial pricing for various lines of business at Beazley
Key Responsibilities:
Technical
- Provide pricing and analytics support to the various underwriting teams at Beazley; pricing support includes (as required):
- Developing pricing tools that support the estimation of price adequacy and rate change
- Performing portfolio and transactional pricing analyses
- Performing segmental (e.g. COB/stat, risk code, new/renewal) and trend analyses
- Performance monitoring (e.g. rate change and price adequacy metrics)
- Reinsurance pricing
- Develop, maintain and review pricing models to the required standards
- Produce the relevant monthly/quarterly reports required by the Underwriting Committee
- Understand and support the underwriting controls related to pricing and the Lloyd's Oversight Principles
- Work with the underwriters, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of the data used for pricing; ensure the necessary data is captured from pricing tools to enhance future pricing capabilities
- Maintain pricing model documentation with required frequency, obtaining the appropriate managerial sign-offs
- Assist in other projects undertaken by the actuarial team e.g. liability transfer valuations and business planning analyses
- Build and maintain constructive working arrangements with those groups identified as being key to your role
- Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
- Build your technical pricing skills and experience
- Contribute to improving the pricing processes and methodologies
- Undertake professional, technical and career development training (delivered internally and externally); this includes pursuing the actuarial qualification where applicable
Personal Specification:
Education and Qualifications
- University degree in Mathematics or related field
- Progress towards an actuarial qualification
Skills and Abilities
- General commercial and financial knowledge
- Competent user of MS Excel; VBA, Access, Python, Hyperexponential, SQL and R skills desirable
- Strong analytical skills with attention to detail; accurate and numerate
- Able to communicate effectively both verbally and in writing
- Team worker as well as able to work on own initiative
- Ability to manage time, meet deadlines and prioritise
Knowledge and Experience
- Building pricing experience; Lloyd’s / London market knowledge desirable
- Grasp of actuarial / statistical techniques used in pricing
- Building understanding of reinsurance and capital with application to pricing
Aptitude and Disposition
- Outcome focused, self-motivated, flexible and enthusiastic
- Professional approach to successfully interact with team members, internal and external stakeholders
Competencies
- Achievement and solution focused
- Analytical
- Information seeking
- Stakeholder focus
- Using initiative
- Having integrity
- Taking responsibility
- Being reliable
- Attention to detail