Job Description
The company
Vave started as an algorithmic pricing engine incubated within Canopius Group, a leading global specialty (re)insurer, and has since been developed into a full E2E platform and launched as a standalone business.
At Vave MGA we take the centuries old underwriting industry into the age of data and cloud computing by replacing traditional processes with frictionless real-time pricing, dynamic risk selection and portfolio optimization. We use the most up to date tech, leverage vast amounts of internal and external data and in-house developed algorithms. We are digital from the start and are not constrained by legacy systems and processes. We invest heavily in data science and new data sources to develop unique insights and algorithms powering our proprietary API-first trading platform.
Our product focus is US property, and natural catastrophe modelling is our home turf. Since beginning trading in May 2019 we delivered four products to market and are currently quoting on over 120,000 risks, representing $300m of premium, every month. We are continuously evolving and creating new opportunities to scale and innovate, and are now expanding our team to support the next round of growth. This is an amazing opportunity to join a dynamic fast-growing business.
The role
The Product Manager roll will support the management of the core Vave product suite, and the future development of new products.
Vave’s product offering continues to grow with the launch of the Commercial Property product in 2022 and the Earthquake product in 2023. The creation of this role marks the next stage in the expansion of Vave as we look to support the existing products and expand our product range.
From the outset, your work will have a direct impact on the profitability and growth of the Vave portfolio. The role will assist in responsibility for product appetite, algorithmic pricing and portfolio management. You will collaborate with others in the team to enhance the product suite, work with the analytics team to ensure performance is on track, and understand developments in the regulatory and legal environment. Your understanding of the strengths of the product suite will be invaluable in discussions with prospective clients.
The role will be ideal for a technical and personable candidate with a background in Cat modelling or actuarial, looking to bring their skills to bear in a dynamic underwriting team. You may not have considered underwriting before, but your analytical mind, problem solving and ability to detect trends will make you perfectly suited. Communication is key, and you must be comfortable presenting your arguments clearly and intelligently to a range of stakeholders.
Responsibilities
- Analyse quote volumes, hit rates and performance of portfolio
- Work with third party vendors to bring in new sources of data to improve our risk selection and pricing
- Develop and innovate around the product offering
- Advocate product in business development discussions
- Leverage claims and exposure data to improve pricing
- Own and update the Commercial Property form set as appropriate
Skills and experience
- Experience in a data-focussed role in the industry
- Degree in an analytical discipline (Maths, Science, Engineering or Economics)
- Good understanding of Cat models and actuarial techniques
- Excellent business and communication skills
- Excellent SQL skills required
- Programming and GIS skills advantageous
- Experience of US E&S market preferred but not essential
