In this role you will support the Head of Pricing, UK and Lloyd’s on all pricing-related activities as detailed below. This role offers an excellent opportunity to apply your technical skills to support and influence the UK and Lloyd’s Underwriting teams’ strategy and delivery of their business plan. The UK & Lloyd’s Pricing team is a key part of the Global Pricing team.
You will have no direct reports.
DISCOVER your opportunity
Your responsibilities will include the following:
- Collaborate with underwriters to develop underwriting strategies and tools that support profitable growth for middle market business.
- Analyse loss and expense trends for middle market business to identify opportunities for improvement in underwriting.
- Support the development of new products and services for middle market business.
- Partner with the finance team to develop financial plans and forecasts for UK retail business.
- Stay abreast of industry trends and developments related to middle market business.
- Perform forward-looking analysis on the retail portfolio, taking into account emerging trends and regulatory changes, to proactively identify potential impacts and recommend appropriate strategies
- Assist in portfolio design to understand set of optimal business mix that will achieve highest return for a given level of volatility
- Develop key performance indicators (KPIs) to effectively measure and compare the performance of the company against its competitors
- Represent UK Retail in the development of global pricing models and ensure alignment with the UK plan through calibration and validation of models
- Lead strategic analysis and influence decision-making of the placement of retail reinsurance programmes – treaties and facultative by conducting cost/benefit analysis to ensure the reinsurance programme is optimised and adequate protections are in place to protect the underwriting units.
- Facilitate effective communication and collaboration between internal stakeholders across different products and regions
- Develop and sustain comprehensive retail management information systems, ensuring accuracy, relevance, and timeliness of data to support informed decision-making and operational efficiency
- Assist in development of pipeline analytics to improve hit rates on most profitable business
- Conduct ad-hoc analysis as needed to support business regional product leaders
- Own the Pricing view of loss ratio by peril for UK Property.
- Challenge UW leadership, Reserving and Capital modelling.
- Ensure efficiency of pricing processes for UK middle market, coordinating with relevant functions outside of Pricing where necessary.
- Ensure delivery of core tasks such as pricing views for business planning, variance, and core pricing metrics.
- Training of underwriters in pricing matters
- Deal Pricing support, including for portfolio deals
- Gathering local UW data and analytics needs and problems
You will report to Head of Pricing, UK & Lloyd’s Property London Wholesale.
SHARE your talent
We’re looking for someone who has these abilities and skills:
- Qualified actuary
- Experience of working with Underwriting teams to deliver portfolio analysis and insight
- Experience of non-life property and casualty insurance pricing.
- Effective influencing and negotiating skills
- Ability to work collaboratively with colleagues to build consensus.
- Excellent analytical skills
- Good communications skills to gain buy-in to communicate clearly and concisely with internal and external clients.
- Good R skills desirable, as well as MS software skills
- Ability to think strategically