Responsibilities
The Pricing function is responsible for pricing tools and metrics across all of Berkley Re UK’s underwriting teams. This includes overseeing the development and maintenance of pricing tools, case pricing during renewal periods, market and profitability analysis, managing rate, trend and other pricing assumptions
- Oversee the development, periodic review and update of all pricing models and assumptions in collaboration with underwriters and other actuaries.
- Management and coordination of actuarial case pricing and pricing support for underwriters, ensuring good collaboration with underwriting teams.
- Responsible for the production of pricing metrics, including priced loss ratios and rate change. This includes a process of review to ensure the reasonableness of these metrics for use by the broader actuarial team, management and in the reserving process.
- Management Information for monitoring U/W performance against plan and prior periods and price monitoring reports.
- Work with Chief Actuary to develop strategic plan for the development of the pricing function. In particular build out portfolio reporting and a view of rate adequacy and return on capital for appropriate segmentations of the business.
- Assisting in business reviews and planning. Act as the point person to drive the feedback loop between historical reserving results and any rquired updates to the pricing basis.
Qualifications
- Actuary with reinsurance pricing experience.
- Advanced Excel skills; the ability to create and maintain robust models, including the use of VBA. Experience of SQL Server or Python desirable.
- A broad knowledge of actuarial pricing techniques including being able to build and run experience rating models, exposure rating models, ILF curves and simulation tools.
- Strong professional and technical pricing skills.
- Good people and management skills for managing and mentoring of team members and their performance and influencing across the wider business.
- Ability to deliver and explain technical material to all levels and disciplines within the business.
- Self-reliance – to plan, implement and work either on their own or in a team and deliver a multitude of tasks to a timescale.
