Job Description
The Role
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.
Vave are now recruiting a Pricing Actuary to enable their continued growth. As leaders in data-led underwriting our pricing differentiates us from our peers. Vave has amassed a uniquely large dataset of policy-level claims and exposure that has been leveraged, with the support of our actuarial colleagues at Canopius, to build our market-leading attritional pricing models. To support our growth and embed continual improvement we are bringing actuarial skills in-house in 2024.
Attritional losses are over half of our expected loss cost, and from the outset you will work to review and refine our attritional pricing across our Homeowners and Small Commercial Product. Your understanding of data science techniques will be invaluable in further developing Vave’s pricing advantage, and your knowledge of pricing will be invaluable on decisions around pricing Catastrophe perils.
Internally you will work closely with the Product team, (responsible for underwriting appetite and performance) and Data & Analytics team (with responsibility for managing Vave datasets). You will build relationships with pricing and reserving teams at our capacity providers; and with third party software vendors.
The role will be ideal for a recently qualified pricing actuary, ideally with experience in the US primary market, who is keen to work closely with underwriters and decision makers.
Key Responsibilities
- Leverage Vave’s unique claims and exposure dataset as part of a process of continually updating Vave’s non-catastrophe pricing
- Assist in pricing of catastrophe perils
- Conduct portfolio optimisation exercises
- Work with third party software vendors that can enhance our approach to pricing
- Support Data & Analytics team with understanding of data science techniques
- Provide guidance on key reporting metrics to Data & Analytics team
- Liaising with capacity provider’s underwriters and actuaries
Skills and experience:
- Nearly/newly qualified actuary
- Proven experience in a general insurance pricing role (either retail or London Market)
- Experience in US Property pricing desirable but not essential
- Strong communication skills, including the ability to convey complex actuarial concepts to both technical and non-technical audiences
- Excellent analytical skills and the capacity to make data-driven decisions
- Programming skills (eg Python, R, SQL) and a desire to develop these further
- Experience in application of machine learning techniques
- Ability to work collaboratively with other functions
Our benefits
We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non-contributory pension, discretionary bonus, insurances including health (family) and dental cover, and many other benefits to enhance financial, physical, social and psychological health.
About Canopius
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.
At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.
Based in incredible new offices in the heart of the City of London, Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.
We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds.
We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.
About Us
Our benefits
We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non-contributory pension, discretionary bonus, insurances including health (family) and dental cover, and many other benefits to enhance financial, physical, social and psychological health.
About Canopius
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.
At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.
Based in incredible new offices in the heart of the City of London, Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.
We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds.
We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.
