Assistant Pricing Actuary - Property

Birmingham, England, United Kingdom

4/16/2025

General

Job Description And Person Specification

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 all lines of business within the Property Risks Division (including classes such as Reinsurance, Jewellers and Specie) at Beazley. Note that the pricing team currently has a Division rotation system in place which gives team members the opportunity to work on other lines of business in the future depending on business needs and demands.

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 and Underwriting Governance 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.
  
  

General

At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours - PIED and Being Beazley.

• Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
• Comply with Beazley procedures, policies and regulations including the code of conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
  
  

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