Model Development Actuary (FTC)

Job summary

The Pricing Actuary will be responsible for completing development of upgraded Excel based pricing models ready for delivery to third party Rulebook developers. This is expected to include Marine PI, Political Violence and Energy Package models, with potential further development required on other models as required. The role will include interaction with underwriting teams to ensure that the proposed models are fully tested and agreed.

The Pricing Actuary will also provide support for BAU work as required, including account pricing, benchmark rate reviews and portfolio analyses.

The successful applicant will have strong technical pricing skills. The Pricing Actuary will have strong communication skills and commercial awareness in order to provide effective underwriter support.

The Pricing Actuary will be located within the Actuarial pricing team in London and work directly with the underwriting team under the guidance of the Insurance Pricing Manager.

Main duties

• Model development, ensuring adherence to standardised best practice
• Support to ensure underwriter agreement and testing
• Contributing ideas for new MI
• Model recalibration reviews
• Account pricing and underwriter support for broker negotiations
• Portfolio monitoring for accounts and overall portfolio
• Keep abreast of industry initiatives and develop new pricing/visualisation techniques and best practice where opportunities arise
• Collaborate, present and share knowledge with the wider Actuarial team
• Assistance for other pricing team activities as required

Our requirements

Relevant experience

Essential

General insurance pricing experience

Model development experience

Desirable

Experience of Marine / Energy / PV classes of business

Technical skills

Essential

Strong IT skills, including comprehensive knowledge of Excel and VBA

Desirable

R or Python

SQL

Experience in building and using dashboards in PowerBI

Education & Experience

Essential

2.1 or 1st degree in Maths or a Maths-related subject (e.g. Physics, Engineering, Statistics)

3 or more strong 'A' levels, including Maths

Desirable

FIA qualified

Personal skills

• Attention to detail
• Self-motivated
• Hard working and committed
• Professionally presented
• Organised and clear thinking
• Flexible and adaptable
• Ability to plan, organise work and multitask to meet targets and deadlines
• Able to collaborate, work as a team and communicate with staff at all levels

We offer:

• A flexible 2 days in the office hybrid work model that supports individual and team needs.
• A diverse, inclusive culture that values people for who they are.
• Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.