Pricing Actuary - UK Commercial Lines

The UK Insurance Pricing team provides essential actuarial support to Commercial Underwriters, working closely with them to achieve strategic goals and sustainable growth throughout the market cycle. The Commercial Lines include Corporate Property and Casualty, Middle Market risks, and Professional Indemnity - some of the fastest-growing sectors in the UK. We collaborate with colleagues across the group to implement best practices in pricing.,

• Complex Contract Pricing: Work closely with underwriters to price complex contracts across various classes, providing clear explanations of technical actuarial modelling techniques and results.


• Pricing Model Development: Assist in developing pricing models for new business areas and update existing models through reparameterisation exercises and structural modifications as necessary.


• Actuarial Analysis: Utilise actuarial pricing techniques for individual account and portfolio analyses, preparing presentations and quantitative exhibits for management and underwriters to convey insights and key outcomes.


• Business Planning: Contribute to the business planning process, working with the Commercial Pricing Actuary lead and underwriters to articulate business plans and their underlying rationale.


• Strategic Growth: Help identify and assess strategic growth opportunities by collaborating with the underwriting team to understand the current portfolio in comparison to the market portfolio.


• Risk Audits: Conduct risk audits to ensure pricing models are used appropriately by underwriters and that modelled results are reasonable, addressing any deficiencies.
  
  Qualifications: Institute and Faculty of Actuaries accreditation (Student) or equivalent through experience or alternative qualifications.


• Experience: At least three years of experience in a UK/European commercial insurance company, financial services, or consulting firm. Prior pricing experience in the relevant lines of business is preferred.


• Skills: Strong analytical and quantitative skills in Excel, SQL, or other relevant tools, with proficiency in R and Python being advantageous. Familiarity with pricing software such as Emblem or equivalent is expected.


• Interpersonal Skills: Excellent interpersonal skills with the ability to effectively interact with colleagues at all levels.