To play a leading role within the Actuarial team providing expert advice to the business on Pricing.
Main activities and tasks
- Lead the dialogue with the business on Technical and Customer pricing of the Personal Lines portfolio.
- Play an active role developing the Pricing Strategy, recommending new developments and estimating associated benefits
- Manage, train and develop a team of Pricing analysts
- Develop and maintain an in-depth knowledge of pricing techniques appropriate for the UK General business lines, introducing new methods where appropriate.
- Develop and maintain actuarial models to price new and existing lines to meet profitability and core operating return targets.
- Maintain an in-depth knowledge and understanding of the UK General products and systems.
- Work with Underwriting and Products teams to investigate root causes of variances to plan, proposing corrective actions where appropriate.
- Where appropriate develop supplementary performance MI to assist with portfolio management and commercial decision making and to enable benefits tracking following implementation of new rates or underwriting criteria.
- Working closely with other key areas such as Finance, Claims and Underwriting to ensure that all areas become aware of reserving/pricing developments and are able to incorporate any findings in a timely fashion.
- Work with IT professionals in the ongoing development of MI reporting systems.
- Consider the potential customer outcomes
- Identify and highlight any risks and issues impacting the business or its customers
Required skills and experience
- Financial/General Insurance environment experience essential with knowledge of personal lines products.
- Detailed knowledge of MI software or systems e.g. R, SAS, MS Excel and VBA, Access and SQL.
- Demonstrate commercial awareness
- Innovative approach to work, ability to apply knowledge, judgement and experience to price new lines and product variants.
- Excellent communication skills with the ability to communicate complex matters both verbally and through written reports.
- Ability to handle multiple projects, working effectively both within a team, independently and as part of cross departmental project teams.
- Ability to work with enthusiasm and flexibility.
- Ability to work under pressure, meet deadlines and prioritise workloads.
- Analytical ability to break down complex problems with excellent problem-solving skills.
- Continuous Improvement.
- Team Work.
- Customer Focus.
- Achievement focus.
Required education and qualifications
- Professional qualifications / experience required to the level of a qualified or near qualified actuary e.g.
- Actuarial exam passes to at least CT level;
- More than six months’ experience in a similar role.