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For Companies At a Glance
- Tasks: Lead the design and build of a cutting-edge pricing technology platform.
- Company: IQUW is a dynamic specialty (re)insurer at Lloyd’s, focused on innovative insurance solutions.
- Benefits: Enjoy a collaborative environment, clear career progression, and influence on strategic direction.
- Why this job: Shape the future of pricing with advanced analytics and modelling in a fast-growing company.
- Qualifications: Qualified UK actuary with 5+ years in pricing, programming skills in R/Python, and project management experience.
- Other info: Opportunity to work with top-tier actuarial and data science teams.
The predicted salary is between 48000 - 84000 £ per year.
Join to apply for the Pricing Actuary - Pricing Systems & Analytics role at IQUW.
Overview
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.
The role
This is an exciting opportunity to join IQUW at a pivotal moment in our growth journey. As we expand our underwriting capabilities across Marine, Property, Professional Lines, Reinsurance and Specialty business, we are seeking a forward-thinking Pricing Actuary to architect and build our next-generation technical pricing platform. This role offers a unique chance to shape the future of pricing at IQUW, starting with foundational infrastructure development and evolving into a critical leadership position within our pricing team. You'll be at the forefront of technical innovation, building sophisticated modelling capabilities that will become the backbone of our competitive advantage.
Key Responsibilities
- Technical Pricing
- Architect and implement a state-of-the-art pricing technology platform for syndicate 1856.
- Design scalable data pipelines and analytical frameworks to support complex pricing models.
- Collaborate closely with IT teams to deliver robust, automated pricing solutions.
- Establish technical standards and best practices for pricing model development.
- Build comprehensive testing and validation frameworks for pricing models.
- Develop sophisticated pricing models incorporating cutting-edge actuarial techniques.
- Implement machine learning and AI solutions for pricing optimisation.
- Create advanced analytics dashboards and reporting capabilities.
- Design calculation engines for Risk Prices and Market prices with flexible loadings.
- Build bespoke analytical tools to support underwriting decision-making.
- Partner with Data teams to ensure optimal data architecture and quality.
- Work closely with Divisional Actuaries to share insights and align methodologies.
- Collaborate with underwriters to translate business requirements into technical solutions.
- Provide expert technical guidance to various teams across the organisation.
- Lead cross-functional projects to deliver integrated pricing solutions.
- Conduct sophisticated frequency and severity modelling to support pricing decisions.
- Apply cutting-edge statistical techniques and latest actuarial science research to generate actionable insights.
- Support case pricing and traditional actuarial analysis with enhanced analytical rigor.
- Present findings and recommendations to senior management and key stakeholders.
- Assist with regulatory reporting and compliance requirements, ensuring technical excellence.
- Contribute to standard pricing processes while identifying opportunities for methodological enhancement.
- Provide expert pricing support for complex underwriting opportunities and strategic initiatives.
- Ensure all regulatory requirements from Lloyd's, PRA, FCA impacting syndicate 1856's pricing function are addressed.
- Contribute to Annual Financial Reviews (AFRs) as required.
- Assist the capital team in validating syndicate 1856's internal model assumptions.
- Drive innovation in pricing methodologies and analytical approaches.
- Support business development through technical expertise and thought leadership.
Essential Qualifications, Skills And Experience
- Actuarial skills at the level of a qualified UK actuary (Fellow of IFoA preferred).
- Minimum 5 years of relevant actuarial experience with strong focus on pricing and modelling.
- Programming skills in R and/or Python.
- Experience with technical platforms, pricing systems, or analytical infrastructure.
- Experience with modern data architecture, APIs, and cloud-based solutions.
- Project management skills with ability to lead complex technical initiatives.
- Experience working with cross-functional teams including IT, Data, and business stakeholders.
- Excellent written and verbal communication skills, with ability to explain complex technical concepts.
Highly Desirable Experience
- Experience with pricing platform development or implementation.
- Knowledge of machine learning techniques and their application to insurance pricing.
- Familiarity with catastrophe modelling software (e.g., RMS, AIR).
- Experience with data visualisation tools (e.g., Tableau, Power BI).
- Experience with cloud platforms (AWS, Azure, GCP).
What We Offer
- Opportunity to architect and build cutting-edge pricing capabilities.
- Clear progression path to becoming a critical leader within our pricing function.
- Exposure to diverse lines of business and innovative underwriting approaches.
- Collaborative environment working with top-tier actuarial, data science, and technology teams.
- Influence on IQUW's strategic direction and competitive positioning.
Desirable behavioural attributes
- Innovative: Thrives on building new solutions and pushing technical boundaries.
- Collaborative: Excels at working across functions to deliver complex initiatives.
- Strategic thinker: Balances immediate deliverables with long-term vision.
- Results-oriented: Demonstrates strong execution capabilities and delivery focus.
- Analytical: Combines technical expertise with business acumen.
- Leadership potential: Shows ambition to grow into senior technical roles.
- Organised: Manages multiple complex projects effectively.
- Self-starter: Takes initiative and drives projects forward independently.
Pricing Actuary - Pricing Systems & Analytics employer: IQUW
Contact Detail:
IQUW Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Actuary - Pricing Systems & Analytics
✨Tip Number 1
Familiarise yourself with the latest actuarial techniques and machine learning applications in pricing. This knowledge will not only enhance your understanding but also demonstrate your commitment to innovation, which is highly valued at IQUW.
✨Tip Number 2
Network with professionals in the insurance and actuarial fields, especially those who have experience with pricing systems. Engaging in conversations can provide insights into the role and may even lead to referrals.
✨Tip Number 3
Showcase your programming skills in R and Python by working on relevant projects or contributing to open-source initiatives. This practical experience can set you apart from other candidates and highlight your technical capabilities.
✨Tip Number 4
Stay updated on industry trends and regulatory changes affecting pricing in the insurance sector. Being knowledgeable about these aspects will allow you to engage in meaningful discussions during interviews and demonstrate your strategic thinking.
We think you need these skills to ace Pricing Actuary - Pricing Systems & Analytics
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly read the job description for the Pricing Actuary position. Understand the key responsibilities and required skills, especially those related to technical pricing, modelling, and collaboration with cross-functional teams.
Tailor Your CV: Customise your CV to highlight relevant experience in actuarial work, particularly in pricing and modelling. Emphasise your programming skills in R and/or Python, as well as any experience with pricing platforms or analytical infrastructure.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the insurance industry. Mention specific projects or experiences that demonstrate your ability to lead technical initiatives and collaborate effectively with various teams.
Highlight Your Qualifications: Clearly outline your qualifications, including your status as a qualified UK actuary and any relevant certifications. Make sure to mention your experience with machine learning techniques and data visualisation tools, as these are highly desirable for the role.
How to prepare for a job interview at IQUW
✨Showcase Your Technical Skills
As a Pricing Actuary, you'll need to demonstrate your actuarial skills and programming knowledge. Be prepared to discuss your experience with R and Python, and how you've applied these in previous roles, especially in pricing and modelling.
✨Understand the Business Context
Familiarise yourself with IQUW's business model and the specific insurance products they offer. Being able to articulate how your role as a Pricing Actuary fits into their overall strategy will show that you're not just technically proficient but also aligned with their goals.
✨Prepare for Cross-Functional Collaboration
Highlight your experience working with cross-functional teams, particularly with IT and Data departments. Be ready to provide examples of how you've successfully collaborated on complex projects, as this role requires strong teamwork and communication skills.
✨Demonstrate Innovative Thinking
IQUW values innovation in pricing methodologies. Think of examples where you've pushed technical boundaries or developed new solutions. Discussing your approach to problem-solving and how you stay updated with industry trends will set you apart.
