At a Glance
- Tasks: Support pricing for MAP Risks, develop tools, and analyse data to ensure price adequacy.
- Company: Beazley, a leading insurance company with a collaborative and innovative culture.
- Benefits: Attractive salary, bonuses, medical insurance, generous leave, and flexible working options.
- Other info: Opportunities for professional development and a supportive work environment.
- Why this job: Join a dynamic team and make a real impact in the insurance industry.
- Qualifications: Actuarial qualification and pricing experience in the (re)insurance market preferred.
The predicted salary is between 60000 - 80000 € per year.
Key Relationships:
- Underwriters and business managers
- Beazley actuaries
- Claims managers
- Data Management and Ceded Reinsurance teams
- Regulators
- External actuaries
- Brokers
Job Summary:
Actuarial pricing for the MAP Risks Division (Political, Accident, Contingency, Marine and Portfolio Underwriting) at Beazley.
Key Responsibilities:
- Provide pricing support to the MAP Risks underwriting teams at Beazley; pricing support includes (as required)
- Develop pricing tools that support the estimation of price adequacy and rate change
- Perform portfolio and transactional pricing analyses
- Perform segmental and trend analyses
- Monitor performance (e.g., rate change and price adequacy metrics)
- Develop, maintain and review pricing models to the required standards
- Contribute effectively to the production of the relevant reports required for any key committees
- Provide training to underwriters in pricing, including technical pricing and rate change requirements
- Understand and support underwriting controls related to pricing and relevant regulatory principles
- Understand and apply the pricing quality assurance process
- Assist in other projects undertaken by the actuarial team (e.g., liability transfer valuations and business planning analyses)
- Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives
- Build technical pricing skills and experience
- Provide support and mentoring to junior members of the team
- Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
- Build and maintain constructive working arrangements with key groups identified for the role
- Work with underwriters, exposure management, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of data used for pricing and capture necessary data from pricing tools to enhance future pricing capabilities
- Maintain pricing model documentation with required frequency, obtaining appropriate managerial sign-offs
- Identify opportunities and contribute to delivering improvements in pricing processes and methodologies
- Undertake professional, technical and career development training (delivered internally and externally) and pursue the actuarial qualification where applicable
Personal Specification:
Essential Criteria:
- Actuarial qualification
- Pricing experience with specialty (re)-insurance market knowledge desirable
- Firm grasp of actuarial/statistical techniques used in pricing
- Understanding of reinsurance and capital with application to pricing
Education and Qualifications:
University degree in Mathematics or a related field.
Skills and Abilities:
- General commercial and financial knowledge
- Competent user of MS Excel; VBA, Access, Python, 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
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
- Attention to detail
The Rewards:
- Attractive base compensation and discretionary performance‑related annual bonus
- Private medical insurance coverage for both you and your dependents
- Company‑paid life assurance and long‑term disability insurance
- Pension with 10% employer contribution, plus a further matched contribution up to 2.5%
- 25 days of annual leave (prorated for the first calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your beliefs; additional annual leave purchase available up to a maximum of five additional days per year
- Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long‑term care need annually
- Up to £550 reimbursement towards home office setup
- Free in‑office lunch and monthly lifestyle allowance
- Monthly travel allowance or annual season ticket
- Opportunity to save for, and purchase, shares of Beazley stock
- Six months fully paid parental leave, regardless of how you come to parenthood
- Company‑paid sabbatical up to 12 weeks after 10 years of continued service
- Support with exam/study leave and fees for relevant qualifications related to furthering education
- Smart working policy and flexible working culture, trusting employees to do what works best for them, their role and the needs of the business
Pricing Actuary in London employer: Beazley Management Limited
Beazley is an exceptional employer that prioritises employee well-being and professional growth, particularly for the Pricing Actuary role within the MAP Risks Division. With a strong focus on flexible working arrangements, comprehensive benefits including generous parental leave and support for further education, and a collaborative work culture, Beazley fosters an environment where actuaries can thrive and contribute meaningfully to the business while enjoying a balanced lifestyle.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Actuary in London
✨Tip Number 1
Network like a pro! Reach out to current or former employees at Beazley, especially those in the MAP Risks Division. A friendly chat can give us insider info and maybe even a referral!
✨Tip Number 2
Prepare for the interview by brushing up on your pricing models and actuarial techniques. We want to show off our skills and knowledge, so practice explaining complex concepts in simple terms.
✨Tip Number 3
Don’t forget to showcase our teamwork skills! Be ready to share examples of how we’ve collaborated with underwriters or data management teams in the past. It’s all about demonstrating that we can fit right in!
✨Tip Number 4
Apply through our website! It’s the best way to ensure our application gets seen. Plus, it shows we’re genuinely interested in being part of the Beazley team.
We think you need these skills to ace Pricing Actuary in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Pricing Actuary role. Highlight your actuarial qualifications and any relevant pricing experience, especially in the specialty (re)-insurance market. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your background makes you a great fit. Don’t forget to mention your understanding of pricing models and your analytical skills – we love that stuff!
Showcase Your Technical Skills:We’re keen on candidates who are competent with tools like MS Excel, VBA, Python, and SQL. Make sure to include any relevant projects or experiences that demonstrate your technical prowess. This will help us see how you can contribute to our team right away!
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It’s the best way for us to keep track of your application and ensure it gets the attention it deserves. Plus, it shows you’re serious about joining our team!
How to prepare for a job interview at Beazley Management Limited
✨Know Your Numbers
As a Pricing Actuary, you'll need to demonstrate your grasp of actuarial and statistical techniques. Brush up on key concepts and be ready to discuss how you've applied them in previous roles. Prepare examples that showcase your analytical skills and attention to detail.
✨Familiarise Yourself with the Industry
Make sure you understand the specialty (re)-insurance market and current trends. Research Beazley’s MAP Risks Division and be prepared to discuss how your experience aligns with their needs. Showing that you’re up-to-date with industry best practices will impress your interviewers.
✨Practice Your Communication Skills
You’ll need to communicate complex pricing models and analyses effectively. Practice explaining your work in simple terms, as you may have to train underwriters or collaborate with various teams. Clear communication can set you apart from other candidates.
✨Show Your Team Spirit
Beazley values teamwork, so be ready to share examples of how you've worked collaboratively in the past. Highlight your ability to support colleagues and contribute to team objectives. A positive attitude and willingness to help others will resonate well with the interviewers.
