At a Glance
- Tasks: Join our team to provide pricing support and develop innovative pricing tools.
- Company: Beazley, a leading insurance company with a collaborative and supportive culture.
- Benefits: Attractive salary, bonuses, medical insurance, and flexible working options.
- Other info: Enjoy a dynamic work environment with opportunities for professional growth and community involvement.
- Why this job: Make a real impact in the insurance industry while developing your actuarial skills.
- Qualifications: Actuarial qualification and pricing experience in the (re)-insurance market preferred.
The predicted salary is between 60000 - 80000 € per year.
Division: Finance - Actuarial
Reports To: Lead Pricing Actuary – PAC Risks
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 - MAP Risks employer: Beazley Management Limited
Beazley is an exceptional employer that prioritises employee well-being and professional growth, offering a supportive work culture where collaboration and innovation thrive. With competitive compensation, comprehensive benefits including generous parental leave and flexible working arrangements, employees are empowered to balance their personal and professional lives while pursuing meaningful careers in the dynamic field of actuarial pricing. Located in a vibrant area, Beazley fosters a community-oriented environment, encouraging team members to engage in charitable activities and continuous learning.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Actuary - MAP Risks
✨Tip Number 1
Network like a pro! Reach out to current or former employees at Beazley on LinkedIn. 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 knowledge and actuarial techniques. We want to show that we’re not just good on paper but can also think on our feet!
✨Tip Number 3
Practice common interview questions, especially those related to teamwork and problem-solving. We need to demonstrate how we can contribute to the MAP Risks team effectively.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed and shows us you’re serious about joining the Beazley family.
We think you need these skills to ace Pricing Actuary - MAP Risks
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 align with 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 the 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 highlight any projects or experiences where you've used these skills effectively. It’ll help us see your technical prowess 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 receive your application and keep track of it. Plus, it shows you’re serious about joining our team at Beazley!
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 related to pricing models and be ready to discuss how you've applied these in past roles. Use specific examples to show 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 and its MAP Risks Division to tailor your responses. Showing that you’re up-to-date with industry best practices will impress the interviewers and highlight your commitment to the role.
✨Prepare for Technical Questions
Expect questions that test your technical knowledge, especially around pricing tools and methodologies. Practice explaining complex concepts in simple terms, as you may need to train underwriters. This will showcase your communication skills and ability to work collaboratively.
✨Showcase Your Team Spirit
Be prepared to discuss how you’ve worked effectively in teams before. Highlight experiences where you supported colleagues or contributed to team objectives. Emphasising your ability to collaborate with underwriters, claims managers, and other stakeholders will align well with the role's requirements.
