Analytics Actuary

Location: Birmingham

Key Relationships: Underwriters and business managers, Beazley actuaries, Claims managers, Data Management and Ceded Reinsurance teams.

Job Summary: The overarching remit of the Actuarial Analytics team is to create business value by providing tools and insights to enhance decision making and strategy throughout the company. You will work across all our lines of business, devising analytical solutions to solve business problems across each area of Actuarial Analytics – Claims Analytics, Underwriting Analytics, Portfolio Analytics and Innovation.

Key Responsibilities:

• Technical Underwriting Analytics: Drive forward and support the delivery of impactful analytics to the underwriting teams. Develop and enhance line of business specific analysis, tools and insights to support and enhance their strategy and decision making, including portfolio monitoring and optimisation, segmentation and trend analysis, tracking exposure and technical price adequacy, and profitability studies.
• Claims Analytics: Provide support to the underwriting teams, business managers and claims teams as required within the reserving process. Develop tools to better understand new and ongoing trends in the claims environment, allowing us to more quickly identify drivers of losses and respond with effective underwriting action.
• Portfolio Analytics: Support the business planning process and create tools to better understand cross-class performance and market insights, enhancing growth and profitability and giving insights to better manage capital.
• Innovation: Work with stakeholders from across the business to explore new ways to drive profitability. This includes conducting exploratory data analysis, trialling new solutions and building pricing models using actuarial and/or data science based methods.
• Modernisation: Help define Analytics modernisation requirements and embed solutions into processes and tools. Work with the data organisation, underwriters and claims managers to ensure that data requirements are communicated and delivered, such that analysis can be completed seamlessly without creation of silos, rework and multiple versions of the truth. Be proactive in ensuring that the necessary data is captured from underwriting and claims to enhance future modelling capabilities.
• Identify opportunities and deliver improvements in both Analytics and wider business processes & methodologies.
• Build and maintain constructive working arrangements with those groups identified as being key to your role.
• Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives.
• Keep abreast of industry best practice, new initiatives, and changes in regulatory requirements.
• Undertake applicable professional, technical and career development training (delivered internally and externally); this includes maintaining actuarial PPD/CPD.

General: At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours. Adopt the Beazley culture of being bold, striving for better and doing the right thing. This contributes to an internal environment of teamwork and promotes a positive brand image and experience to our external customers.

Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct Rules. Undertake relevant training on Beazley policies and procedures as delivered by your line manager, Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.

Display business ethics that uphold the interests of all our customers. Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs. Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.

Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Education and Qualifications: University degree in Mathematics or related field. Actuarial qualification or good progress towards this.

Skills and Abilities:

• Competent user of MS Excel, VBA, SQL, R, Python, Power BI.
• 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, work on a number of tasks in parallel, meet deadlines and prioritise.
• Lateral and creative thinker, demonstrating independent problem solving.

Knowledge and Experience:

• General commercial and financial knowledge.
• Actuarial experience in insurance industry; pricing experience beneficial; Lloyd’s market knowledge desirable.
• Command of actuarial techniques.
• Understanding of reinsurance.
• Coding experience with R / Python.
• Data science knowledge and experience beneficial.

Aptitude and Disposition: Outcome focussed, self-motivated, flexible and enthusiastic. Professional approach to successfully interact with team members and stakeholders.

Competencies: Excellent communication skills, value focussed, analytical, using initiative, independent problem solving, having integrity, taking responsibility, being reliable, attention to detail.