Pricing Actuary in London

Overview Job Title: Pricing Actuary
Division: Finance – Actuarial
Reports To: Lead Pricing Actuary – Property 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 Property Risks Division at Beazley

Responsibilities

Provide pricing support to the Property Risks underwriting teams at Beazley; pricing support includes (as required):

Developing pricing tools that support the estimation of price adequacy and rate change

Performing portfolio and transactional pricing analyses

Performing segmental and trend analyses

Performance monitoring (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 where required.

Provide training to underwriters in pricing; this includes technical pricing and rate change requirements

Understand and support the 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 in the delivery and achievement of overall team and business objectives

Build your technical pricing skills and experience

Provide support and mentoring to the 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 those groups identified as being key to your role

Work with the underwriters, exposure management, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of the data used for pricing; ensure the necessary data is captured from pricing tools to enhance future pricing capabilities

Maintain pricing model documentation with required frequency, obtaining the appropriate managerial sign-offs

Identify opportunities and contribute to delivering improvements in the pricing processes and methodologies

Undertake professional, technical and career development training (delivered internally and externally); this includes pursuing the actuarial qualification where applicable

General
It Is Important That Within All Your Interactions Both Internally And Externally You Adhere To Beazley\’s Core Values – Being Bold, Striving For Better, And Doing The Right Thing – As They Contribute To An Internal Environment Of Teamwork And Promote a Positive Brand Image And Experience To Our External Customers. We Also Expect Beazley Employees To

Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct.

Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability 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 People & Sustainability 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.

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 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

Who We Are
Beazley is a specialist insurance company with over 30 years\’ experience helping people, communities and businesses to manage risk all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market. Our goal is to become the highest performing sustainable specialist insurer.

Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.

Our Culture
We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee\’s diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.

Be bold

Strive for better

Do the right thing

Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us – our ambitious inclusion & diversity and sustainability targets are testament to this.

We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.

Explore a variety of networks to assist with professional and/or personal development. Our Employee Networks include

Beazley RACE – Including, understanding and celebrating People of Colour

Beazley SHE – Successful, High potential, Empowered women in insurance

Beazley Proud – Our global LGBTQ+ community

Beazley Wellbeing – Supporting employees with their mental wellbeing

Beazley Families – Supporting families and parents-to-be

We Encourage Internal Career Progression At Beazley, Giving You All The Tools You Need To Drive Your Own Career Here, Such As

Internal Pathways (helping you grow into an underwriting role)

iLearn (our own learning & development platform)

LinkedIn Learning

Mentorship program

External qualification sponsorship

Continuing education and tuition reimbursement

Secondment assignments

The Rewards
The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, global organization.

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 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your religious beliefs, subject to approval. Additional annual leave purchase is also 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

The 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 our employees to do what works best for them, their role and the needs of the business

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