At a Glance
- Tasks: Analyse and develop pricing strategies for Political Violence, Risk, and Credit portfolios.
- Company: Join Chaucer, a leading insurance group at Lloyd's with a global presence.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Other info: Dynamic work environment with potential for travel and career advancement.
- Why this job: Make an impact in the insurance industry while collaborating with diverse teams.
- Qualifications: Strong maths background and experience in general insurance pricing.
The predicted salary is between 56700 - 69300 £ per year.
The Pricing Actuary will be responsible for actuarial pricing primarily for Chaucer's Political Violence, Political Risk and Credit portfolios, focusing on account pricing, benchmark rate reviews, and portfolio analyses. The role will be strongly client-facing, incorporating support for broker negotiations, pricing support for insureds, and developing new pricing capabilities. The Pricing Actuary will also provide support for other classes as required within the insurance, reinsurance, and Partnership/Innovation divisions. The successful applicant will have strong technical pricing skills, good communication skills, and commercial awareness to provide effective broker and client support. The Pricing Actuary will be located within the Actuarial pricing team in London and work directly with the underwriting team under the guidance of the Insurance Pricing Manager.
Main duties
- Develop a deep understanding of the Political Violence, Political Risk and Credit classes, trends, and underwriting team strategy.
- Account pricing and underwriter support for broker negotiations.
- Ongoing portfolio monitoring for accounts and overall portfolio.
- Contributing ideas for new MI Model recalibration reviews.
- Support the collection and maintenance of pricing data.
- Keep abreast of industry initiatives and develop new pricing/visualisation techniques and best practices where opportunities arise.
- Collaborate, present, and share knowledge with the wider Actuarial team on pricing approaches.
- Assistance for other pricing team activities as required.
Our requirements
Relevant experience
- Essential: General insurance pricing experience.
- Desirable: Experience of Political Violence, Political Risk and Credit classes of business.
- Model development experience.
Technical skills
- Essential: Strong IT skills, including comprehensive knowledge of Excel and VBA.
- Desirable: R or Python SQL; experience in building and using dashboards in Power BI.
Education & Experience
- Essential: 2.1 or 1st degree in Maths or a Maths-related subject (e.g. Physics, Engineering, Statistics); 3 or more strong 'A' levels, including Maths.
- Desirable: FIA qualified (candidates making good progress towards FIA will be considered; note that if not qualified, the job title would be "Senior Pricing Analyst" until qualification).
Personal skills
- Attention to detail.
- Self-motivated.
- Hard working and committed.
- Professionally presented.
- Organised and clear thinking.
- Flexible and adaptable.
- Ability to plan, organise work and multitask to meet targets and deadlines.
- Able to collaborate, work as a team, and communicate with staff at all levels.
Other responsibilities
- Some travel in support of Underwriter/Client meetings may be required.
Pricing Actuary in City of Westminster employer: Chaucer
Chaucer is an exceptional employer located in the heart of London, offering a dynamic work environment that values diversity and promotes flexible working arrangements. As a leader in the insurance market, we provide our employees with ample opportunities for professional growth and development, ensuring that you can thrive in your career while making a meaningful impact in compliance monitoring.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Actuary in City of Westminster
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Chaucer). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Chaucer. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Pricing Actuary in City of Westminster
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Chaucer.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Chaucer. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Chaucer
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Chaucer to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Chaucer, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Chaucer's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
