Pricing Actuary

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

• General insurance pricing 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 PowerBI.

Education & Experience

• Essential: 2.1 or 1st degree in Maths or a Maths-related subject (e.g. Physics, Engineering, Statistics), 3 or more ‘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.

Equal Opportunities

Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation). A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and ensures we select the right person for the job based on merit. We are committed to promoting a culture that actively values difference and recognises that everyone has the right to be treated with dignity and respect throughout their employment.