At a Glance
- Tasks: Lead actuarial pricing for innovative insurance products and support broker negotiations.
- Company: Chaucer, a dynamic company with a focus on partnership and innovation.
- Benefits: Competitive salary, flexible working arrangements, and opportunities for professional growth.
- Other info: Join a diverse team committed to inclusivity and career development.
- Why this job: Make an impact in the insurance market while developing your skills in a collaborative environment.
- Qualifications: FIA Qualified Actuary with strong pricing experience and excellent communication skills.
The predicted salary is between 55000 - 65000 £ per year.
The Pricing Actuary will be responsible for actuarial pricing for Chaucer’s growing Partnership and Innovation portfolio across London and international offices. The role will be strongly underwriter and client-facing, incorporating support for broker negotiations, individual case pricing support, developing portfolio analytics capabilities, supporting strategic projects and developing new pricing capabilities. The Pricing Actuary will also provide pricing support for other classes and Group-wide projects as required.
The successful applicant will have strong technical pricing skills and strong project management and communication skills in order to provide effective broker and client support, and deliver across multiple workstreams and secure buy-in for new initiatives. We are looking for someone who enjoys solving problems and developing new ideas. The Pricing Actuary will be located within the Actuarial pricing team in London and work directly with the underwriting teams and other pricing actuaries under the guidance of the Head of Pricing / Insurance Pricing Manager / Reinsurance Pricing Manager.
Main duties
- Develop, support and provide oversight across pricing activities, working collaboratively with the Head of Pricing / Insurance Pricing Manager / Reinsurance Pricing Manager and other Pricing Actuaries.
- Account pricing and underwriter support for broker negotiations.
- Ongoing portfolio monitoring for accounts and overall portfolio.
- Pricing model and other tool development, in line with actuarial pricing frameworks and technological solutions.
- Pricing analytics and MI development and making use of available data to support risk selection and portfolio optimisation.
- Support for deep dives, model usage reviews, portfolio monitoring / steering.
- Ensure alignment of pricing with evolving exposure management practices and ‘Own View of Risk’ frameworks.
- Provide input into the development of modelling approaches where appropriate.
- Development of a deep understanding of the Partnership accounts, trends and underwriting team strategies.
- Contribute ideas to wider delegated underwriting authority and trading strategies.
- Keep abreast of industry initiatives, provide thought leadership, develop new pricing/visualisation techniques and best practice where opportunities arise.
- Work collaboratively with underwriters, the pricing team and underwriting management.
- Present and share knowledge with the wider Actuarial team on pricing approaches.
- Provide assistance with other pricing team activities as required.
- Project management of more junior team members & actuarial contributions to cross-functional projects.
Our requirements
Relevant experience
- Essential: Strong London Market pricing experience.
- Desirable: Experience of pricing bespoke deals and/or large facilities; experience of producing insights from portfolio data.
Technical skills
- Strong IT skills, including comprehensive knowledge of Excel; VBA, Python, SQL would be desirable.
Education & Experience
- Essential: FIA Qualified Actuary; 2.1 or 1st degree in Mathematics or Mathematics-related subject (e.g., Physics, Engineering, Statistics); 3 or more strong ‘A’ levels, including Maths.
Personal Skills
- Strong stakeholder and project management skills.
- Strong interpersonal, verbal and written skills.
- Able to collaborate, work as a team and communicate with staff at all levels.
- Intellectually curious and results-oriented with a strong sense of responsibility.
- Attention to detail.
- Self-motivated, hard-working and committed.
- Flexible and adaptable.
Other responsibilities
- Some travel in support of Underwriter/Client meetings and travel to Chaucer underwriting offices may be required.
Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK 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 one which 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. We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.
Pricing Actuary - Portfolio Solutions employer: Chaucer
Chaucer is an exceptional employer, offering a dynamic work environment in the heart of London where innovation and collaboration thrive. As a Pricing Actuary, you will benefit from a supportive culture that values diversity and encourages professional growth through exposure to bespoke partnership deals and strategic projects. With a commitment to flexible working arrangements and a focus on employee development, Chaucer provides a rewarding platform for actuaries looking to make a meaningful impact in the insurance market.
