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- Tasks: Lead actuarial pricing and portfolio management for a dynamic insurance team.
- Company: Join Chubb, a leader in commercial insurance with a focus on innovation.
- Benefits: Competitive salary, professional development, and opportunities for global collaboration.
- Why this job: Shape the future of digital insurance while making a real impact.
- Qualifications: Qualified actuary with strong leadership and pricing experience.
- Other info: Mentorship opportunities and a supportive environment for career growth.
The predicted salary is between 48000 - 72000 £ per year.
The role consists of providing actuarial pricing and portfolio management support to the Chubb Overseas General (COG) Commercial Insurance (CI) Underwriting Team. They will be the actuarial lead for all CI and DCI (digital commercial insurance) actuaries. The role-holder should be a strong leader with a knowledge of multi-line commercial digital/non-digital insurance, playing a pivotal role in shaping and informing this rapidly growing and transforming area of the business. They will be a key contributor to the direction of the pricing team and will be responsible for the management and delivery of pricing projects. The role-holder will be expected to liaise closely with the pricing teams in each geographic region, the global catastrophe modelling unit, the ceded reinsurance team, the claims function, reserving and capital modelling teams. The role reports to the Head of Pricing for COG (Property and Casualty), with a matrix to the Head of CI & Specialty, COG.
Key Requirements
- Qualified actuary.
- Significant experience in actuarial pricing.
- Excellent communication skills.
- Strong leadership and stakeholder management skills.
- In-depth knowledge of multi-line digital insurance products and markets.
- Proven ability to manage and deliver complex pricing projects.
- Experience of working in a global or multi-regional environment is highly desirable.
Portfolio Management & Profitability Studies
- Design and promote a best practice framework for portfolio monitoring.
- Review regional capabilities, outcomes, and development roadmaps; provide feedback on gaps and suggest alternative solutions where appropriate.
- Collaborate with COG management to establish the frequency and format for regular portfolio review meetings.
- Work closely with underwriting management teams to formulate and implement strategies aimed at improving the profitability of the overall portfolio.
- Conduct peer reviews of regional portfolio assessments to ensure consistency, accuracy, and adherence to best practices.
- Investigate trends or changes in performance to identify shifts in profitability.
- Carry out profitability studies to support the strategic aims of the business.
Planning
- Oversee and coordinate the business planning process for CI by managing and aligning the activities of regional pricing teams.
- Analyse Probable Maximum Loss (PML) requests as reflected in business plans to ensure alignment with risk appetite and strategic objectives.
Reporting
- Assist in the production of regular management reports for rate change monitoring, price adequacy statistics, exposure trend and other ad hoc reports.
- Design management information dashboards to enable data to be quickly queried to understand drivers of performance metrics.
- Improve and enhance the quality of data being captured within the rating models and collated at a COG level.
- Discuss COG wide trends with the regional actuarial / underwriting teams.
- Implement best practice and minimum standards for KPIs.
Reserving
- Monitor claims reserving levels, and reserves on major events.
- Communicate movements in reserves to underwriting management teams to ensure timely and informed decision-making.
Reinsurance
- Oversee the completion of reinsurance submissions for both internal and external reinsurance arrangements, ensuring accuracy and timeliness.
- Evaluate individual outwards external reinsurance purchases, including direct engagement and meetings with reinsurance brokers to support optimal reinsurance strategies.
- Review RI premium allocations.
Data and Analytics
- Work with COG and regional data and analytics teams to implement best practices in modelling and data techniques.
- Work with claims to help define the data roadmap to feed into underwriting decision-making tools.
- Provide feedback to Chubb Group Risk Modelling Unit in order to help define the hurdle combined ratios.
- Participate and present quarterly actuarial updates to the DCI Product Board.
- Mentor and support the professional development of junior actuaries within the team.
- Pursue ongoing education opportunities to enhance technical skills and maintain professional actuarial credentials.
Qualifications Knowledge:
- Fellow of the Institute of Actuaries or equivalent.
- Extensive knowledge of commercial insurance both digital / non-digital.
- Knowledge of property, casualty, cyber, financial lines and marine insurance products.
Experience:
- Minimum five years’ of hands-on pricing experience.
- Demonstrated project management expertise and strong leadership skills, with a proven ability to lead teams and deliver complex projects.
- A track record of successfully building and implementing pricing models and portfolio monitoring tools, particularly in digital insurance.
- Proven ability to build and maintain effective working relationships with underwriters and senior management.
Commercial Insurance Pricing and Portfolio Manager, COG employer: Chubb
Contact Detail:
Chubb Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Commercial Insurance Pricing and Portfolio Manager, COG
✨Tip Number 1
Network like a pro! Reach out to industry contacts on LinkedIn or attend relevant events. We all know that sometimes it’s not just what you know, but who you know that can land you that dream job.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. We want to show them that we’re not just a good fit for the role, but also for the team. Tailor your answers to reflect their values and goals.
✨Tip Number 3
Practice makes perfect! Do mock interviews with friends or use online platforms. We need to be confident in articulating our experience and how it aligns with the role of a Commercial Insurance Pricing and Portfolio Manager.
✨Tip Number 4
Don’t forget to follow up after interviews! A quick thank-you email can go a long way. It shows our enthusiasm for the position and keeps us fresh in their minds. Plus, it’s a great chance to reiterate why we’re the best fit!
We think you need these skills to ace Commercial Insurance Pricing and Portfolio Manager, COG
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to highlight your experience in actuarial pricing and portfolio management. Use keywords from the job description to show that you understand what we're looking for.
Showcase Leadership Skills: Since this role requires strong leadership, don’t forget to showcase your leadership experiences. Share examples of how you've led teams or projects, especially in a global or multi-regional context.
Communicate Clearly: Excellent communication skills are a must! Make sure your application is clear and concise. Use straightforward language to explain your experience and how it aligns with the role.
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you’re considered for the role!
How to prepare for a job interview at Chubb
✨Know Your Numbers
As a Commercial Insurance Pricing and Portfolio Manager, you'll need to demonstrate your strong grasp of actuarial pricing. Brush up on key metrics and recent trends in the commercial insurance market, especially in digital and non-digital sectors. Be ready to discuss how you've applied these insights in past roles.
✨Showcase Leadership Skills
This role requires strong leadership and stakeholder management skills. Prepare examples of how you've led teams or projects in the past, particularly in complex pricing scenarios. Highlight your ability to mentor junior actuaries and collaborate with various teams to achieve common goals.
✨Communicate Clearly
Excellent communication is crucial for this position. Practice explaining complex actuarial concepts in simple terms, as you’ll need to liaise with underwriting teams and management. Consider preparing a few key points on how you’ve successfully communicated findings or strategies in previous roles.
✨Prepare for Scenario Questions
Expect scenario-based questions that assess your problem-solving abilities in portfolio management and profitability studies. Think about past challenges you've faced in pricing projects and how you navigated them. Be ready to discuss your thought process and the outcomes of your decisions.
