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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 global presence.
- Benefits: Competitive salary, professional development, and opportunities for mentorship.
- 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: Collaborative environment with excellent career growth potential.
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.
- 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.
- 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.
- 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.
- Monitor claims reserving levels, and reserves on major events.
- Communicate movements in reserves to underwriting management teams to ensure timely and informed decision-making.
- 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.
- 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.
- 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.
- 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 in London 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 in London
✨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 practising common questions and scenarios related to commercial insurance pricing. We recommend doing mock interviews with friends or mentors to boost your confidence and refine your answers.
✨Tip Number 3
Showcase your leadership skills! Be ready to discuss past experiences where you led projects or teams, especially in complex pricing environments. We want to see how you can contribute to shaping the future of the pricing team.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Commercial Insurance Pricing and Portfolio Manager, COG in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the specific skills and experiences mentioned in the job description. Highlight your actuarial pricing experience and leadership skills, as these are key for the role.
Craft a Compelling Cover Letter: Use your cover letter to tell us why you're the perfect fit for this position. Share examples of your past projects and how they align with our needs in commercial insurance pricing and portfolio management.
Showcase Your Communication Skills: Since excellent communication is crucial for this role, make sure your application is clear and concise. Use straightforward language and structure your thoughts logically to demonstrate your ability to convey complex information.
Apply Through Our Website: We encourage you to apply directly through our website. This way, we can ensure your application gets the attention it deserves and you can easily track your application status.
How to prepare for a job interview at Chubb
✨Know Your Numbers
As a candidate for the Commercial Insurance Pricing and Portfolio Manager role, it's crucial to brush up on your actuarial pricing knowledge. Be prepared to discuss specific pricing models you've developed or worked with, and how they impacted profitability. This shows you not only understand the theory but can apply it in real-world scenarios.
✨Showcase Leadership Skills
This role requires strong leadership and stakeholder management skills. Think of examples where you've led teams or projects successfully. Be ready to share how you motivated your team, resolved conflicts, or influenced decision-making processes. This will demonstrate your capability to lead within a global or multi-regional environment.
✨Communicate Clearly
Excellent communication is key in this position. Practice explaining complex actuarial concepts in simple terms, as you may need to liaise with non-actuarial stakeholders. During the interview, focus on clarity and conciseness in your responses to show that you can effectively communicate across different teams.
✨Prepare for Portfolio Management Questions
Expect questions related to portfolio monitoring and profitability studies. Familiarise yourself with best practices in these areas and be ready to discuss how you've implemented similar frameworks in past roles. Highlight any experience you have with data analytics and how it has informed your decision-making in pricing strategies.
