At a Glance
- Tasks: Shape pricing strategy and manage portfolios in Financial Lines and Cyber insurance.
- Company: Join Chubb, a global leader in insurance with a collaborative culture.
- Benefits: Competitive salary, professional development, and opportunities for career growth.
- Other info: Dynamic role with opportunities to work globally and enhance technical capabilities.
- Why this job: Make a real impact in a high-performing team with significant exposure to senior management.
- Qualifications: Qualified Actuary with 3+ years in pricing or reserving, strong communication and leadership skills.
The predicted salary is between 60000 - 80000 £ per year.
Chubb is a world leader in insurance, with operations in 54 countries and territories. We are known for our technical expertise, disciplined underwriting and collaborative culture. This is an opportunity to join a high-performing team and play a key role in shaping pricing strategy and portfolio performance across Financial Lines and Cyber.
Chubb is seeking a Senior Actuary – Financial Lines and Cyber to provide actuarial pricing and portfolio management support to the Chubb Overseas General (COG) Financial Lines and Cyber Underwriting Team. The role covers all aspects of pricing, including building and calibrating pricing models, profitability studies, outwards reinsurance, planning and price monitoring. You will work closely with pricing and underwriting teams across geographic regions, as well as the ceded reinsurance, claims, reserving and capital modelling teams. The role has significant exposure to senior management, so confidence, technical expertise and strong communication skills are essential. It also includes direct line management of two actuarial analysts.
Key Responsibilities
- Rating
- Review and approve new rating models and major recalibration exercises to ensure accuracy and alignment with best practice.
- Maintain the global raters and support regional underwriting teams with rating queries.
- Facilitate knowledge sharing and collaboration across regions through round tables and regular meetings.
- Provide pricing support and opinion to underwriters on individual large account pricing.
- Improve the quality of data captured within rating models and consolidated at COG level.
- Portfolio Management and Profitability Studies
- Conduct peer reviews of regional portfolio assessments to ensure consistency, accuracy and robust benchmarking.
- Work with underwriting management teams to develop and implement strategies to improve portfolio profitability.
- Investigate trends and changes in performance to identify shifts in profitability.
- Carry out ad hoc profitability studies to support the strategic aims of the business.
- Planning
- Coordinate the COG business plan through management of regional pricing teams.
- Review regional submissions to ensure consistency across markets.
- Reinsurance
- Oversee the completion of reinsurance submissions for internal and external arrangements, ensuring accuracy and timeliness.
- Evaluate outwards external reinsurance purchases, including direct engagement with reinsurance brokers to support optimal reinsurance strategy.
- Review RI premium allocations across regions and products.
- Data and Analytics
- Work with COG analytics teams to implement best practice in modelling and data techniques.
- Identify opportunities for regional analytics teams to supplement analysis with external data and data scraping of policy and claims documentation.
- Continuously improve the quality of data capture in strategic data assets.
- Reporting
- Produce regular management reports covering rate change monitoring, price adequacy, exposure trends and other ad hoc reporting.
- Discuss COG-wide trends with regional actuarial and underwriting teams.
- Help implement best practice and minimum KPI standards.
- Other
- Provide feedback to the Chubb Group Risk Modelling Unit to help define hurdle combined ratios.
- Present quarterly actuarial updates to the Financial Lines Product Board and Cyber Quarterly Board.
- Continue to build technical capability through ongoing professional development.
Qualifications
Key Skills & Experience:
- Qualified Actuary
- Minimum 3 years’ hands-on pricing or reserving experience in Financial Lines.
- A track record of building and implementing pricing models and/or portfolio monitoring tools.
- Strong communication skills and the ability to adapt to different stakeholder reporting requirements.
- Strong leadership and stakeholder management skills.
- Proven ability to build and maintain effective relationships with underwriters and senior management.
- Experience working in a global or multi-regional environment, which is highly desirable.
- Experience using large datasets, including basic knowledge of SQL or Python.
- Experience with GLM/GBM modelling.
- Excellent Excel skills, including formulas and presentation.
Senior Pricing Actuary, Financial Lines & Cyber in London employer: Chubb
Chubb is an exceptional employer, offering a dynamic work environment that fosters collaboration and innovation within the insurance sector. As a Senior Pricing Actuary, you will benefit from extensive professional development opportunities, a supportive culture that values technical expertise, and the chance to make a significant impact on pricing strategy across Financial Lines and Cyber. With operations in 54 countries, Chubb provides a unique global perspective and the opportunity to work closely with senior management, enhancing your career growth in a leading multinational company.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Pricing Actuary, Financial Lines & Cyber in London
✨Tip Number 1
Network like a pro! Reach out to connections in the insurance and actuarial fields, especially those at Chubb. A friendly chat can open doors that applications alone can't.
✨Tip Number 2
Prepare for interviews by brushing up on your technical skills and industry knowledge. Be ready to discuss your experience with pricing models and portfolio management – it’s your time to shine!
✨Tip Number 3
Showcase your leadership skills! If you’ve managed teams or projects, be sure to highlight this in conversations. Chubb values strong leadership, so let them know you’re up for the challenge.
✨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 take the initiative to connect directly.
We think you need these skills to ace Senior Pricing Actuary, Financial Lines & Cyber 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 hands-on pricing experience and any relevant projects you've worked on, especially in Financial Lines and Cyber.
Craft a Compelling Cover Letter:Use your cover letter to tell us why you're the perfect fit for the Senior Actuary role. Share your passion for actuarial work and how your background aligns with our collaborative culture and technical expertise.
Showcase Your Communication Skills:Since strong communication is key for this role, make sure to demonstrate your ability to convey complex ideas clearly in your application. Use examples from your past experiences where you successfully communicated with stakeholders.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows your enthusiasm for joining our team!
How to prepare for a job interview at Chubb
✨Know Your Numbers
As a Senior Pricing Actuary, you'll need to demonstrate your technical expertise. Brush up on your pricing models and be ready to discuss specific examples of how you've built or calibrated them in the past. Show that you understand the intricacies of profitability studies and can articulate your thought process clearly.
✨Communicate with Confidence
Strong communication skills are essential for this role, especially since you'll be interacting with senior management. Practice explaining complex actuarial concepts in simple terms. Use examples from your previous experience to illustrate your points and show how you can adapt your communication style to different stakeholders.
✨Showcase Leadership Skills
You'll be managing two actuarial analysts, so it's important to highlight your leadership experience. Prepare to discuss how you've mentored or guided team members in the past. Think about specific situations where you facilitated knowledge sharing or improved team collaboration, as these will resonate well with the interviewers.
✨Data is Your Best Friend
Familiarise yourself with data analytics tools and techniques, especially if you have experience with SQL or Python. Be prepared to discuss how you've used large datasets in your previous roles to drive decision-making. Highlight any innovative approaches you've taken to improve data quality or capture, as this aligns with the expectations of the role.
