At a Glance
- Tasks: Develop and maintain pricing models for insurance and reinsurance.
- Company: Dynamic actuarial team in the heart of London.
- Benefits: Competitive salary, bonus, hybrid working, and professional development.
- Other info: Collaborative environment with opportunities for continuous improvement.
- Why this job: Join a team that drives innovation in pricing and makes a real impact.
- Qualifications: Nearly or newly qualified actuary with strong analytical skills.
We are seeking a nearly or newly qualified Pricing Actuary to join a dynamic actuarial team based in the City of London. This position sits within the underwriting support function and is critical in expanding and enhancing pricing capabilities across multiple lines of insurance and reinsurance business.
The role involves the development, maintenance, and validation of pricing models that are used throughout the underwriting process. You will conduct individual case pricing, support underwriting teams with technical pricing input, and contribute valuable insights to business planning and reserving. Strong working relationships with cross-functional teams including underwriting, claims, exposure management, and finance are essential.
Key responsibilities include:
- Developing and maintaining robust, accurate pricing models for all classes of business
- Ensuring continued documentation, testing, and validation of models and tools
- Performing case pricing and regular rate monitoring on individual risks
- Collaborating with underwriters to support and implement technical pricing initiatives
- Feeding pricing intelligence into broader business processes
- Contributing to cross-business projects, including system transformations and process improvements
- Functioning as an effective team member and performing peer reviews for quality assurance
To be successful in this role, you should possess the following skills and qualifications:
- Nearly or newly qualified actuary with London market experience
- Strong understanding of actuarial pricing techniques and model validation processes
- Experience with a variety of insurance and reinsurance product lines
- Understanding of catastrophe modelling, inwards and outwards reinsurance principles
- Advanced Microsoft Excel skills; proficiency in VBA, Python, Access or R is desirable
- Excellent analytical and problem-solving skills, with strong attention to detail
- Strong communication skills, capable of translating technical information clearly to stakeholders
- Self-motivated, proactive, and able to work well both independently and collaboratively
The successful candidate will be motivated by continuous improvement and able to influence positive change across actuarial and underwriting functions. A professional and inclusive approach, combined with a strong team ethic, is essential.
Salary: £90,000 to £120,000 per year + Bonus + Benefits
Location: City of London, Greater London, United Kingdom
Hybrid working
Pricing Actuary employer: Gravitas Group
As a global leader in risk and reinsurance, our client offers an exceptional work environment that prioritises collaboration, inclusivity, and professional development. The role of International Contracts Leader not only provides the opportunity to shape contract strategy across UK and Europe but also fosters personal growth through exposure to complex contractual issues and stakeholder management. With a commitment to innovation and high-quality standards, employees are empowered to thrive in a hybrid working model while contributing to meaningful solutions for clients.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Actuary
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Gravitas Group). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Gravitas Group. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Pricing Actuary
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Gravitas Group.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Gravitas Group. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Gravitas Group
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Gravitas Group to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Gravitas Group, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Gravitas Group's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
