At a Glance
- Tasks: Design and implement pricing models for Property insurance across a global organisation.
- Company: Join Starr, a rapidly expanding global insurance and investment organisation.
- Benefits: First-class training, inclusive environment, and opportunities for personal growth.
- Other info: Collaborative culture focused on developing talent and fostering innovation.
- Why this job: Make a real impact in the insurance industry with innovative pricing strategies.
- Qualifications: Qualified actuary with experience in Commercial Property and programming skills.
The predicted salary is between 70000 - 90000 £ per year.
Starr is a global insurance and investment organisation providing property and casualty insurance solutions to business and industry. Starr has grown into one of the world’s fastest‑expanding insurance organisations, writing business in 128 countries across six continents. Our talented and experienced associates manage risk and ultimately support the profitable growth of organisations in a dynamic, competitive and ever-changing marketplace. Join us and become part of our talented and passionate workforce.
The primary focus of the Divisional Actuary is to design and implement pricing models and processes for the syndicate, across Property classes.
Key Responsibilities- Responsible for designing and implementing pricing models and processes, across Property classes.
- Work with underwriters to define key policy features.
- Identify internal and external data sources.
- Set up pricing templates and models for use by underwriters.
- Assist with the implementation and maintenance of pricing software.
- Work closely with the Exposure Management team to monitor aggregations.
- Assist with forming a Starr's view of risk across modelled and non-modelled perils.
- Act as expert adviser to underwriters using the pricing software, adding bespoke features as required.
- Monitor and report various pricing metrics (e.g. pricing adequacy, RARC etc.).
- Develop MI to identify underperforming segments.
- Significant contribution to portfolio optimisation and capital allocation workstreams.
- Part of feedback loop between annual planning cycle, reserving, pricing and capital.
- Ensure all regulatory requirements from Lloyd’s, PRA, FCA impacting Starr’s pricing function are known and addressed. Contribute to AFRs as required.
- Develop strong communication and collaboration with underwriters, capital and reserving.
The above duties and responsibilities are not an exhaustive list, and you may be required to undertake other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.
Qualifications, skills and experience- Qualified actuary (FIA or equivalent)
- Experience with Commercial Property classes, especially in the London Market
- Experience with Python/R/SQL
- Experience with Hx, a plus
- Prior managerial experience
- Analysis and decision making
- Innovation and problem solving
- Strategic perspective
- Commerciality
- Relationships
- Communication and influence
Starr is an equal opportunity employer, which means we will consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we’re committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.
Divisional Actuary, Property employer: IQUW Group
Starr is an exceptional employer, offering a dynamic work culture that fosters innovation and collaboration among its talented workforce. With a strong commitment to employee development, we provide first-class training opportunities and a clear pathway for career growth, particularly in the vibrant London Market. Join us to be part of a global leader in insurance, where your contributions directly impact our success and the success of our clients across 128 countries.
StudySmarter Expert Advice🤫
We think this is how you could land Divisional Actuary, Property
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, and don’t be shy about reaching out to current employees at Starr. A friendly chat can sometimes lead to opportunities that aren’t even advertised.
✨Show Off Your Skills
When you get the chance to meet potential employers or during interviews, make sure to highlight your experience with pricing models and software. Bring examples of your work or discuss how you've tackled similar challenges in the past.
✨Tailor Your Approach
Every interaction is a chance to showcase why you’re the perfect fit for the Divisional Actuary role. Make sure to align your discussions with Starr’s values and the specific requirements of the job. It shows you’ve done your homework!
✨Apply Through Our Website
Don’t forget to apply directly through the Starr website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in being part of the team.
We think you need these skills to ace Divisional Actuary, Property
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Divisional Actuary role. Highlight your experience with pricing models and any relevant software skills, like Python or SQL. We want to see how your background fits with what we do at Starr!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about the property insurance sector and how your skills can contribute to our team. Let us know what excites you about working with us at Starr.
Showcase Your Achievements:Don’t just list your responsibilities; showcase your achievements! Use specific examples of how you've successfully implemented pricing models or improved processes in your previous roles. We love seeing results!
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at IQUW Group
✨Know Your Numbers
As a Divisional Actuary, you'll be dealing with pricing models and metrics. Brush up on your knowledge of key pricing metrics like RARC and pricing adequacy. Be ready to discuss how you've used these in past roles or how you would approach them at Starr.
✨Showcase Your Technical Skills
Make sure to highlight your experience with Python, R, or SQL during the interview. Prepare examples of how you've used these tools to develop pricing models or analyse data. This will demonstrate your technical prowess and relevance to the role.
✨Understand the Market
Familiarise yourself with the Commercial Property classes, especially within the London Market. Be prepared to discuss current trends and challenges in the industry, as well as how they might impact pricing strategies at Starr.
✨Communicate Effectively
Since collaboration with underwriters and other teams is key, practice articulating your thoughts clearly. Think of examples where you've successfully communicated complex actuarial concepts to non-technical stakeholders, showcasing your ability to influence and build relationships.
