At a Glance
- Tasks: Design and implement pricing models for Property insurance across a global organisation.
- Company: Join Starr, a rapidly growing global insurance and investment leader.
- Benefits: Inclusive culture, first-class training, and opportunities for personal growth.
- Other info: Dynamic work environment with a focus on collaboration and career development.
- 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 60000 - 80000 £ 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.
Role Purpose
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 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.
- Develop strong communication and collaboration with underwriters, capital and reserving.
- Ensure all regulatory requirements from Lloyd’s, PRA, FCA impacting Starr’s pricing function are known and addressed.
- Contribute to AFRs as required.
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.
Core behavioural competencies
- Analysis and decision making.
- Innovation and problem solving.
- Strategic perspective.
- Commerciality.
- Relationships.
- Communication and influence.
Additional Information
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
Starr is an exceptional employer, offering a dynamic work environment where talented individuals can thrive in the global insurance and investment sector. With a strong commitment to employee development, we provide first-class training opportunities and foster a culture of inclusivity and collaboration, ensuring that every associate can contribute meaningfully to our success. Join us in London, where you will be part of a passionate team dedicated to innovation and excellence in property insurance solutions.
StudySmarter Expert Advice🤫
We think this is how you could land Divisional Actuary, Property
✨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 IQUW). 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 IQUW. 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 Divisional Actuary, Property
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 IQUW.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at IQUW. 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 IQUW
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at IQUW 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 IQUW, 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 IQUW'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.
