At a Glance
- Tasks: Shape pricing strategy and manage portfolios in Financial Lines and Cyber.
- 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.
- 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 employer: Job Search Place Limited
Chubb is an exceptional employer, offering a collaborative culture and a commitment to professional development that empowers employees to excel in their roles. As a Senior Pricing Actuary in London, you will benefit from exposure to senior management, opportunities for impactful contributions to pricing strategy, and the chance to work with a high-performing team dedicated to innovation in the insurance sector. With a focus on employee growth and a supportive environment, Chubb stands out as a rewarding place to build your career in the financial lines and cyber insurance space.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Pricing Actuary, Financial Lines & Cyber
✨Dive Into Industry Networking Events
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We think you need these skills to ace Senior Pricing Actuary, Financial Lines & Cyber
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 Job Search Place Limited.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Job Search Place Limited. 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 Job Search Place Limited
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Job Search Place Limited to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
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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 Job Search Place Limited, 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 Job Search Place Limited'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.
