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- Tasks: Lead pricing strategies and enhance models for commercial insurance.
- Company: Dynamic insurance firm in London with a focus on innovation.
- Benefits: Competitive salary, career development, and a collaborative work environment.
- Other info: Opportunity to mentor junior team members and grow your career.
- Why this job: Join a team shaping the future of insurance pricing and make a real impact.
- Qualifications: Qualified actuary with 5+ years in General Insurance pricing.
The predicted salary is between 60000 - 80000 £ per year.
This is a new role for a qualified actuary (or equivalent) with deep experience of pricing for commercial and speciality lines and a broad General Insurance skillset. The successful candidate will be reporting to the Group Head of Pricing and Capital and will be responsible for underwriter relationships, pricing models, case pricing and wider pricing activities across all Lancashire entities. The right candidate should be able to work independently, manage their own time and that of the pricing & portfolio management team, and communicate well with all business functions. They should also be able to train junior team members and their direct reports. They should have a commercial focus which will benefit the company.
Specific Responsibilities
- Act as a main point of contact within the Actuarial Function for key underwriting teams within Lancashire.
- Deploy pricing models for new lines of business.
- Maintain existing pricing models and enhance in line with best in class principles.
- Integrate key systems with the pricing platforms to leverage data and functionality.
- Ensuring models and processes are aligned with both Lloyd’s principles at the required maturity and the Lancashire view of pricing best practice.
- Update parameters for pricing models, using Lancashire and benchmark data.
- Conduct annual model reviews in accordance with the Pricing Policy.
- Upkeep of relevant documentation libraries.
- Provide data driven insights to underwriting decision making.
- Research market trends and use external datasets to provide underwriting insights and develop innovative pricing approaches.
- Undertake Case pricing reviews, manage the Case Pricing workload of the team and ensure alignment to Case Pricing terms of reference.
- Contribute to an enhanced pricing MI suite for Lancashire.
- Manage the junior member of the pricing team and provide appropriate on the job training.
- Attend relevant committees.
- Undertake project work for the Group Head of Pricing and Capital, as necessary.
- Provide support to other actuarial functions, as required. This includes reserving, capital modelling, catastrophe exposure analytics and validation.
- To act in accordance with all applicable Supervisory Bodies, principles, rules and regulations.
Essential Skills & Requirements
- Qualified actuary (or near).
- Minimum 5 years’ experience in General Insurance in a pricing role.
- Extensive Lloyd’s or London Market experience.
- Experience of building, maintaining and enhancing pricing models.
- Experience of case pricing.
- Excellent IT skills, including Python, MS Excel, VBA, MS Access, SQL, R, Power BI.
- Knowledge of pricing platforms, preferably hx:Renew.
- Strong analytical, technical and presentational skills to enable the results of actuarial analysis and of actuarial methods to be communicated to a non-actuarial audience.
- Problem solving skills and project management skills.
- Excellent interpersonal skills, as there will be a high level of communication.
- Good attention to detail.
- Able to work well under pressure and time manage.
Pricing Actuary employer: Lancashire Group
Contact Detail:
Lancashire Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Actuary
✨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 professionals on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that Pricing Actuary role.
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your experience with pricing models and your analytical skills. We want to see how you can bring value to their team, so share specific examples of your past successes and how you’ve tackled challenges in your previous roles.
✨Prepare for Interviews
Do your homework before any interview! Research the company, understand their pricing strategies, and be ready to discuss how your background aligns with their needs. We recommend practising common interview questions and preparing some insightful questions of your own to show your interest.
✨Apply Through Our Website
Don’t forget to apply directly through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who take the initiative to engage with us directly. Let’s get you that Pricing Actuary position!
We think you need these skills to ace Pricing Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Pricing Actuary role. Highlight your experience in pricing for commercial and specialty lines, and don’t forget to showcase your skills in building and maintaining pricing models. We want to see how your background aligns with what we’re looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re the perfect fit for this role. Mention your experience in the Lloyd’s or London Market and how you can contribute to our team. Remember, we love a good story, so make it engaging!
Show Off Your Technical Skills: We’re looking for someone with strong IT skills, so don’t hold back! List your proficiency in Python, MS Excel, SQL, and any other relevant tools. If you’ve worked with pricing platforms like hx:Renew, make sure to mention that too. We want to know what you bring to the table!
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates. Plus, it shows you’re keen on joining our team at StudySmarter!
How to prepare for a job interview at Lancashire Group
✨Know Your Pricing Models
Make sure you brush up on the pricing models you've worked with in the past. Be ready to discuss how you've built, maintained, and enhanced these models, especially in relation to commercial and specialty lines. This will show your deep understanding of the role and your ability to contribute from day one.
✨Showcase Your Analytical Skills
Prepare to demonstrate your analytical prowess. Bring examples of how you've used data-driven insights to influence underwriting decisions. Highlight any experience with tools like Python, SQL, or Power BI, as this will resonate well with the interviewers.
✨Communicate Effectively
Since you'll be liaising with various teams, practice explaining complex actuarial concepts in simple terms. Think about how you can convey your ideas clearly to non-actuarial audiences. This skill is crucial for building strong relationships within the company.
✨Be a Team Player
Emphasise your experience in training junior team members and managing workloads. Share specific instances where you've successfully collaborated with others or led a project. This will highlight your leadership potential and your ability to work well under pressure.