At a Glance
- Tasks: Lead pricing initiatives and collaborate with underwriting teams to enhance pricing models.
- Company: Dynamic insurance firm with a focus on innovation and collaboration.
- Benefits: Competitive salary, professional development, and opportunities for career advancement.
- Other info: Exciting projects and a supportive environment for growth and learning.
- Why this job: Join a forward-thinking team and make a real impact in the insurance industry.
- Qualifications: Qualified actuary with 5+ years in General Insurance pricing and strong analytical skills.
The predicted salary is between 60000 - 80000 € per year.
Role Overview
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 report 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.
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 them in line with best in class principles.
- Integrate key systems with the pricing platforms to leverage data and functionality.
- Ensure models and processes are aligned with Lloyd’s principles and Lancashire best practice.
- Update parameters for pricing models, using Lancashire and benchmark data.
- Conduct annual model reviews in accordance with the Pricing Policy.
- Maintain 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 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, including reserving, capital modelling, catastrophe exposure analytics and validation.
- 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 building, maintaining and enhancing pricing models.
- Experience with 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 communicate actuarial results to a non-actuarial audience.
- Problem-solving and project-management skills.
- Excellent interpersonal skills, with high level of communication.
- Good attention to detail.
- Ability to work well under pressure and time manage.
Department: Actuarial
Location: London
Pricing Actuary in London employer: Lancashire Insurance Group
At Lancashire, we pride ourselves on being an exceptional employer, offering a dynamic work environment in the heart of London. Our culture fosters collaboration and innovation, providing ample opportunities for professional growth and development, particularly for our Pricing Actuary role. With a commitment to best practices and cutting-edge pricing models, we empower our employees to make impactful contributions while enjoying a supportive atmosphere that values work-life balance.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Actuary in London
✨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 dream job.
✨Show Off Your Skills
When you get the chance to meet potential employers, make sure to highlight your experience with pricing models and your analytical skills. Bring examples of your work or even a portfolio if you can. We want to see how you can bring value to the team!
✨Prepare for Interviews
Do your homework before interviews! Research the company, understand their pricing strategies, and be ready to discuss how your experience aligns with their needs. We recommend practising common interview questions related to pricing and actuarial functions to boost your confidence.
✨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 are proactive and genuinely interested in joining our team.
We think you need these skills to ace Pricing Actuary in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV highlights your experience in pricing for commercial and speciality lines. We want to see how your skills align with the role, so don’t be shy about showcasing your relevant achievements!
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 Pricing Actuary role. Mention specific experiences that relate to the responsibilities listed in the job description.
Show Off Your Technical Skills:We’re looking for someone with strong IT skills, especially in Python, Excel, and SQL. Make sure to include any relevant projects or experiences that demonstrate your technical prowess in your application.
Apply Through Our Website:Don’t forget to submit your application through our website! It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it’s super easy!
How to prepare for a job interview at Lancashire Insurance Group
✨Know Your Pricing Models
Make sure you’re well-versed in the pricing models relevant to commercial and specialty lines. Be ready to discuss how you've built, maintained, or enhanced these models in your previous roles. This will show that you have the hands-on experience they’re looking for.
✨Showcase Your Analytical Skills
Prepare to demonstrate your analytical prowess by discussing specific examples where your insights influenced underwriting decisions. Use data-driven stories to highlight your ability to leverage market trends and external datasets effectively.
✨Brush Up on Technical Skills
Since this role requires excellent IT skills, especially in Python, SQL, and Power BI, make sure you can talk about your proficiency in these areas. Consider preparing a mini-project or example that showcases your technical abilities and how they relate to pricing.
✨Communicate Effectively
You’ll need to explain complex actuarial concepts to non-actuarial audiences, so practice simplifying your language. Prepare a few key points that illustrate your ability to communicate effectively, as strong interpersonal skills are essential for this role.
