At a Glance
- Tasks: Develop and enhance pricing models while collaborating with underwriters and actuarial specialists.
- Company: Join Markel, a global leader in insurance and reinsurance with a vibrant culture.
- Benefits: Enjoy a competitive salary, annual bonus, and extensive benefits package including private medical cover.
- Other info: Opportunities for career growth and learning in a dynamic, supportive environment.
- Why this job: Make a real impact on underwriting decisions and drive innovation in pricing solutions.
- Qualifications: Experience in pricing models and strong analytical skills; coding knowledge is a plus.
The predicted salary is between 59400 - 72600 £ per year.
Looking for an opportunity to combine pricing, analytics, technology and business engagement while helping shape the future of underwriting? We're seeking a Pricing Transformation Actuary to support the development and enhancement of pricing models across Markel International, working closely with underwriters and actuarial specialists to deliver innovative pricing solutions that drive better business decisions.
What part will you play? If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers. We’re always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs. Join us and play your part in something special!
The opportunity:
The International Portfolio Analytics (IPA) team partners with underwriters across Markel International, bringing together expertise in Pricing Transformation, Portfolio Management, Catastrophe & Exposure Management, Data Analytics & Insights, and AI Enablement. We develop innovative pricing capabilities, data-driven solutions and technology that help strengthen underwriting decisions and business performance. Working closely with teams across Underwriting, IT, Change & Delivery and Analytics, we're driving the adoption of modern tools and platforms, including Hyperexponential (HX), to support Markel's future growth.
As a Pricing Transformation Actuary, you'll help develop, improve and sustain pricing models that support underwriting decisions across Markel International. Working alongside underwriters, actuarial colleagues and pricing change experts, you'll deliver practical solutions that improve performance and operational efficiency. This is a hands-on role offering exposure to pricing, analytics, technology and business engagement, with the opportunity to take increasing ownership of key models and transformation initiatives as your experience grows.
What you’ll be doing:
- Develop, deliver and maintain pricing frameworks that assist underwriting and portfolio decision making.
- Work closely with business partner actuaries and underwriting to understand pricing challenges and translate requirements into practical solutions.
- Take ownership for specific pricing models, model enhancements or components of the Pricing Transformation roadmap.
- Develop and improve pricing models on the Hyperexponential (HX) platform, supported by Excel, analytical tooling and appropriate technologies.
- Analyse pricing data and develop model analytics that evaluate model performance, identify areas for improvement and support calibration activities.
- Support calibration, testing, validation, documentation and ongoing enhancement of pricing models.
- Collaborate with Portfolio Management, DAI, the AI Centre of Enablement, Change & Delivery and IT to support integrated business solutions.
- Find opportunities to improve pricing capabilities, operational practices and underwriting outcomes through better use of data, analytics and technology.
- Use AI-enabled tools and modern ways of working to improve productivity, insight generation and delivery effectiveness.
- Provide knowledge sharing, best practice development and the support of graduates and junior colleagues where appropriate.
Our must-haves:
- Experience developing, enhancing or supporting pricing models, ideally in insurance pricing or a related analytical subject area.
- Strong analytical and problem-solving skills, with the ability to work with pricing data and draw practical conclusions.
- Proficient in at least 1 coding language with transferable skills to pick up Python, experience using code to go beyond basic Excel capabilities in working context or personal projects.
- Ability to engage effectively with underwriters and business partners, understanding their priorities and translating them into practical model improvements.
- Clear communication skills, including proficiency in explaining technical concepts in plain language.
- Curiosity, ownership and a growth mindset, with the desire to develop breadth across pricing, analytics, technology and transformation.
- Capable of collaborating effectively with senior Pricing Transformation specialists, actuaries and technical colleagues.
Desirable:
- Familiarity with Hyperexponential (HX) or similar pricing platforms.
- Exposure to actuarial work or study is helpful where it demonstrates insurance knowledge. No specific level of actuarial exam passes are required.
- Coding literacy or experience with analytical technologies. Python skills can be learned on the job so prior knowledge to accelerate adoption are preferred but not required.
- Experience working with coders, developers or technical specialists to deliver analytical or technology-enabled solutions.
- Experience supporting transformation, operational improvement or technology-enabled change initiatives.
- Interest in AI, automation and modern analytical tooling.
Who we are:
Markel Group (NYSE – MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.
What’s in it for you?
- A great starting salary plus annual bonus & strong benefits package.
- 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave.
- Fantastic company pension scheme, private medical and dental cover, life assurance, travel insurance cover, income protection, season ticket loan as well as other great benefits on offer.
- There are countless opportunities to learn new skills and develop in your career and we can provide the support needed to do just that!
Are you ready to play your part? Choose ‘Apply Now’ to fill out our short application, so that we can find out more about you.
Markel celebrates the value of a diverse workforce that brings experience and expertise from a wide variety of backgrounds and life circumstances. Whatever your background, if you feel you meet the requirements of this role then we want to hear from you. We are also happy to consider candidates who are looking for flexible working patterns.
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status.
We will ensure that individuals with disabilities are provided with all reasonable accommodations to be able to participate in the job application or interview process and to perform essential job functions if successful. Please contact us via email at rec@markel.com or call us at 0161 507 5827 to request any accommodations that may be needed. This includes any alternative formats of any documents or information on how to apply offline.
Pricing Transformation Actuary employer: Markel Corporation
Markel Law is an exceptional employer, offering a dynamic and collaborative work environment in the heart of Manchester. As a partner-level lawyer, you will benefit from competitive remuneration, annual bonuses, and ample opportunities for professional growth while leading a dedicated team in high-value real estate transactions. Our commitment to fostering strong client relationships and quality documentation ensures that you will find meaningful and rewarding work here.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Transformation Actuary
✨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 Markel Corporation). 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 Markel Corporation. 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 Pricing Transformation Actuary
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 Markel Corporation.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Markel Corporation. 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 Markel Corporation
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Markel Corporation 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 Markel Corporation, 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 Markel Corporation'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.
