At a Glance
- Tasks: Join our team to develop and maintain innovative pricing tools for the insurance industry.
- Company: Dynamic insurance company focused on data-driven solutions and collaboration.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Other info: Exciting projects and a supportive team environment await you!
- Why this job: Make a real impact in the insurance sector while honing your analytical skills.
- Qualifications: Bachelor's degree in a relevant field; programming skills in Python or R are a plus.
The predicted salary is between 60000 - 80000 £ per year.
The job holder will be a key member of the SBS & Cedant Facultative P&C Pricing and Modelling team supporting business written by SCOR (including SCOR Syndicate), focusing on Property, Construction and Specialty lines of business. The work includes pricing of key individual accounts, working with Underwriters, developing and maintaining pricing models, conducting pricing related analyses and any other ad‑hoc reporting requirements. The job holder will also represent SBS Pricing & Modelling Team in any ongoing and future global projects.
Responsibilities
- Develop, test, and maintain pricing tools.
- Develop and enhance direct & facultative pricing tools and methodology in conjunction with Underwriters, Underwriting Management, CTO and the Specialty Insurance Methods and Tools team.
- Ensure pricing models are appropriately calibrated and used appropriately by Underwriters, including rate change calculation.
- Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis).
- Be a contributor to the long term objective of the Pricing Team by helping to implement a more innovative and data driven approach to their pricing processes with pricing model development on two web‑based platforms: Underwriting Platform (UP) and Renew.
- Actively build relationships with Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.
- Support senior members of the Team in the provision and delivery of analytics relating to modelled and non‑modelled CAT.
- Assist with processing of pre/post bind analyses and maintenance of a reliable and accurate exposure dataset.
- Entering/uploading/modelling of exposure information in catastrophe modelling software (RMS RiskLink).
- Regular portfolio roll‑up and probabilistic analysis in RMS RiskLink.
- Development and maintenance of dashboards and various management information.
- Contribute to various regulatory tasks such as the Lloyd’s Performance Management Data Return (PMDR).
- Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long‑term profitability targets.
- Provide actuarial consulting during exploration of new projects.
- Assist with on‑going underwriting projects (developing pricing requirements, systems testing, etc.) or any other ad‑hoc projects.
- Analyse and pricing of individual accounts typically with complex features or high premium in UP or Xact.
- Conduct pricing reviews on accounts with high and extreme materiality to ensure that all accounts priced adhere to appropriate pricing review process as defined in SBS Pricing Guidelines and Cedant Facultative Pricing Guidelines.
Qualifications
- First working experience in an Exposure Management or Cat Modelling team is a plus.
- Knowledge of Microsoft Office (Proficiency in Excel). SQL, GIS and Programming skills ideally in R or Python is a plus.
- Strong analytical skills. Pro‑active, hands‑on mentality and can‑do attitude. Self‑starter and solution oriented. Flexible, can adapt according to priorities.
- Expertise in digital technology and Data Engineering.
- Clear communicator, able to structure an argument and ability to explain complex issues in a simple way.
- Team player, interested in sharing knowledge and helping to develop the team.
- Skills in data science, predictive modelling & analytics, machine learning, AI.
- Knowledge of RMS RiskLink/RiskModeller and/or AIR Touchstone user interface platforms is a plus.
- Good understanding of the underwriting process, commercial considerations and policy terms and conditions.
Required Education
- Minimum of a bachelor’s degree in mathematics, actuarial science, other scientific discipline (statistics, physics, natural science), economics or finance. An advanced degree (master’s or PhD) would be a plus.
Location: Level 6, London, United Kingdom, EC2N 4BQ, GB
Pricing Actuary in London employer: SCOR
SCOR is an exceptional employer, offering a vibrant and inclusive work culture that fosters collaboration and innovation within its dynamic actuarial team. As an intern in the heart of the Lloyd's of London insurance market, you will gain hands-on experience with cutting-edge modelling tools while working alongside industry experts, ensuring ample opportunities for personal and professional growth. With a commitment to diversity and employee well-being, SCOR not only values your contributions but also supports your development in a meaningful and rewarding environment.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Actuary in London
✨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 SCOR). 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 SCOR. 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 Actuary in London
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 SCOR.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at SCOR. 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 SCOR
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at SCOR 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 SCOR, 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 SCOR'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.
