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 pricing strategies while working with cutting-edge technology.
- 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 relationship 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.
- Any other ad‑hoc reporting requirements.
- 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 adheres 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.
Locations: Level 6, London, United Kingdom, EC2N 4BQ, GB
Pricing Actuary 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.
