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- Tasks: Support the UK Pricing team with data analysis and actuarial modelling for insurance contracts.
- Company: Sompo is a global leader in insurance and reinsurance, committed to integrity and excellence.
- Benefits: Enjoy flexible working, health benefits, and generous retirement plans.
- Why this job: Gain hands-on experience in a dynamic environment while collaborating with industry experts.
- Qualifications: A degree in Actuarial Science or related field; strong analytical skills are essential.
- Other info: Join a diverse team that values inclusion and fosters career growth.
The predicted salary is between 28800 - 43200 £ per year.
Join to apply for the Actuarial Analyst role at Sompo
Join to apply for the Actuarial Analyst role at Sompo
As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Job Description
Are you looking for your next opportunity?
Sompo is seeking an exceptionally capable, motivated and analytical university graduate to join our UK Pricing team to support our London Wholesale and Specialty business. You will have the opportunity to gain hands-on experience and contribute to real projects and initiatives within our company. The role will offer exposure to a dynamic work environment and the chance to work alongside experienced professionals in the field.
Our UK Insurance Pricing team offers Actuarial support to the Wholesale and Specialty Underwriters. We work closely with the underwriters to determine the support required to achieve their strategies for growing the business profitably throughout the market cycle. The Wholesale and Specialty lines of business for Sompo is a well-established mature portfolio that is a core part of our UK business. We work alongside our colleagues across the Sompo group to enhance our understanding of market practice and to enact best practice in a pricing role.
Location: The UK Pricing team is based in London and this position will be based out of our London office. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long lasting careers.
Our Business, Your Impact, Our Opportunity
What you’ll be doing:
- Assist in data collection, analysis and validation for actuarial modelling and calculations.
- Use and develop tools for the monitoring and reporting of rate change and rate adequacy.
- Collaborate with cross-functional teams to understand business objectives and provide actuarial insights.
- Pricing of complex contracts across a wide variety of classes, ensuring close collaboration with the underwriters, providing clear explanation of technical Actuarial modelling techniques alongside the results.
- Support in developing pricing models for new areas of business written by the Underwriting team and update the pricing models through reparameterisation exercises and structural modifications where necessary.
- Apply actuarial pricing techniques to individual account analysis and portfolio analyses and prepare presentations and quantitative exhibits for management and underwriters that convey insight and key outcomes.
- Contribute to the business planning process, working with the lead Pricing Actuary for the class of business and the underwriters to articulate business plans and the rationale that underpins them.
- Assist in identifying and assessing strategic growth opportunities by working alongside the underwriting team to better understand the current portfolio against the market portfolio.
- Completion of risk audits to ensure the pricing models are being completed appropriately by the underwriters and that the modelled results are reasonable, taking action to resolve any deficiencies.
- Research into industry developments and trends that could impact Sompo.
- Other ad hoc duties as required.
What You’ll Bring
- A Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, or a related field.
- An interest in and some basic knowledge of the commercial insurance industry or ideally some relevant work experience in the field, although the ability to learn quickly and think critically and commercially is more important.
- Must be self-motivated and able to think and operate independently within a fast-paced, multi-tasked, global organisation.
- Strong analytical and quantitative skills in Excel, SQL or other relevant tools and strong IT skills in areas such as R and Python are an advantage.
- Excellent organisational skills and the ability to prioritise multiple tasks, projects, and assignments.
- Dynamic/flexible demeanour with strong client service skills.
- Strong interpersonal skills and the ability to effectively interact with colleagues at all levels.
Our Benefits
We continuously evaluate and update our benefit programs to ensure that our plans meet the needs of our employees and their dependents. Below are a few highlights of our inclusive benefit programs:
- Expansive Health & Wellness Benefits
- Generous Retirement & Savings Plans
- Global Parental Leave & Adoption Assistance
In today’s world, what do we stand for?
We strive to create exceptional value for our clients and shareholders while maintaining Sompo as an attractive place to work. We foster an environment of ongoing, open dialogue between managers and their direct reports, and believe in an organizational environment where everyone belongs. We proudly are a multi-racial, multi-cultural, global enterprise. We reject all forms of racism, bigotry, prejudice and injustice and continue to invest in building out an inclusive and diverse work environment.
About Us
Expert Partners.
Clarity in complexity.
Unwavering commitment.
We’re Sompo, a global provider of property, casualty, and specialty insurance and reinsurance. Building on Sompo Holdings’ 130 years of innovation, we’re committed to applying all of our experience to simplify yours.
Our dedication to you shows up in the care we put in every detail, working to create a frictionless risk management journey for everyone we serve.
We lead with your priorities, meticulously crafting solutions, sharing insights, and understanding your needs.
Around the world, our 9,000+ employees use their expertise to learn, improve and find clear answers for your complex challenges.
Because when you choose Sompo, you choose the ease of expertise.
To learn more about visit our website at www.sompo-intl.com
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Actuarial Analyst employer: Sompo
Contact Detail:
Sompo Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Actuarial Analyst
✨Tip Number 1
Familiarise yourself with the insurance and reinsurance industry, especially focusing on the commercial aspects. Understanding market trends and how they impact pricing will give you an edge in discussions during interviews.
✨Tip Number 2
Brush up on your analytical skills, particularly in Excel, SQL, R, or Python. Being able to demonstrate your proficiency in these tools can set you apart, as they are crucial for the role of an Actuarial Analyst.
✨Tip Number 3
Network with professionals in the actuarial field, especially those working in pricing roles. Engaging with them can provide insights into the day-to-day responsibilities and expectations at Sompo, which can be invaluable during your application process.
✨Tip Number 4
Prepare to discuss your problem-solving abilities and how you've applied them in past experiences. The ability to think critically and adapt quickly is essential in a fast-paced environment like Sompo, so be ready to share relevant examples.
We think you need these skills to ace Actuarial Analyst
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly read the job description for the Actuarial Analyst position at Sompo. Understand the key responsibilities and required skills, such as data analysis, actuarial modelling, and collaboration with underwriters.
Tailor Your CV: Customise your CV to highlight relevant experience and skills that align with the job requirements. Emphasise your analytical abilities, proficiency in Excel, SQL, R, or Python, and any previous experience in the insurance industry.
Craft a Compelling Cover Letter: Write a cover letter that showcases your motivation for applying to Sompo and your understanding of the actuarial field. Mention specific projects or experiences that demonstrate your analytical skills and ability to work in a team.
Proofread Your Application: Before submitting your application, carefully proofread all documents for spelling and grammatical errors. A polished application reflects attention to detail, which is crucial in the actuarial profession.
How to prepare for a job interview at Sompo
✨Understand the Role
Before your interview, make sure you thoroughly understand the responsibilities of an Actuarial Analyst at Sompo. Familiarise yourself with actuarial modelling, data analysis, and the specific tools mentioned in the job description, such as Excel, SQL, R, and Python.
✨Showcase Your Analytical Skills
Prepare to discuss examples from your academic or work experience that demonstrate your analytical and quantitative skills. Be ready to explain how you've used these skills in practical situations, especially in relation to data collection and analysis.
✨Demonstrate Collaboration
Since the role involves working closely with underwriters and cross-functional teams, be prepared to share experiences where you've successfully collaborated with others. Highlight your interpersonal skills and ability to communicate complex ideas clearly.
✨Research Sompo's Values
Familiarise yourself with Sompo's core values of integrity, collaboration, agility, execution, and excellence. Be ready to discuss how your personal values align with theirs and how you can contribute to their culture during the interview.
