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- Tasks: Lead pricing strategies and collaborate with underwriting teams to enhance pricing models.
- Company: Dynamic insurance firm in London with a focus on innovation and teamwork.
- Benefits: Competitive salary, professional development, and opportunities for career advancement.
- Other info: Supportive environment with opportunities to mentor junior team members.
- 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.
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 be reporting 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. The right candidate should be able to work independently, manage their own time and that of the pricing & portfolio management team, and communicate well with all business functions. They should also be able to train junior team members and their direct reports. They should have a commercial focus which will benefit the company.
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 in line with best in class principles.
- Integrate key systems with the pricing platforms to leverage data and functionality.
- Ensuring models and processes are aligned with both Lloyd’s principles at the required maturity and the Lancashire view of pricing best practice.
- Update parameters for pricing models, using Lancashire and benchmark data.
- Conduct annual model reviews in accordance with the Pricing Policy.
- Upkeep of 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 appropriate 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. This includes reserving, capital modelling, catastrophe exposure analytics and validation.
- To 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 of building, maintaining and enhancing pricing models.
- Experience of 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 enable the results of actuarial analysis and of actuarial methods to be communicated to a non-actuarial audience.
- Problem solving skills and project management skills.
- Excellent interpersonal skills, as there will be a high level of communication.
- Good attention to detail.
- Able to work well under pressure and time manage.
Pricing Actuary employer: The Lancashire Group
Contact Detail:
The Lancashire Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Actuary
✨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 land that dream job.
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your experience with pricing models and your analytical skills. We want to see how you can bring value to their team, so share specific examples of your past successes and how you’ve tackled challenges in your previous roles.
✨Prepare for Interviews
Do your homework before any interview! Research the company, understand their pricing strategies, and be ready to discuss how your background fits into their needs. We recommend practising common interview questions and preparing some insightful questions of your own to show your interest.
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who take the initiative to engage directly with us. So, go ahead and submit your application today!
We think you need these skills to ace Pricing Actuary
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Pricing Actuary role. Highlight your experience in pricing for commercial and specialty lines, and don’t forget to showcase your skills in building and maintaining pricing models. We want to see how your background aligns with what we’re looking for!
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 role. Mention your experience in the Lloyd’s or London Market and how you can contribute to our team. Remember, we love a good story, so make it engaging!
Show Off Your Technical Skills: We’re looking for someone with strong IT skills, so don’t hold back! List your proficiency in Python, MS Excel, SQL, and any other relevant tools. If you’ve worked with pricing platforms like hx:Renew, make sure to mention that too. We want to know what you bring to the table!
Apply Through Our Website: Ready to take the plunge? Make sure to apply through our website for the best chance of getting noticed. It’s the easiest way for us to keep track of your application and ensures you’re considered for the role. We can’t wait to hear from you!
How to prepare for a job interview at The Lancashire Group
✨Know Your Pricing Models
Make sure you brush up on your knowledge of pricing models, especially those relevant to commercial and specialty lines. Be ready to discuss how you've built, maintained, or enhanced these models in your previous roles.
✨Showcase Your Communication Skills
Since this role involves a lot of interaction with underwriters and other business functions, practice articulating complex actuarial concepts in simple terms. Prepare examples of how you've successfully communicated insights to non-actuarial audiences.
✨Demonstrate Your Analytical Prowess
Be prepared to discuss specific instances where your analytical skills made a significant impact on pricing decisions. Use data-driven examples to illustrate how you've leveraged market trends and external datasets in your previous work.
✨Highlight Your Leadership Experience
As you'll be managing junior team members, think of examples that showcase your ability to train and mentor others. Discuss how you've managed workloads and provided support to your team in past roles.