At a Glance
- Tasks: Develop and maintain pricing algorithms while collaborating with underwriters and the actuarial team.
- Company: Join a leading insurance company known for innovation and collaboration.
- Benefits: Enjoy competitive salary, private medical insurance, generous holiday entitlement, and wellness programmes.
- Other info: Flexible hybrid work options available, fostering a supportive and inclusive workplace.
- Why this job: Make an impact in a dynamic role that combines analytics and teamwork in the insurance industry.
- Qualifications: Bachelor's degree in a STEM field and experience in quantitative analysis required.
The predicted salary is between 49500 - 60500 £ per year.
We are seeking a Senior Assistant Pricing Actuary to be based in London, Redhill, or Dublin office.
The ideal candidate will have some prior working experience within an pricing actuarial role and be either part-qualified, nearly qualified or newly qualified.
This is an analytic role with responsibility for exposure-based pricing models in Travelers Europe.
The individual in this role is expected to be an influential member of a team of people who support pricing models, pricing data and pricing analysis in the actuarial department.
Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy.
This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees).
This policy may be changed at the Company's discretion.
What Will You Do? Operational
- Maintain and develop pricing algorithms for Travelers Europe
- Implement those algorithms in the Hyperexponential (HX production system)
- Liaise with underwriters to support use of pricing models
- Run processes for batch rating portfolios of business in Python
- Expand batch rater (and associated standard pricing dataset) to work for more products across Travelers Europe
- Run processes for calibrating base rates
- Prepare data and analysis for actuarial rating validation exercises for specific products
- Contribute to analysis of pricing model data
- Assist with other roles (e. g. case pricing, business planning, reinsurance purchase) carried out by the Travelers Europe pricing team.
Communication
- Communicates analysis, project results, and other business initiatives to peers and business partners.
- Communicates technical topics to non-technical audience within the primary working group with guidance from manager.
- Actively participates and may lead group discussions at the unit level.
- Creates formal written communication such as memos or presentations with guidance and peer review.
- Networks and collaborates on ideas and challenges.
- Perform other duties as assigned., Proactively build and own professional business relationships across the BI&AA community across the Enterprise.
- Generate and solicit ideas, and begin to build consensus with guidance.
- Aware of potential conflict and begins to addresses with guidance.
- Begin to set and manage expectations with business partners for small projects.
Quantitative Analysis
- Evaluate and use appropriate data, tools and methods.
- Able to perform analytics independently, can effectively plan next steps within analyses with little oversight.
- May perform technical review of team work product.
- Able to contribute on more complex analytical work with guidance.
Benefits
- Private
- Medical
Insurance: On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction.
- Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan.
Additionally, if you decide to contribute to the plan, you will receive an increased company contribution.
- Holiday
Entitlement: Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year.
- Wellness
Programme: The Travelers wellness programme is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs.
In addition, our mental health programme provides access to free professional counseling services and other resources that support your daily life needs.
- Volunteer
Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved.
Travelers has a Matching Gift and Volunteer Rewards programme that enables you to give back to the charity of your choice.
Employment Practices
Travelers is an equal opportunity employer.
We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email so we may assist you.
Travelers reserves the right to fill this position at a level above or below the level included in this posting.
Qualifications
- Associate Actuarial Credential.
- University degree in STEM related field.
- Strong PC skills (MS Office) and programming skills (eg.
- SQL, SAS).
- Strong understanding of insurance products and industry.
- Demonstrable ability in actuarial and quantitative analysis and statistical concepts.
- Leadership
- Take ownership of assigned projects and meetings, make recommendations and presents results to business partners.
- Proficient in Leading Self, exhibiting self-awareness while also effectively managing ambiguity.
- Initial development of Leading Others, including mentoring/training team members.
- Initial development of Leading the Business, including actively supporting business goals and being a positive member of the Enterprise culture.
- Business Acumen
- Has an in-depth understanding and knowledge of a few basic business drivers and disciplines such as: underwriting, products, reinsurance, distribution, sales, operations, risk control, claim, and financials.
- Able to effectively utilise this business knowledge in developing analytic solutions.
- Has a foundational perspective of the primary industry and developing trends such as: technology, analytic methodology, products and performance of competitors.
- Is familiar with a couple other key business drivers and disciplines.
What is a Must Have?
- Bachelor's Degree or equivalent experience.
- Demonstrable experience in quantitative analysis.
- Company Promise
Taking care of our customers, our communities and each other.
That's the Travelers Promise.
By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years.
Join us to discover a culture that is rooted in innovation and thrives on collaboration.
Imagine loving what you do and where you do it.
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Senior Assistant Pricing Actuary in City of Westminster employer: The Travelers
The Travelers is an exceptional employer, offering a dynamic work environment in the heart of London where innovation meets tradition. With a strong focus on employee development and a commitment to work-life balance through hybrid arrangements, we empower our team to excel in their careers while enjoying a supportive culture that values collaboration and professional growth. Join us to be part of a leading company in the insurance sector, where your contributions directly impact our success and the industry at large.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Assistant Pricing Actuary in City of Westminster
✨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 The Travelers). 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 The Travelers. 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 Senior Assistant Pricing Actuary in City of Westminster
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 The Travelers.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at The Travelers. 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 The Travelers
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at The Travelers 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 The Travelers, 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 The Travelers'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.
