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Actuarial pricing for the Cyber Risks Division and the Executive Risks classes (within the Specialty Risks Division) at Beazley
Job Responsibility:
Provide pricing support to the Cyber & Executive Risks underwriting teams at Beazley
Developing pricing tools that support the estimation of price adequacy and rate change
Performing portfolio and transactional pricing analyses
Performing segmental and trend analyses
Performance monitoring (e.g. rate change and price adequacy metrics)
Develop, maintain and review pricing models to the required standards
Contribute effectively to the production of the relevant reports required for any key committees where required
Provide training to underwriters in pricing
this includes technical pricing and rate change requirements
Understand and support the underwriting controls related to pricing and relevant regulatory principles
Understand and apply the pricing quality assurance process
Assist in other projects undertaken by the actuarial team e.g. liability transfer valuations and business planning analyses
Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
Build your technical pricing skills and experience
Provide support and mentoring to the junior members of the team
Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
Build and maintain constructive working arrangements with those groups identified as being key to your role
Work with the underwriters, exposure management, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of the data used for pricing
ensure the necessary data is captured from pricing tools to enhance future pricing capabilities
Maintain pricing model documentation with required frequency, obtaining the appropriate managerial sign-offs
Identify opportunities and contribute to delivering improvements in the pricing processes and methodologies
Undertake professional, technical and career development training (delivered internally and externally)
this includes pursuing the actuarial qualification where applicable
Requirements:
Actuarial qualification
Pricing experience
with specialty (re)-insurance market knowledge desirable
Firm grasp of actuarial / statistical techniques used in pricing
Understanding of reinsurance and capital with application to pricing
University degree in Mathematics or related field
General commercial and financial knowledge
Competent user of MS Excel
VBA, Access, Python, SQL and R skills desirable
Strong analytical skills with attention to detail
accurate and numerate
Able to communicate effectively both verbally and in writing
Team worker as well as able to work on own initiative
Ability to manage time, meet deadlines and prioritise
Outcome focused, self-motivated, flexible and enthusiastic
Professional approach to successfully interact with team members, internal and external stakeholders
Nice to have:
VBA
Access
Python
SQL
R
specialty (re)-insurance market knowledge
What we offer:
Attractive base compensation and discretionary performance related annual bonus
Private medical insurance coverage for both you and your dependents
Company paid life assurance and long term disability insurance
Pension with 10% employer contribution, plus a further matched contribution up to 2.5%
25 days of annual leave (prorated for 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your religious beliefs, subject to approval
Additional annual leave purchase is also available up to a maximum of five additional days per year
Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long term care need annually
Up to £550 reimbursement towards home office setup
Free in-office lunch and monthly lifestyle allowance
Monthly travel allowance or annual season ticket
The opportunity to save for, and purchase, shares of Beazley stock
Six months fully paid parental leave, regardless of how you come to parenthood
Company paid sabbatical up to 12 weeks after 10 years of continued service
Support with exam/study leave and fees for relevant qualifications related to furthering education