Actuarial Analyst - Pricing

AXIS Capital; City Of London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A global provider of specialty insurance in London is seeking an Actuarial Analyst. This role involves collaborating on pricing models, working closely with underwriters, and providing actuarial recommendations. Candidates should have 2-3 years' actuarial experience and a strong educational background. A comprehensive benefits package is offered, including health plans and retirement options.

Benefits

Medical plans

Health and wellness programs

Retirement plans

Tuition reimbursement

Paid annual leave

Qualifications

• 2-3 years’ experience in an actuarial role.
• Intention to qualify as a fellow of the Institute & Faculty of Actuaries.
• Strong track record of progress in actuarial examinations.

Responsibilities

• Collaborate with teams to upgrade pricing models.
• Work closely with underwriters on rating models.
• Monitor quality and accuracy of rate monitoring data.

Skills

Actuarial experience

Collaboration

Communication of technical concepts

Innovative thinking

Education

First class or 2:1 university degree

Tools

VBA

SQL

R

Python

Job description

Overview

This is your opportunity to join AXIS Capital – a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry.

At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.

All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.

Role

Actuarial Analyst - Pricing

Actuarial Pricing

London

Responsibilities

• Collaborate with the pricing systems development team and data & analytics teams to deliver on longer term goals relating to upgrading pricing models, databases, dataflows and analytical output
• Work closely with underwriters to scope, build, develop, document and maintain rating models and methods; training and support around best practice model use.
• Monitor the quality and accuracy of rate monitoring data produced by rating models and/or transactional case pricing. Quantify the technical adequacy of rates required to meet targeted returns on capital.
• Provide actuarial pricing recommendations regarding risk selection, contract structure, coverage and pricing for individual deals.
• Input into the business planning process for the AXIS Group and legal entities – primarily to determine gross loss ratio picks, but also to inform assumptions around the efficacy of, and recoverability from, different outwards reinsurance programme structures.
• Work alongside pricing team to further develop product monitoring and segmental review process within classes of business to objectively assess profitability; provide evidence-based conclusions and recommendations for strategic changes, underwriting actions and portfolio optimisation.
• Evaluate the impact of market conditions and rate change. Analyse the rating environment and market behaviour within key business lines.
• Maintain the feedback loop (control cycle) and provision of information and analysis between the pricing, reserving, capital modelling and business planning processes.
• You may also be required to take on additional duties, responsibilities and activities appropriate to the nature of this role.

About You

We encourage you to bring your own experience and expertise to the table, so while there are some qualifications and experiences, we need you to have, we are open to discussing how your individual knowledge might lend itself to fulfilling this role and help us achieve our goals.

What you need to have

• 2-3 years’ experience, ideally in an actuarial role; consultancy or company
• First class or 2:1 university degree
• Intention to qualify as a fellow of the Institute & Faculty of Actuaries or equivalent professional body; strong track record of progress in actuarial examinations to date.
• Keen collaborator able to build relationships
• Able to communicate technical concepts to a non-technical audience
• Growth mind-set with a desire to seek diverse thought, learn from others and share knowledge
• Proactive in challenging the status quo and developing innovative ideas

What we prefer you to have

• Knowledge of Specialty exposures, coverages and accumulation models
• General insurance, London Market and pricing backgrounds are highly desired, but not essential
• The ability to manipulate complex datasets using tools VBA, SQL, R, Python, or similar

Role Factors

In this role, you will typically be required to:

• Be in the office 3 days per week

What we offer

You will be eligible for a comprehensive and competitive benefits package which includes medical plans for you and your family, health and wellness programs, retirement plans, tuition reimbursement, paid annual leave, and much more.