Actuarial Manager (Health Pricing)

Vitality; Poole; Hybrid; GBP 90,000 - 130,000; Full time

Benefits offered by this job

Bonus schemes

Pension up to 12% matched

Vitality health insurance

Life Assurance - 4x salary

Job summary

Vitality is seeking an Actuarial Manager for its Health Pricing team. You will own the modelling lifecycle, combining machine learning with actuarial methods to strengthen risk segmentation and drive pricing conclusions.

Lead projects, coach juniors, and collaborate with stakeholders to implement pricing changes with robust governance and documentation.

Qualifications

• Extensive experience in insurance pricing, preferably health or personal lines.
• Hands-on experience building GBMs (XGBoost/LightGBM) alongside GLMs.
• Proven ability to take pricing models from development through live rates.

Responsibilities

• Direct the development of sophisticated risk models for health pricing using ML and GLMs.
• Own the full modelling lifecycle from data design to live pricing implementation.
• Source and integrate external data to strengthen risk segmentation.
• Translate ML outputs into explainable, governable rating structures.
• Lead pricing projects and communicate findings to stakeholders.

Skills

Insurance pricing

Predictive modelling

Python

SQL

Machine learning

Tools

XGBoost

LightGBM

Job description

Team – Pricing

Working Pattern - Hybrid – 2 days per week in the Vitality London or Bournemouth Office. Full-time hours apply.

We are happy to discuss flexible working!

Top 3 skills needed for this role:

• Strong Insurance Pricing Expertise
• Advanced Predictive Modelling Capability
• Proven Python & SQL Expertise

What this role is all about

We’re looking for an Actuarial Manager to take a prominent role within our Health Pricing team, with responsibility for developing and advancing the risk models that underpin our singular and SME health insurance pricing. This is a senior technical role with ownership across the full modelling lifecycle, combining machine learning, actuarial modelling and external data to strengthen risk segmentation, shape pricing conclusions and take complex model developments through to live implementation. The role will also provide technical leadership across pricing projects, model governance and analyst-level work, influencing stakeholders and driving high-quality pricing outcomes.

What you'll be doing

• Direct the development of sophisticated risk models for individual and SME health insurance products, using machine learning techniques alongside traditional GLMs
• Own the full modelling lifecycle, from data and feature design through model development, support, sign-off and implementation into live pricing
• Be in charge of the sourcing, evaluation and integration of external data to strengthen risk segmentation and connect new pricing opportunities
• Research and test new rating factors, building robust statistical evidence and translating findings into clear recommendations for implementation
• Build, customise and enhance complex pricing models using Python and specialist pricing software, applying sound actuarial judgement to assumptions and methodology
• Translate machine learning outputs into practical, explainable and governable rating structures, working closely with Pricing Implementation to take changes live
• Own monitoring and governance across the model suite, maintaining comprehensive documentation, defining recalibration triggers and ensuring audit readiness
• Identify, prioritise and quantify material pricing risks and opportunities, applying commercial and technical judgement to complex business challenges
• Lead pricing projects and manage relationships across technical and business stakeholders, communicating complex findings clearly to support informed decision-making
• Review modelling work and provide technical coaching to strengthen modelling capability, quality and knowledge across the wider team

What do you need to thrive?

• Extensive experience within insurance pricing, ideally across health or personal lines general insurance
• Strong hands‑on experience building GBMs, including XGBoost or LightGBM, alongside GLMs for insurance risk
• Proven experience taking pricing models from development and validation through to live rates
• Strong Python capability for developing and enhancing complex pricing models
• Advanced SQL capability, including writing and editing complex queries to extract and process data
• Strong technical and analytical judgement, with the ability to structure and solve complex pricing problems
• Proven experience conducting pricing projects and delivering outcomes across multiple stakeholders
• Excellent written and verbal communication skills, with the ability to translate complex technical information for different audiences
• Fellowship of the Institute and Faculty of Actuaries or an equivalent actuarial qualification would be advantageous
• Experience with Radar, Earnix or Akur8, external pricing data or model interpretability techniques such as SHAP and partial dependence would be advantageous

So, what’s in it for you?

• Bonus Schemes – A bonus that regularly rewards you for your performance
• A pension of up to 12%– We will match your contributions up to 6% of your salary
• Our award‑winning Vitality health insurance – With its own set of rewards and benefits
• Life Assurance – Four times annual salary

These are just some of the many perks that we offer! To view the extensive range of benefits we offer, please visit our careers page. Fantastic Benefits. Exciting rewards. Great career opportunities!

If you are successful in your application and join us at Vitality, this is our promise to you, we will:

• Help you to be the healthiest you’ve ever been
• Create an environment that embraces you as you are and enables you to be your best self
• Give you flexibility on how, where and when you work
• Help you advance your career by playing you to your strengths
• Give you a voice to help our business grow and make Vitality a great place to be
• Give you the space to try, fail and learn
• Provide a healthy balance of challenge and support
• Recognise and reward you with a competitive salary and amazing benefits
• Be there for you when you need us
• Provide opportunities for you to be a force for good in society

We commit to all these things because we want you to feel that you belong, and are supported to be happy and healthy.