FTC Model Development Actuary

AXA UK; London; On-site; GBP 55,000 - 75,000; Full time

Job summary

A leading insurance group is seeking a Pricing Actuary in London to develop and support pricing models. The successful candidate will engage with underwriting teams and contribute innovative ideas while ensuring adherence to best practices. This role requires excellent pricing skills, strong IT competence, and a dedicated work ethic, making it pivotal for underwriting support and model development.

Qualifications

• General insurance pricing experience is essential.
• Model development experience required.
• FIA qualification desirable.

Responsibilities

• Model development to adhere to best practices.
• Support account pricing & underwriter agreement.
• Participate in portfolio monitoring and analysis.

Skills

Attention to detail

Self-motivated

Hard working

Ability to plan and organize work

Collaboration

Education

2.1 or 1st degree in Maths or a Maths-related subject

3 or more strong 'A' levels, including Maths

Tools

Excel

VBA

PowerBI

R

Python

SQL

Job description

Job summary

The Pricing Actuary will be responsible for completing development of upgraded Excel based pricing models ready for delivery to third party Rulebook developers. This is expected to include Marine PI, Political Violence and Energy Package models, with potential further development required on other models as required. The role will include interaction with underwriting teams to ensure that the proposed models are fully tested and agreed.

The Pricing Actuary will also provide support for BAU work as required, including account pricing, benchmark rate reviews and portfolio analyses.

The successful applicant will have strong technical pricing skills. The Pricing Actuary will have strong communication skills and commercial awareness in order to provide effective underwriter support.

The Pricing Actuary will be located within the Actuarial pricing team in London and work directly with the underwriting team under the guidance of the Insurance Pricing Manager.

Main duties

• Model development, ensuring adherence to standardised best practice
• Support to ensure underwriter agreement and testing
• Contributing ideas for new MI
• Model recalibration reviews
• Account pricing and underwriter support for broker negotiations
• Portfolio monitoring for accounts and overall portfolio
• Keep abreast of industry initiatives and develop new pricing/visualisation techniques and best practice where opportunities arise
• Collaborate, present and share knowledge with the wider Actuarial team
• Assistance for other pricing team activities as required

Our requirements

Relevant experience

Essential

General insurance pricing experience

Model development experience

Desirable

Experience of Marine / Energy / PV classes of business

Technical skills

Essential

Strong IT skills, including comprehensive knowledge of Excel and VBA

Desirable

R or Python

SQL

Experience in building and using dashboards in PowerBI

Education & Experience

Essential

2.1 or 1st degree in Maths or a Maths-related subject (e.g. Physics, Engineering, Statistics)

3 or more strong ‘A’ levels, including Maths

Desirable

FIA qualified

Personal skills

• Attention to detail
• Self-motivated
• Hard working and committed
• Professionally presented
• Organised and clear thinking
• Flexible and adaptable
• Ability to plan, organise work and multitask to meet targets and deadlines
• Able to collaborate, work as a team and communicate with staff at all levels

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.

Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation).

A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.

We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.