London Market Pricing Actuarial Consultant

Willis Towers Watson; London; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking an experienced London Market Pricing Associate Director to enhance pricing advisory capabilities. In this dynamic role, you will lead project teams, optimize pricing strategies, and develop innovative models for reinsurance pricing. Collaborating with top thought leaders, you'll design cutting-edge solutions that address underwriting challenges faced by leading commercial insurers. This position offers the opportunity to build a market profile while mentoring junior associates and contributing to the company's intellectual capital. If you are passionate about pricing strategies and have a knack for analytical innovation, this role is perfect for you.

Qualifications

• Experience in London Market pricing or reinsurance pricing roles.
• Strong analytical skills and ability to mentor junior staff.

Responsibilities

• Lead project teams to optimize London Market pricing strategies.
• Develop reinsurance pricing models and deliver client projects.

Skills

London Market pricing

Reinsurance pricing

Analytical approaches

Data manipulation (SAS, SQL, WPS)

Machine learning techniques

Strong communication skills

Interpersonal skills

Self-starter attitude

Mentoring junior staff

Innovation and creativity

Education

Actuarial qualification (FIA/FFA or equivalent)

Tools

SAS

SQL

WPS

Job description

Description

We are looking for an experienced pricing practitioner, with essential experience in the London Market (including case pricing) or Reinsurance Pricing to join WTW as a London Market Pricing Associate Director. You will join our general insurance practice within the wider UK Insurance Consulting and Technology (“ICT”) line of business to help us develop our pricing advisory capability and work with some of the market’s top thought leaders designing and implementing cutting-edge solutions to pricing and underwriting challenges faced by the world’s leading commercial insurers.

In your role you will be helping our clients by:

• Leading a project team to deliver client projects
• Optimising their London Market pricing strategies and approaches
• Developing reinsurance pricing models and providing reinsurance case pricing support
• Delivering pricing and underwriting capability reviews and pricing transformation engagements
• Helping to build effective London Market pricing models, tools and processes
• Designing sophisticated MI and portfolio management capabilities
• Leveraging your market knowledge in developing cutting edge solutions for London Market pricing in collaboration with various teams from across WTW
• Bringing innovative data enrichment ideas to harness pricing insights and providing support with their implementation.

Clients

• To build a market profile as a representative and advocate of WTW London Market pricing consulting services and software tools
• Develop a trusted advisor relationship with client contacts through effective communication and efficient, quality execution of projects
• Actively seek to be involved in a variety of work to ensure a broad skill set (technical, management and client) is maintained and developed
• Interface with colleagues from other practices and regions on assignments that reflect the client’s broader business issues
• Demonstrate commitment to WTW’s professional standards in managing analyses and in communications with clients

Thought leadership

• To develop new relevant propositions or to enhance current propositions in London Market pricing leveraging WTW’s toolset and broader pricing intellectual property and resources
• Lead or contribute to the development of the company’s intellectual capital including plans for taking this to market
• Have a desire to establish and enhance a public reputation in a chosen specialism through the production of articles and presentations

Financial and business development

• Meet goals for billable hours and intellectual capital development
• Develop and present proposals to potential clients, demonstrating the economic value of the company’s offerings
• Use contacts within current network to obtain introductions to new contacts; work to develop supporters for company’s products and services

People

• Build relationships internally and collaborate effectively on cross-functional teams
• Serve as a manager and mentor to more junior associates training them on the specificities of the London Market, including processes, systems and market operations.

Qualifications

The Requirements

• Relevant demonstrable experience in a London Market pricing or reinsurance pricing role in a specialty insurance or reinsurance firm or consultancy advising London Market clients on pricing and underwriting, maybe a nearly or newly qualified actuary (FIA/FFA or equivalent)
• Prior experience of building exposure, experience and stochastic models including fluency of using first loss curves and increased limit factors.
• Reinsurance pricing experience, building and running models, including case Reinsurance pricing support is an advantage.
• An advocate for the development of analytical approaches and the adoption of new techniques
• Advocate for the value of data enrichment in commercial lines pricing and underwriting
• Exposure to machine learning or big data techniques beneficial
• Solid experience with data manipulation packages (SAS, SQL, WPS, etc.)
• Experience or interest in selling projects to insurance / financial institutions
• A track record in innovation and creativity delivering realised revenue enhancements
• Strong communication skills
• Strong interpersonal and team skills
• Self-starter attitude and ability to work within ambiguity
• Strong analytical and creative skills
• Enjoy training / mentoring junior staff
• The ability to see the "big picture”, leveraging the resources of related practices to address the clients' business challenges
• Availability to travel on an as needed basis, domestically and internationally

Equal Opportunity Employer

At WTW, we believe difference makes us stronger. We want our workforce to reflect the different and varied markets we operate in and to build a culture of inclusivity that makes colleagues feel welcome, valued and empowered to bring their whole selves to work every day. We are an equal opportunity employer committed to fostering an inclusive work environment throughout our organisation. We embrace all types of diversity.