Pricing Actuary

Beazley; City of Westminster; Hybrid; GBP 50,000 - 70,000; Full time

Job summary

A leading global insurer is seeking a Pricing Actuary to support underwriting teams through pricing analyses and the development of pricing tools. The ideal candidate will have a degree in Mathematics and expertise in analytical skills, alongside proficiency in Excel and statistical techniques. This position offers competitive compensation, flexible working hours, and various benefits, including private medical insurance and parental leave. Candidates who meet the minimum qualifications are encouraged to apply for this diverse and inclusive workplace.

Benefits

Competitive base compensation

Private medical insurance

Company-paid life assurance

Pension with employer contribution

25 days annual leave

Home office reimbursement

Flexible working culture

Qualifications

• Pricing experience, preferably in Lloyd’s or the London market.
• Ability to manage and prioritize tasks effectively.
• Solid understanding of actuarial techniques and practices.

Responsibilities

• Provide pricing and analytics support to underwriting teams.
• Develop pricing tools and perform analyses.
• Produce reports required by the Underwriting Committee.

Skills

General commercial and financial knowledge

Competent user of MS Excel

Analytical skills with attention to detail

Effective communication

Teamwork

Time management

Education

University degree in Mathematics or related field

Tools

MS Excel

VBA

SQL

R

Job description

Join to apply for the Pricing Actuary role at Beazley. This position supports the underwriting teams with pricing and analytics, develops pricing tools, conducts portfolio and transactional pricing analyses, and ensures pricing quality and regulatory compliance.

Key Responsibilities

• Provide pricing and analytics support to the various underwriting teams at Beazley; pricing support includes (as required):
• Developing pricing tools that support the estimation of price adequacy and rate change
• Performing portfolio and transactional pricing analyses
• Performing segmental (e.g. COB/stat, risk code, new/renewal) and trend analyses
• Performance monitoring (e.g. rate change and price adequacy metrics)
• Ceded reinsurance pricing
• Develop, maintain and review pricing models to the required standards
• Produce the relevant monthly/quarterly reports required by the Underwriting Committee
• Provide training to underwriters in pricing; this includes the benchmarking and rate change requirements
• Understand and support the underwriting controls related to pricing and the Lloyd's minimum underwriting standards
• Understand and apply the pricing quality assurance process
• Work with the underwriters, 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
• Assist in other projects undertaken by the actuarial team e.g. liability transfer valuations and business planning analyses
• Build and maintain constructive working arrangements with those groups identified as being key to your role
• 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
• 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

General

Beazley’s core values are Bold, Striving for Better, and Doing the Right Thing. Employees are expected to:

• Comply with Beazley procedures, policies and regulations, including the code of conduct incorporating the PRA and FCA Conduct
• Undertake training on Beazley policies and procedures as delivered by your line manager and other teams (compliance, risk, internal audit)
• Display business ethics that uphold the interests of all customers
• Ensure all interactions with customers focus on delivering a fair outcome and appropriate products
• Comply with specific responsibilities as outlined by your line manager and committee standards (e.g., underwriting control standards, claims control standards)
• Carry out any additional responsibilities as notified through objectives or the learning management system, including committee or working group membership

Personal Specification

Education and Qualifications

• University degree in Mathematics or related field

Skills and Abilities

• General commercial and financial knowledge
• Competent user of MS Excel; VBA, Access, 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

Knowledge and Experience

• Pricing experience; Lloyd’s / London market knowledge desirable
• Firm grasp of actuarial / statistical techniques used in pricing
• Understanding of reinsurance and capital with application to pricing

Aptitude and Disposition

• Outcome focused, self‑motivated, flexible and enthusiastic
• Professional approach to successfully interact with team members, internal and external stakeholders
• Achievement and solution focused
• Analytical
• Information seeking
• Using initiative
• Having integrity
• Taking responsibility

Benefits and Rewards

• The opportunity to connect and build long‑lasting professional relationships while advancing your career with a global organization
• Competitive base compensation and discretionary performance‑related annual bonus
• Private medical insurance coverage for 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 first calendar year) plus public holidays, with flexible bank holidays and up to five additional days per year
• Up to 2.5 days matched paid leave for volunteering and 5 days paid leave to care for a dependent with a long‑term care need annually
• Up to £550 reimbursement for home office setup
• Free in‑office lunch and monthly lifestyle allowance
• Monthly travel allowance or annual season ticket
• Six months fully paid parental leave regardless of how you become a parent
• Company‑paid sabbatical up to 12 weeks after 10 years of service
• Exam and study leave and fee support for relevant qualifications
• Smart working policy and flexible working culture

Commitment to Diversity and Inclusion

Beazley encourages candidates who do not meet all requirements to apply. We are committed to building a diverse, inclusive, and authentic workplace.