Pricing Actuary - Pricing Systems & Analytics

IQUW Property Insurance; City Of London; On-site; GBP 60,000 - 90,000; Full time

Job summary

IQUW Property Insurance is seeking a forward-thinking Pricing Actuary to architect and build a next-generation technical pricing platform. This pivotal role involves leading design and build-out efforts while incorporating advanced analytics and modelling capabilities to drive innovation and competitive advantage.

Benefits

Clear progression path to leadership

Collaborative environment with top-tier teams

Influence on strategic direction

Qualifications

• Minimum 5 years of relevant actuarial experience.
• Experienced in pricing and modelling.
• Strong analytical skills with technical expertise.

Responsibilities

• Design and develop pricing technology platforms.
• Build sophisticated pricing models incorporating actuarial techniques.
• Lead cross-functional teams to implement pricing solutions.

Skills

Actuarial skills

Programming in R

Programming in Python

Project management

Collaboration

Education

Qualified UK actuary (Fellow of IFoA preferred)

Tools

Cloud platforms (AWS, Azure, GCP)

Data visualisation tools (e.g., Tableau, Power BI)

Job description

Overview

Job Description

Pricing Actuary – Pricing Systems & Analytics Reporting to: Pricing LeadLocation: London

About us

IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.

ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.

The role

This is an exciting opportunity to join IQUW at a pivotal moment in our growth journey. As we expand our underwriting capabilities across Marine, Property, Professional Lines, Reinsurance and Specialty business, we are seeking a forward-thinking Pricing Actuary to architect and build our next-generation technical pricing platform.

This role offers a unique chance to shape the future of pricing at IQUW, starting with foundational infrastructure development and evolving into a critical leadership position within our pricing team. You'll be at the forefront of technical innovation, building sophisticated modelling capabilities that will become the backbone of our competitive advantage.

Initially, you'll lead the design and build-out of our comprehensive pricing technology platform, establishing robust foundations for advanced analytics and modelling capabilities. Building on this foundation, you'll then leverage the established infrastructure to develop sophisticated pricing models, analytics frameworks, and insights that drive underwriting excellence. Finally, you'll evolve into a crucial strategic partner, driving pricing innovation and becoming a key voice in IQUW's technical direction, cementing your position as a critical leader within the pricing function.

Key responsibilities

Technical Pricing

Infrastructure & Capability Building:

• Architect and implement a state-of-the-art pricing technology platform for syndicate 1856
• Design scalable data pipelines and analytical frameworks to support complex pricing models
• Collaborate closely with IT teams to deliver robust, automated pricing solutions
• Establish technical standards and best practices for pricing model development
• Build comprehensive testing and validation frameworks for pricing models

Advanced Modelling & Analytics:

• Develop sophisticated pricing models incorporating cutting-edge actuarial techniques
• Implement machine learning and AI solutions for pricing optimisation
• Create advanced analytics dashboards and reporting capabilities
• Design calculation engines for Risk Prices and Market prices with flexible loadings
• Build bespoke analytical tools to support underwriting decision-making

Cross-Functional Collaboration:

• Partner with Data teams to ensure optimal data architecture and quality
• Work closely with Divisional Actuaries to share insights and align methodologies
• Collaborate with underwriters to translate business requirements into technical solutions
• Provide expert technical guidance to various teams across the organisation
• Lead cross-functional projects to deliver integrated pricing solutions

Pricing Excellence

• Conduct sophisticated frequency and severity modelling to support pricing decisions
• Apply cutting-edge statistical techniques and latest actuarial science research to generate actionable insights
• Support case pricing and traditional actuarial analysis with enhanced analytical rigor
• Present findings and recommendations to senior management and key stakeholders
• Assist with regulatory reporting and compliance requirements, ensuring technical excellence
• Contribute to standard pricing processes while identifying opportunities for methodological enhancement
• Provide expert pricing support for complex underwriting opportunities and strategic initiatives

Strategic Responsibilities

• Ensure all regulatory requirements from Lloyd's, PRA, FCA impacting syndicate 1856's pricing function are addressed
• Contribute to Annual Financial Reviews (AFRs) as required
• Assist the capital team in validating syndicate 1856's internal model assumptions
• Drive innovation in pricing methodologies and analytical approaches
• Support business development through technical expertise and thought leadership

The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.

Essential qualifications, skills and experience

• Actuarial skills at the level of a qualified UK actuary (Fellow of IFoA preferred)
• Minimum 5 years of relevant actuarial experience with strong focus on pricing and modelling
• Programming skills in R and/or Python
• Experience with technical platforms, pricing systems, or analytical infrastructure
• Experience with modern data architecture, APIs, and cloud-based solutions
• Project management skills with ability to lead complex technical initiatives
• Experience working with cross-functional teams including IT, Data, and business stakeholders
• Excellent written and verbal communication skills, with ability to explain complex technical concepts

Highly desirable experience

• Experience with pricing platform development or implementation
• Knowledge of machine learning techniques and their application to insurance pricing
• Familiarity with catastrophe modelling software (e.g., RMS, AIR)
• Experience with data visualisation tools (e.g., Tableau, Power BI)
• Experience with cloud platforms (AWS, Azure, GCP)

What we offer

• Opportunity to architect and build cutting-edge pricing capabilities
• Clear progression path to becoming a critical leader within our pricing function
• Exposure to diverse lines of business and innovative underwriting approaches
• Collaborative environment working with top-tier actuarial, data science, and technology teams
• Influence on IQUW's strategic direction and competitive positioning

Desirable behavioural attributes

• Innovative: Thrives on building new solutions and pushing technical boundaries
• Collaborative: Excels at working across functions to deliver complex initiatives
• Strategic thinker: Balances immediate deliverables with long-term vision
• Results-oriented: Demonstrates strong execution capabilities and delivery focus
• Analytical: Combines technical expertise with business acumen
• Leadership potential: Shows ambition to grow into senior technical roles
• Organised: Manages multiple complex projects effectively
• Self-starter: Takes initiative and drives projects forward independently