Pricing Actuary - Casualty

The job holder will be a key member of the SBS & Cedant Facultative P&C Pricing and Modelling team supporting business written by SCOR (including SCOR Syndicate), focusing on Casualty lines of business.

The work includes pricing of key individual accounts, working with Underwriters, developing and maintaining pricing models, conducting pricing related analyses and any other ad-hoc reporting requirements. The job holder will also represent SBS Pricing & Modelling Team in any ongoing and future global projects.

Required experience & competencies

• A couple years of London Market Experience

• Knowledge of Microsoft Office (Proficiency in Excel). SQL, GIS and Programming skills ideally in R or Python is a plus

• Strong analytical skills. Pro-active, hands-on mentality and can-do attitude. Self-starter and solution oriented. Flexible, can adapt according to priorities. Expertise in digital technology and Data Engineering

• Clear communicator, able to structure an argument and ability to explain complex issues in a simple way. Team player, interested in sharing knowledge and helping to develop the team.

• Skills in data science, predictive modelling & analytics, machine learning, AI

• Programming skills

Required Education

• Qualified actuary (FIA) or holder of an equivalent qualification from a recognised actuarial professional body.

• Excellent academic qualifications including a minimum of a bachelor’s degree in mathematics, actuarial science, other scientific discipline (statistics, physics, natural science), economics or finance. An advanced degree (master’s or PhD) would be a plus.

Develop, test, and maintain pricing tools: 

• Develop, enhance and own direct & facultative casualty pricing tools and methodology in conjunction with Underwriters, Underwriting Management, CTO and the Specialty Insurance Methods and Tools team. 

• Ensure pricing models are appropriately calibrated and used appropriately by Underwriters, including rate change calculation. 

• Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis).

• Contribute to the team objective of improving pricing processes by implementing more innovative and data-driven approaches. 

• Build/enhance pricing tools leveraging MS Excel and support transition to web-based submission-to-bind platforms in a Python-based ecosystem. 

• Support efforts to build/refresh predictive models (e.g. Generalized Linear Models)

• Actively build and own relationship with Casualty Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.

Portfolio analysis, business planning, parameterisation and outwards RI pricing:

• Contribute to the annual planning (profitability) review of portfolio (deep-dive) by considering combined ratios, rate levels, inflationary effects, and class of business mix for Specialty Insurance (including SCOR Syndicate), which may include production of the Actuarial Function Report required as part of the SCOR Syndicate SBF process.

• Contribute to the annual capital model parametrisation process (Underwriting / Premium Risk), which is concluded in conjunction with Group Risk Management, Capital Modelling Team, and Underwriters. 

• Development and maintenance of dashboards and various management information

Reporting:

• Contribute to various regulatory tasks such as the Lloyd’s Performance Management Data Return (PMDR)

• Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.

• Any other ad-hoc reporting requirements.

Projects & Consulting: 

• Provide actuarial consulting during exploration of new projects.

• Assist with on-going underwriting projects (developing pricing requirements, systems testing, etc.) or any other ad-hoc projects

Pricing and review key individual accounts:

• Analyse and pricing of individual accounts typically with complex features or high premium.

• Conduct pricing reviews on accounts with high and extreme materiality to ensure that all accounts priced adheres to appropriate pricing review process as defined in Specialty Insurance Pricing Guidelines.