Actuarial Analyst - Analytics

General

Job Title: Actuarial Analyst - Analytics

Key Relationships: Underwriters and business managers, Beazley actuaries, Claims managers, Data Management and Ceded Reinsurance teams.

Job Summary:           

The overarching remit of the Actuarial Analytics team is to create business value by providing tools and insights to enhance decision making and strategy throughout the company.

You will work across all our lines of business, devising analytical solutions to solve business problems across each area of Actuarial Analytics – Claims Analytics, Underwriting Analytics, Portfolio Analytics and Innovation.

Key Responsibilities:

Technical

• Underwriting Analytics: Support the delivery of impactful analytics to the underwriting teams. Develop and enhance line of business specific analysis, tools and insights to support and enhance their strategy and decision making, including portfolio monitoring and optimisation, segmentation and trend analysis, tracking exposure and technical price adequacy, and profitability studies
• Claims Analytics: Provide support to the underwriting teams, business managers and claims teams as required within the reserving process. Develop tools to better understand new and ongoing trends in the claims environment, allowing us to more quickly identify drivers of losses and respond with effective underwriting action
• Portfolio Analytics: Support the business planning process and create tools to better understand cross-class performance and market insights, enhancing growth and profitability and giving insights to better manage capital
• Innovation: Work with stakeholders from across the business to explore new ways to drive profitability. This includes conducting exploratory data analysis, trialling new solutions and building pricing models using actuarial and/or data science based methods
• Work with the data organisation, underwriters and claims managers to ensure that data requirements are communicated and delivered, such that analysis can be completed seamlessly without creation of silos, rework and multiple versions of the truth. Be proactive in ensuring that the necessary data is captured from underwriting and claims to enhance future modelling capabilities
• Identify opportunities and deliver improvements in both Analytics and wider business processes & methodologies
• 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 to the delivery and achievement of overall team and business objectives
• Keep abreast of industry best practice, new initiatives, and changes in regulatory requirements
• Undertake applicable professional, technical and career development training (delivered internally and externally); this includes maintaining actuarial PPD

General

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers." We also expect Beazley employees to:  

• Comply with Beazley procedures, policies and regulations including the code of conduct
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.  These may include membership of any Beazley committees or working groups

Essential Criteria

• University degree in Mathematics or related field
• Progress towards actuarial qualification (or desire to do so)
• Competent user of MS Excel, VBA, SQL, R, Python, Power BI
• Strong analytical skills with attention to detail; accurate and numerate

Skills and Abilities

• Able to communicate effectively both verbally and in writing
• Team worker as well as able to work on own initiative
• Ability to manage time, work on a number of tasks in parallel, meet deadlines and prioritise
• Lateral and creative thinker, demonstrating independent problem solving
• Interest in modelling and data science

Knowledge and Experience

• General commercial and financial knowledge
• Actuarial experience in insurance industry; Lloyd’s market knowledge desirable
• Understanding of actuarial / statistical techniques
• Coding experience with R / Python

Aptitude and Disposition

• Outcome focussed, self-motivated, flexible and enthusiastic
• Professional approach to successfully interact with team members and stakeholders

Competencies

• Excellent communication skills
• Value focussed
• Analytical
• Using initiative
• Independent problem solving
• Having integrity
• Taking responsibility
• Being reliable
• Attention to detail

Who We Are:

Beazley is a specialist insurance company with over 30 years’ experience helping people, communities and businesses to manage risk all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market.  Our goal is to become the highest performing sustainable specialist insurer.

Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.

Our Culture

We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee’s diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.

• Be bold
• Strive for better
• Do the right thing

Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us – our ambitious inclusion & diversity and sustainability targets are testament to this.

We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.

Explore a variety of networks to assist with professional and/or personal development. Our Employee

Networks include:

• Beazley RACE - Including, understanding and celebrating People of Colour
• Beazley SHE - Successful, High potential, Empowered women in insurance
• Beazley Proud - Our global LGBTQ+ community
• Beazley Wellbeing - Supporting employees with their mental wellbeing
• Beazley Families - Supporting families and parents-to-be

We encourage internal career progression at Beazley, giving you all the tools you need to drive your own career here, such as:

• Internal Pathways (helping you grow into an underwriting role)
• iLearn (our own learning & development platform)
• LinkedIn Learning
• Mentorship program
• External qualification sponsorship
• Continuing education and tuition reimbursement
• Secondment assignments

The Rewards

• The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, global organization
• Attractive base compensation and discretionary performance related annual bonus
• Private medical insurance coverage for both 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 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your religious beliefs, subject to approval. Additional annual leave purchase is also available up to a maximum of five additional days per year.
• Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long term care need annually
• Up to £550 reimbursement towards home office setup
• Free in-office lunch and monthly lifestyle allowance
• Monthly travel allowance or annual season ticket
• The opportunity to save for, and purchase, shares of Beazley stock
• Six months fully paid parental leave, regardless of how you come to parenthood
• Company paid sabbatical up to 12 weeks after 10 years of continued service
• Support with exam/study leave and fees for relevant qualifications related to furthering education
• Smart working policy and flexible working culture, trusting our employees to do what works best for them, their role and the needs of the business

Don’t meet all the requirements? At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you’re excited about this role but your experience doesn’t perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.