Pricing Actuary

Pricing Actuary

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.

• 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

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

• University degree in Mathematics or related field
• Actuarial qualification

• 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

• 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

• Outcome focused, self‑motivated, flexible and enthusiastic
• Professional approach to successfully interact with team members, internal and external stakeholders

• Achievement and…