Pricing Actuary

Specific Responsibilities

• Act as a main point of contact within the Actuarial Function for key underwriting teams within Lancashire.
• Deploy pricing models for new lines of business.
• Maintain existing pricing models and enhance in line with best in class principles.
• Integrate key systems with the pricing platforms to leverage data and functionality.
• Ensuring models and processes are aligned with both Lloyd’s principles at the required maturity and the Lancashire view of pricing best practice.
• Update parameters for pricing models, using Lancashire and benchmark data.
• Conduct annual model reviews in accordance with the Pricing Policy.
• Upkeep of relevant documentation libraries.
• Provide data driven insights to underwriting decision making.
• Research market trends and use external datasets to provide underwriting insights and develop innovative pricing approaches.
• Undertake Case pricing reviews, manage the Case Pricing workload of the team and ensure alignment to Case Pricing terms of reference.
• Contribute to an enhanced pricing MI suite for Lancashire.
• Manage the junior member of the pricing team and provide appropriate on the job training.
• Attend relevant committees.
• Undertake project work for the Group Head of Pricing and Capital, as necessary.
• Provide support to other actuarial functions, as required. This would include reserving, capital modelling, catastrophe exposure analytics and validation.
• To act in accordance with all applicable Supervisory Bodies, principles, rules and regulations.

Essential Skills & Requirements

• Qualified actuary (or near).
• Minimum 5 years’ experience in General Insurance in a pricing role.
• Extensive Lloyd’s or London Market experience.
• Experience of building, maintaining and enhancing pricing models.
• Experience of case pricing.
• Excellent IT skills, including Python, MS Excel, VBA, MS Access, SQL, R, Power BI.
• Knowledge of pricing platforms, preferably hx:Renew.
• Strong analytical, technical and presentational skills to enable the results of actuarial analysis and of actuarial methods to be communicated to a non-actuarial audience.
• Problem solving skills and project management skills.
• Excellent interpersonal skills, as there will be a high level of communication.
• Good attention to detail.
• Able to work well under pressure and time manage.

The Lancashire Way