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Swiss Re is hiring an

Associate Actuary (Pricing)

About Swiss Re

The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cybercrime.

The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally.

It is organised into three Business Units, each with a distinct strategy and set of objectives contributing to the Group’s overall mission.

About the Team

Sitting in the Casualty Underwriting Office, the International Pricing team is a multi-national team responsible for EMEA & APAC regions. We aim to provide a one-stop shop offering insights and guidance for Costing adequacy, portfolio performance management and data services for complex and simple business submissions. We are Centre of expertise for Casualty actuarial topics, connecting and aligning with the Underwriting Transformation team.

Our Team is passionate about their work and is supporting and promoting a feedback culture based on agile values, encouraging our Squad members to take freedom to drive their vision and authority for their decisions. Our location at the heart of Bangalore has been witnessing sustainable growth - the kind of growth characterized by the complex and differentiated value delivered to the business.

About the Role

This position is an exciting opportunity to join the International Pricing team part of Casualty Underwriting office. The focus area would be building of Actuarial Models to price Casualty Reinsurance business, calibration of parameters, maintenance of Actuarial pricing tools and providing training and support to the Underwriters. In this role you will give actuarial advice to treaty underwriters worldwide on more sophisticated and large risks or portfolios. Your primary responsibilities will include but not limited to:

  • Development of portfolio level costing parameters, models and analytics, e.g. market curves, tiering and default or pre-submission loss ratios, for the Market Units and Casualty Desks
  • Oversee submission Data imports for Complex and Simple business in coordination with the UW desks.
  • Monitor portfolio development and initiate steering actions as needed (for Simple and Complex business)
  • Collaborate with Underwriting Desks, Market Units and Underwriting transformation team to establish costing, portfolio steering & monitoring approaches.
  • Collaborate with Tools & Systems team to actively influence tool development towards the Simplex vision as representative of user community.
  • Participate in various Global Rate Review projects using sophisticated analytics tools like Palantir, R, Python, etc.

About You

We are happy to meet you if you possess:

  • Bachelor's degree in actuarial science/ Computer Science/Mathematics
  • A good understanding of actuarial methods, models, and related business processes.
  • A minimum of 5+ years of experience in P&C commercial insurance. Good knowledge of Property and Casualty products in APAC and or EMEA markets.
  • Experience in commercial insurance pricing, portfolio profitability analysis and costing model and tool development. Know-how of reinsurance treaty pricing would be an additional advantage.
  • Familiarity with reserving techniques and can confidently operate between the two (reserving and costing) views, sufficiently identifying parallels and divergences in developing an independent costing assessment.
  • Exposure to market/LOB portfolio ownership, acting as a go-to person for quantitative questions and solutions, but also comfortable to be both an advocate and a provider of dissenting opinions.
  • Excellent interpersonal, communication and influencing skills.
  • A continuous improvement mind-set and dedication to uncovering better ways of working.
  • "CAN DO" mentality and willingness to learn new technologies to continuously upskill.
  • Excellent communication and stakeholder management skills, with the ability to effectively communicate with both technical and non-technical audiences in an international environment.
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