Swiss Re is hiring a
Pricing Actuary/Analyst
About the Role
As a Pricing Actuary, analyzing the profitability of the business is key. We need to identify key drivers impacting the portfolio performance. We develop proposals in collaboration with business owners to mitigate the gap between what has been costed against actual performance and ensure the profitability of the book.
You will work with counterparts in Underwriting, Reserving, Claims, and Finance to develop an independent Actuarial Pricing opinion on the portfolio's expected performance. We develop insights on trends and set parameters using Actuarial and Data Science techniques to improve the predictability and accuracy of costing models. You will have a direct impact in steering your portfolio and ultimately the overall Business Unit's performance.
About the Team
The Actuarial Portfolio Management APAC team comprises a mix of expert members entrenched in their dedicated product specialization and highly motivated newer members who thrive in a dynamic and fast-learning environment. This team reports into the Chief Underwriting Officer and is part of the Global Actuarial Portfolio Management unit.
Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally.
Main Responsibilities
Alternative Risk Transfers Pricing
- Pricing of large & complex deals using a bespoke approach as per the requirements of the client/market
- Structured solutions – costing & pricing for complex structures
- Ability to understand the risk and its nuances, recommending the structure suitable for the client, as well as any additional terms and conditions to optimize profitability
- Ability to code in Java for an in-house structuring tool
- Knowledge of other coding languages such as R, Python, SQL would be preferred
Costing Accuracy and Data Analytics
- Translate profitability findings into corrective actions on costing models and parameters
- Build and maintain costing parameters and tools in accordance with business needs
- Use of actuarial and statistical models to find trends and insights for risk selection or differentiation
- Model and price deal transactions
Profitability Studies
- Have a clear independent view on current pricing or loss adequacy driven by data analysis
- Collaborate with customers and team members to develop a pricing view and represent compelling recommendations
- Translate details into impactful Executive reports with effective communication
About You
Professional experience
- A minimum of 4 years of experience in P&C commercial insurance with good knowledge of Property and Casualty products in APAC markets
- Experience in commercial insurance pricing, portfolio profitability analysis, and costing model development
- Familiarity with reserving techniques and ability to operate between reserving and costing views
- Exposure to market/LOB portfolio ownership, acting as a go-to person for quantitative questions and solutions
Technical skills
- Highly developed numerical and analytical skills, applying these skills using real business data
- Good understanding of actuarial methods, models, and related business processes
- Statistical programming skills (e.g. R, Python, Java) and knowledge of data science techniques is an advantage
- Able to challenge and defend assumptions, methods, and conclusions
- Attention to detail while focusing on high-impact areas or solutions
Personal Leadership Skills
- Independent and accountable, with the skill to prioritize to achieve high-quality results on time
- Work for the collective success of the team, demonstrating collaboration and intercultural competence
- Articulate your work and communicate effectively in various situations
Educational level
- Master's degree in Mathematics, Statistics, Economics, or equivalent quantitative/statistical fields
- Good progression towards actuarial qualifications/Exams