Pricing Actuary

Job Description

The job holder will be a key member of the SBS & Cedant Facultative P&C Pricing and Modelling team supporting business written by SCOR, focusing on Property, Construction, and Specialty lines of business.

The work includes pricing of key individual accounts, working with Underwriters, developing and maintaining pricing models, conducting pricing related analyses, and any other ad-hoc reporting requirements.

The job holder will also represent the SBS Pricing & Modelling Team in any ongoing and future global projects.

Responsibilities

Key duties and responsibilities include:

• Develop, test, and maintain pricing tools.
• Develop and enhance direct & facultative pricing tools and methodology in conjunction with Underwriters, Underwriting Management, CTO, and the Specialty Insurance Methods and Tools team.
• Ensure pricing models are appropriately calibrated and used by Underwriters, including rate change calculation.
• Maintain existing pricing tools including technical documentation, specifications, and change parameter documentation.
• Contribute to the long-term objective of the Pricing Team by helping to implement a more innovative and data-driven approach to their pricing processes.
• Actively build relationships with Underwriters and assist in change management, including training when onboarding Underwriters on new pricing tools or platforms.

NatCat Support

• Support senior members of the Team in the provision and delivery of analytics relating to modelled and non-modelled CAT.
• Assist with processing of pre/post bind analyses and maintenance of a reliable and accurate exposure dataset.
• Enter/upload/model exposure information in catastrophe modelling software.
• Conduct regular portfolio roll-up and probabilistic analysis.

Portfolio Analysis, Business Planning, Parameterisation, and Outwards RI Pricing

• Development and maintenance of dashboards and various management information.

Reporting

• Contribute to various regulatory tasks.
• Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength against long-term profitability targets.
• Any other ad-hoc reporting requirements.

Projects & Consulting

• Provide actuarial consulting during exploration of new projects.
• Assist with ongoing underwriting projects or any other ad-hoc projects.

Pricing and Review of Key Individual Accounts

• Analyse and price individual accounts typically with complex features or high premium.
• Conduct pricing reviews on accounts with high and extreme materiality to ensure adherence to appropriate pricing review processes.

Qualifications

Required experience & competencies:

• First working experience in an Exposure Management or Cat Modelling team is a plus.
• Knowledge of Microsoft Office, especially Excel. SQL, GIS, and Programming skills in R or Python is a plus.
• Strong analytical skills, pro-active, hands-on mentality, and can-do attitude.
• Clear communicator, able to structure an argument and explain complex issues simply.
• Skills in data science, predictive modelling & analytics, machine learning, and AI.
• Good understanding of the underwriting process, commercial considerations, and policy terms and conditions.

Required Education:

• Minimum of a bachelor’s degree in mathematics, actuarial science, or other scientific disciplines. An advanced degree would be a plus.
• English: B2 level.

About Us

As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to manage risk.

Working at SCOR means engaging with some of the best minds in the industry as we work together to find solutions to pressing challenges.

SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.