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 Casualty 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

Develop, test, and maintain pricing tools:

• Develop, enhance and own direct & facultative casualty 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 team objective of improving pricing processes by implementing more innovative and data-driven approaches.
• Build/enhance pricing tools leveraging MS Excel and support transition to web-based submission-to-bind platforms in a Python-based ecosystem.
• Support efforts to build/refresh predictive models (e.g. Generalized Linear Models).
• Actively build and own relationships with Casualty Underwriters and assist in change management when onboarding Underwriters onto new pricing tools or platforms.

Portfolio analysis, business planning, parameterisation and outwards RI pricing:

• Contribute to the annual planning review of portfolio by considering combined ratios, rate levels, inflationary effects, and class of business mix for Specialty Insurance.
• Contribute to the annual capital model parametrisation process, which is concluded in conjunction with Group Risk Management, Capital Modelling Team, and Underwriters.
• Develop and maintain dashboards and various management information.

Reporting:

• Contribute to various regulatory tasks such as the Lloyd’s Performance Management Data Return (PMDR).
• Regularly monitor and provide feedback on Underwriter Adjustments and pricing strength against long-term profitability targets.
• Handle 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 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:

• A couple of years of London Market Experience.
• Knowledge of Microsoft Office, with proficiency in Excel. SQL, GIS, and programming skills in R or Python are a plus.
• Strong analytical skills, proactive, hands-on mentality, and can-do attitude. Self-starter and solution-oriented. Flexible and able to adapt according to priorities.
• Clear communicator, able to structure an argument and explain complex issues simply. Team player, interested in sharing knowledge and helping to develop the team.
• Skills in data science, predictive modelling & analytics, machine learning, and AI.
• Programming skills.

Required Education:

• Qualified actuary (FIA) or holder of an equivalent qualification from a recognised actuarial professional body.
• Excellent academic qualifications including a minimum of a bachelor’s degree in mathematics, actuarial science, or other scientific disciplines. An advanced degree would be a plus.

About us

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

Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others.

As an international company, our common culture is defined by “The SCOR Way.” We care about clients, people, and societies. We perform with integrity, act with courage, encourage open minds, and thrive through collaboration.

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