Pricing Actuary (Specialty)

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 ongoing and future global projects.

Responsibilities

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 when onboarding Underwriters onto new pricing tools or platforms.

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

• Business planning for allocated lines within the team.
• Development and maintenance of dashboards and various management information.
• Monitor emerging trends in the market across allocated lines of business.

Reporting:

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

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

Experience

• FIA (or FCAS) with a couple of years of Pricing experience in P&C insurance required, with Lloyd’s / London Market experience preferred.
• Casualty experience preferred.
• Strong analytical skills and ability to manipulate large datasets.
• Significant experience in using MS Excel in a pricing environment required, with VBA experience preferred.
• Experience using Python or other programming languages for predictive modeling preferred.

Personal Competencies:

• Highly motivated and driven individual with excellent analytical and problem-solving skills.
• Inclination to challenge the status quo in a pricing/actuarial environment.
• Effective communication skills with excellent interpersonal verbal and written skills.
• Strong collaboration skills including across time zones and non-actuarial disciplines.
• Strong organisational and time management skills required.
• Self-starting individual and excellent team player.

Required Education

• FIA (Fellow of the Institute and Faculty of Actuaries) or FCAS (Fellow of the Casualty Actuarial Society).
• Degree in Mathematics, Actuarial Science, or any other scientific discipline or equivalence.

About us

As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services 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 we work together to find solutions to pressing challenges facing societies.

As an international company, our common culture is defined by “The SCOR Way.” It serves to build momentum that drives the Group forward and as a compass to guide our actions and choices.

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