Pricing Actuary

Job title:

Pricing Actuary

Company

AXIS Capital

Job description

This is your opportunity to join AXIS Capital – a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry.At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.How does this role contribute to our collective success?The AXIS pricing team is closely aligned to the divisional underwriting structure, providing embedded support to each of the underwriting units. The team provides analytical capability in pricing and exposure modelling in respect of all business written through the Global Markets division.This role will be working with the Specialty business unit which includes Marine Liability, Cargo, Specie, and Aviation. The focus will be on working closely and providing the primary support for the Marine Liability portfolio (Marine & Energy Liability, P&I Clubs, Marine War, Ports & Terminals, plus other sub-classes).This market leading underwriting team write worldwide business on both syndicate and company paper. This role also offers the opportunity to get involved in many cross-divisional pricing initiatives and work alongside different areas of the business.This hybrid role is based in London with an emphasis on in-person interaction mirroring the business style of AXIS and the London market.AXIS will provide study support for the completion of actuarial examinations (if applicable)What will you do in this role?This role will:

• Support underwriters with the evaluation of new and renewal business by providing detailed actuarial analysis of expected profitability and impact on the existing book of business
• Work closely with underwriters and the wider pricing team to scope, build, develop, document and maintain rating models and methods
• Provide actuarial pricing recommendations regarding risk selection, contract structure, coverage and pricing for individual deals.
• Collaborate with the pricing systems development team and data & analytics teams to deliver on longer term goals relating to upgrading pricing models, databases, dataflows and analytical output
• Input into the business planning process for the AXIS Group and legal entities – primarily to determine gross loss ratio picks, but also to inform assumptions around the efficacy of, and recoverability from, different outwards reinsurance programme structures.
• Work alongside pricing team to further develop product monitoring and segmental review process within classes of business to objectively assess profitability; provide evidence-based conclusions and recommendations for strategic changes, underwriting actions and portfolio optimisation.
• Establish and maintain tracking and monitoring processes on segments of current portfolio to help identify and communicate early trend/ key insight emergence.
• Evaluate the impact of market conditions and rate change. Analyse the rating environment and market behaviour within key business lines.
• Maintain the feedback loop (control cycle) and provision of information and analysis between the pricing, reserving, capital modelling and business planning processes.
• Assist in regular reporting requirements internally and externally as required.

You may also be required to take on additional duties, responsibilities and activities appropriate to the nature of this role.About You:We encourage you to bring your own experience and expertise to the table, so while there are some qualifications and experiences, we need you to have, we are open to discussing how your individual knowledge might lend itself to fulfilling this role and help us achieve our goals.We encourage you to bring your own experience and expertise to the table, so while there are some qualifications and experiences, we need you to have, we are open to discussing how your individual knowledge might lend itself to fulfilling this role and help us achieve our goals.What you need to have:

• At least three years’ experience in a general insurance actuarial role; consultancy or company. London Market and pricing background highly desired.
• Ideally the candidate would be a qualified actuary (FIA, FCAS, FIAA, FSAI) but candidates with a strong track record of progress in actuarial examinations to date and approaching qualification would be considered.
• Keen collaborator able to build relationships with underwriters, actuaries, and other colleagues
• Able to communicate technical concepts to a non-technical audience
• Growth mind-set with a desire to seek diverse thought, learn from others and share

Knowledge

• Timeliness of delivery and ability to prioritise work effectively. This role will involve triaging workflow with the marine liability underwriting team and taking responsibility for timely delivery of pricing output

What we prefer you to have:

• Knowledge of Specialty exposures, coverages and accumulation models
• General insurance, London Market and pricing backgrounds are highly desired, but not essential
• The ability to manipulate complex datasets using tools VBA, SQL, R, Python, or similar

Role Factors:In this role, you will typically be required to:

• Be in the office at least 3 days per week – this role has an emphasis on in-person interaction mirroring the business style of AXIS and the London market

What we offer:You will be eligible for a comprehensive and competitive benefits package which includes medical plans for you and your family, health and wellness programs, retirement plans, tuition reimbursement, paid annual leave, and much more.

Expected salary

Location

London

Job date

Sat, 04 Jan 2025 05:11:58 GMT

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