Pricing Actuary

Job Title

Pricing Actuary - MAP Risks

Finance - Actuarial

Lead Pricing Actuary – PAC Risks

• Underwriters and business managers
• Beazley actuaries
• Claims managers
• Data Management and Ceded Reinsurance teams
• Regulators
• External actuaries
• Brokers

Actuarial pricing for the MAP Risks Division (Political, Accident, Contingency, Marine and Portfolio Underwriting) at Beazley.

• Provide pricing support to the MAP Risks underwriting teams at Beazley; pricing support includes (as required)
• Develop pricing tools that support the estimation of price adequacy and rate change
• Perform portfolio and transactional pricing analyses
• Perform segmental and trend analyses
• Monitor performance (e.g., rate change and price adequacy metrics)
• Develop, maintain and review pricing models to the required standards
• Contribute effectively to the production of the relevant reports required for any key committees
• Provide training to underwriters in pricing, including technical pricing and rate change requirements
• Understand and support underwriting controls related to pricing and relevant regulatory principles
• Understand and apply the pricing quality assurance process
• Assist in other projects undertaken by the actuarial team (e.g., liability transfer valuations and business planning analyses)
• Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives
• Build technical pricing skills and experience
• Provide support and mentoring to junior members of the team
• Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
• Build and maintain constructive working arrangements with key groups identified for the role
• Work with underwriters, exposure management, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of data used for pricing and capture necessary data from pricing tools to enhance future pricing capabilities
• Maintain pricing model documentation with required frequency, obtaining appropriate managerial sign-offs
• Identify opportunities and contribute to delivering improvements in pricing processes and methodologies
• Undertake professional, technical and career development training (delivered internally and externally) and pursue the actuarial qualification where applicable

• Actuarial qualification
• Pricing experience with specialty (re)-insurance market knowledge desirable
• Firm grasp of actuarial/statistical techniques used in pricing
• Understanding of reinsurance and capital with application to pricing

• University degree in Mathematics or a related field

• General commercial and financial knowledge
• Competent user of MS Excel; VBA, Access, Python, SQL and R skills desirable
• Strong analytical skills with attention to detail; accurate and numerate
• Able to communicate effectively both verbally and in writing
• Team worker as well as able to work on own initiative
• Ability to manage time, meet deadlines and prioritise

• Outcome focused, self‑motivated, flexible and enthusiastic
• Professional approach to successfully interact with team members, internal and external stakeholders

• Achievement and solution focused
• Analytical
• Information seeking
• Stakeholder focus
• Using initiative
• Having integrity
• Taking responsibility
• Attention to detail

• Attractive base compensation and discretionary performance‑related annual bonus
• Private medical insurance coverage for both you and your dependents
• Company‑paid life assurance and long‑term disability insurance
• Pension with 10% employer contribution, plus a further matched contribution up to 2.5%
• 25 days of annual leave (prorated for the first calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your beliefs; additional annual leave purchase available up to a maximum of five additional days per year
• Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long‑term care need annually
• Up to £550 reimbursement towards home office setup
• Free in‑office lunch and monthly lifestyle allowance
• Monthly travel allowance or annual season ticket
• Opportunity to save for, and purchase, shares of Beazley stock
• Six months fully paid parental leave, regardless of how you come to parenthood
• Company‑paid sabbatical up to 12 weeks after 10 years of continued service
• Support with exam/study leave and fees for relevant qualifications related to furthering education
• Smart working policy and flexible working culture, trusting employees to do what works best for them, their role and the needs of the business