Provide pricing and analytics support to the various underwriting teams; pricing support includes (as required):
Developing pricing tools that support the estimation of price adequacy and rate change
Performing portfolio and transactional pricing analyses
Performing segmental (e.g. COB/stat, risk code, new/renewal) and trend analyses
Performance monitoring (e.g. rate change and price adequacy metrics)
Ceded reinsurance pricing
Develop, maintain and review pricing models to the required standards
Produce the relevant monthly/quarterly reports required by the Underwriting Committee
Understand and support the underwriting controls related to pricing and the Lloyd's minimum underwriting standards
Understand and apply the pricing quality assurance process
Work with the underwriters, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of the data used for pricing; ensure the necessary data is captured from pricing tools to enhance future pricing capabilities
Maintain pricing model documentation with required frequency, obtaining the appropriate managerial sign-offs
Assist in other projects undertaken by the actuarial team e.g. liability transfer valuations and business planning analyses
Build and maintain constructive working arrangements with those groups identified as being key to your role
Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives
Build your technical pricing skills and experience
Contribute to improving the pricing processes and methodologies
Undertake professional, technical and career development training (delivered internally and externally); this includes pursuing the actuarial qualification where applicable
General
Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
Comply with Beazley procedures, policies and regulations including the code of conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, and internal audit) either directly, via e-learning or the learning management system.
Display business ethics that uphold the interests of all our customers.
Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, and company’s claims control standards, other Beazley standards and customer relationship management.
Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Competencies
Achievement and solution focused
Analytical
Information seeking
Stakeholder focus
Using initiative
Having integrity
Taking responsibility
Being reliable
Attention to detail
Required Knowledge, Skills, and Abilities
University degree in Mathematics or related field. Progress towards an actuarial qualification. General commercial and financial knowledge. Competent user of MS Excel; VBA, Access, 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 priorities. Building pricing experience; Lloyd’s / London market knowledge desirable. Grasp of actuarial / statistical techniques used in pricing. Building understanding of reinsurance and capital with application to pricing. Outcome focused, self-motivated, flexible and enthusiastic. Professional approach to successfully interact with team members, internal and external stakeholders.