Job Title:
Pricing Actuary – Portfolio Solutions
Job Description
The role of a Pricing Actuary – Portfolio Solutions is to support the growth of our portfolio solutions class. We are looking for a candidate with strong expertise and best practice knowledge to design and implement technical pricing processes for portfolio business, supporting our data-driven and analytics-based underwriting approach.
Key Responsibilities:
* Design and implement pricing models for portfolio solutions business across multiple classes.
* Work with underwriters to define key policy features and parameters.
* Identify and leverage internal and external data sources.
* Set up pricing templates and models for use by underwriters.
* Assist with the implementation and maintenance of pricing software.
* Work closely with the exposure management team to monitor aggregations.
* Assist with forming an IQUW view of risk across modelled and non-modelled perils.
* Act as expert adviser to underwriters using the pricing software, adding bespoke features as required.
Portfolio Monitoring, Analysis and Reporting:
* Monitor and report various pricing metrics (e.g. pricing adequacy, RARC etc.).
* Develop MI to identify underperforming segments and facilities.
* Contribute to portfolio optimisation and capital allocation workstreams.
* Part of feedback loop between annual planning cycle, reserving, pricing and capital.
Reserving Process for Portfolio Solutions Class:
* Extract and utilise key information from case pricing exercises, including planned premium, expected losses and development profiles.
* Develop and maintain reserving methodologies appropriate for portfolio business.
* Provide regular updates on reserving adequacy and emerging trends.
* Work with the broader actuarial team to ensure consistency in approach across classes.
Collaboration with Brokers, MGAs and Consortium Partners:
* Partner with external stakeholders to develop tailored pricing frameworks.
* Evaluate and assess partner data quality and reporting capabilities.
* Support business development by providing technical expertise for new opportunities.
* Build relationships with key market stakeholders to understand evolving portfolio needs.
Professional Development Initiatives:
* Contribute to team knowledge sharing.
* Keep current with emerging actuarial techniques and market trends.
* Contribute to IQUW's thought leadership in the specialty insurance space.
* Represent the company at industry forums and events when appropriate.
Communication and Collaboration:
Ensure all regulatory requirements from Lloyd's, PRA, FCA impacting portfolio solutions' pricing function are known and addressed.
Contribute to AFRs as required.
Deliver additional analysis and documentation that may be required and assist the capital team in validating syndicate 1856's internal model assumptions.
],