OverviewJob DescriptionPricing Actuary – Portfolio SolutionsGrade: 3Reporting to: Head of PricingLocation: LondonAbout usIQUW is a speciality (re)insurer at Lloyd's (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. Our goal is to combine data, intelligent automation and human expertise to make smart decisions, fast.London Portfolio Solutions specialises in writing a diverse portfolio of follow business targeting high performing Broker Facilities, Lloyd's Consortia, MGAs, and Reinsurance. We have a dynamic and empowering mandate, encompassing a diverse range of business lines and geographies including Property, Casualty, Specialty and Multi-Line business.The roleThis is a newly created role to support the growth of our Portfolio Solutions class, which aims to establish enduring partnerships with parties demonstrating consistent outperformance against market peers across the cycle.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 responsibilitiesResponsible for designing and implementing pricing models for Portfolio Solutions business across multiple classes:Work with underwriters to define key policy features and parametersIdentify and leverage internal and external data sourcesSet up pricing templates and models for use by underwritersAssist with the implementation and maintenance of pricing softwareWork closely with the Exposure Management team to monitor aggregationsAssist with forming an IQUW view of risk across modelled and non-modelled perilsAct as expert adviser to underwriters using the pricing software, adding bespoke features as requiredResponsible for portfolio monitoring, analysis and reporting:Monitor and report various pricing metrics (e.g. pricing adequacy, RARC etc.)Develop MI to identify underperforming segments and facilitiesContribute to portfolio optimisation and capital allocation workstreamsPart of feedback loop between annual planning cycle, reserving, pricing and capitalResponsible for carrying out the reserving process for the Portfolio Solutions class:Extract and utilise key information from case pricing exercises, including planned premium, expected losses and development profilesDevelop and maintain reserving methodologies appropriate for portfolio businessProvide regular updates on reserving adequacy and emerging trendsWork with the broader actuarial team to ensure consistency in approach across classesCollaborate with brokers, MGAs and consortium partners:Partner with external stakeholders to develop tailored pricing frameworksEvaluate and assess partner data quality and reporting capabilitiesSupport business development by providing technical expertise for new opportunitiesBuild relationships with key market stakeholders to understand evolving portfolio needsLead professional development initiatives:Contribute to team knowledge sharingKeep current with emerging actuarial techniques and market trendsContribute to IQUW's thought leadership in the specialty insurance spaceRepresent the company at industry forums and events when appropriateDevelop strong communication and collaboration with underwriters, capital and reserving teamsEnsure all regulatory requirements from Lloyd's, PRA, FCA impacting Portfolio Solutions' pricing function are known and addressed. Contribute to AFRs as requiredResponsible to deliver additional analysis and documentation that may be required andAssist the capital team in validating syndicate 1856's internal model assumptions.The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.Essential qualifications, skills and experienceActuarial skills at the level of a qualified UK actuaryMinimum of 5 years of relevant actuarial experience in insurance pricingExperience with catastrophe modelling software (e.g., RMS, AIR)Proficiency with data visualisation tools (e.g., Tableau, Power BI)Knowledge of machine learning techniques for portfolio optimisationPricing knowledge across multiple lines of business, particularly within broker facilities, MGAs or consortia is an advantageExperience with programming in R or Python an advantageKnowledge and skills relating to the management of insurance data; andStrong written and face to face communication skills.Desirable behavioural attributesAnalyticalTeam player with ambition to leadOrganisedPersuasiveSelf-starterName (PRINT): .………………………………………………………Signature: …………………………………………………………………………Date: …………………………………………………………………………………
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