Property Pricing Actuary

How does this role contribute to our collective success?

This is your opportunity to join [Employer hidden] – a trusted global provider of property and casualty 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.

The AXIS Global Markets Property 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.

What will you do in this role?

This role will focus on supporting the Global Markets property units covering Global Property, Construction (Open Market, Construction Plant and Equipment and Binders) and Property Binders (UK, North America and International), AXIS writes worldwide property 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 role reports directly to the Global Markets Property Pricing Lead. It provides an opportunity to take a step up in responsibility within a high performing pricing team and manage end to end pricing and portfolio management processes.

The Global Markets Team within the winder Global Property Pricing Team at AXIS Insurance has responsibility for the following:

• Working closely with underwriters and other actuaries to scope, build, develop, document and maintain rating models and methods; training and support around best practice model use.
• Developing referral criteria for actuarial review of pricing deals based on premiums, strategic importance and/or historic performance of individual deals.
• Providing actuarial pricing recommendations regarding risk selection, contract structure, coverage and pricing for individual deals.
• Collaborating with other actuaries and data & analytics teams to deliver on longer term goals relating to upgrading databases, dataflows and analytical output.
• Take ownership of data and related queries within the open market and facilities units and driving improvements and efficiencies as appropriate.
• Monitor the quality and accuracy of rate monitoring data produced by rating models and/or transactional case pricing.
• Contribute to detailed product monitoring and segmental reviews within classes of business to objectively assess profitability; provide evidence-based conclusions and recommendations for strategic changes, underwriting actions and portfolio optimisation.
• Contribute to business planning process to derive CAT and xCAT loss picks for property units to assess potential profitability of the portfolio in the coming year.
• Contribute to monitoring the execution of underwriting actions and strategy implementation, assessing the impact of these on the account’s profile and emerging claims experience.
• Maintain the feedback loop (control cycle) and provision of information and analysis between the pricing, reserving, capital modelling and business planning processes.
• Get involved in ad hoc queries and requests that arise on property units from Management, UWs, Reinsurance and Reserving Teams.

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.

What you need to have:

• 4+ years experience in a general insurance actuarial role; consultancy or company.
• London Market and pricing background highly desired.
• First class or 2:1 university degree with a background in quantitative subject e.g. Mathematics, Actuarial and/or Engineering.
• Fellow of the Institute & Faculty of Actuaries or equivalent professional body; strong track record of progress in actuarial examinations to date.
• Competent user of Excel, Word and PowerPoint.
• Good understanding of the standard reserving and pricing methods used in the London Market for open market and delegated authority business, how the London market operates and the key issues and trends.
• Thoroughness, attention to detail, and strong numeracy skills.
• Keen to further technical and market knowledge through own research and CPD/PPD.

What we prefer you to have:

• Exposure to coding languages such as R or Python.
• Experience in pricing model development.
• Experience with Power BI to create dashboards.
• Knowledge of application of AI/Machine Learning application to insurance industry

Role Factors:

In this role, you will typically be required to:

• Be in the office 3 days per week and as per business needs

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.