Tesco Insurance and Money Services
Actuarial Analyst
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About the Role
Serving our customers, communities, and planet a little better every day.
Starting Salary: from £38,000 - £47,500 (depending on experience) plus competitive benefits
Work Level: 1
Location: Reigate
Permanent Office Attendance: Our hybrid working model gives you the best of both worlds - flexibility to work from home and valuable face-to-face time with colleagues. This role typically requires 2-3 days per week onsite in the Reigate office.
Closing Date: 09/10/2026 at 5pm
Opportunity
We deal in the personal – from pet insurance for your best friend, and home insurance for peace of mind, to motor insurance for your dream car or travel money for that trip you’ve worked hard for. And that means we always work with heart. Whether we’re helping our customers or looking after our people, you’ll find there’s a warmth and friendliness to everything we do.
We’re looking for an Actuarial Analyst to join our Tesco Insurance and Money Services team. This is a fantastic opportunity to start your actuarial career in a supportive and collaborative environment.
You'll work alongside experienced actuaries and analysts, developing your technical and commercial skills while supporting financial reporting and business management activities. Through structured training, on-the-job learning and professional study support, you'll gain exposure to a variety of actuarial work including reserving, data analysis, modelling and forecasting.
You'll work with a range of data sources and stakeholders, helping to generate insights into claims, pricing, risk and business performance, while developing the skills needed to become a qualified actuary.
The Role
- Reserving and reporting: Delivering reserving analyses, for Motor and Home insurance, on a best estimate basis and contributing to internal and external reporting on insurance provisions under IFRS 17 and Solvency II bases. Option of supporting standard formula capital calculations depending on interest and experience.
- Data management and analysis: Processing, maintaining and analysing claims and policy data, ensuring high data quality, strong governance and accurate, timely management information.
- Actuarial modelling and methods: Developing, maintaining and validating actuarial models, assumptions and data requirements, and applying appropriate actuarial and statistical techniques to generate insights.
- Insights and decision support: Producing actuarial insights to support business decisions, supported by market and industry research.
- Process improvement: Supporting enhancements to reserving and reporting processes, actuarial systems and methodologies, with a focus on continuous improvement.
- Collaboration and stakeholder engagement: Working closely with Underwriting, Risk, Claims, Finance and other stakeholders to embed the actuarial function into the business.
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We need you to have
- A degree in a numerate subject such as Mathematics, Statistics, Actuarial Science, Economics, Engineering, Physics or a related discipline.
- A strong academic record with excellent numerical and analytical skills.
- An interest in pursuing a professional actuarial qualification through the IFoA (or equivalent).
- Strong communication skills, with the ability to present technical information clearly and work as part of a team.
- The ability to manage and prioritise work effectively to meet deadlines.
- A proactive and structured approach to problem solving.
- A continuous improvement mindset, looking for ways to enhance processes and outputs.
- Flexibility to adapt to the changing insurance market.
- Experience using Microsoft Excel and an interest in developing technical data skills.
- Willingness to work collaboratively in person at our Reigate office at least 2-3 days per week.
And if you have any of these, even better
- Completion of one or more IFoA exams.
- Internship, placement year or project experience in actuarial, insurance, finance, analytics or data-related roles.
- Experience using programming or data analysis tools such as Python, R, SAS, SQL or Power BI.
- Exposure to statistical modelling, data visualisation or predictive analytics through academic studies or projects.
- Knowledge of insurance or financial services gained through coursework, placements or personal interest.
We welcome applications from everyone.
If you’re excited about this role but your experience doesn’t align perfectly with every requirement, we’d still love to hear from you.
What’s in it for you?
- A generous pension, with up to 7.5% employer contribution, depending on what you put in.
- Virtual GP Service for you and your family.
- Performance related annual bonus.
- 7.2 weeks holiday, with the opportunity to buy more.
- Colleague Clubcard discount (10-15% + second card to share with someone else).
- Enhanced parental leave.
- Opportunities to Save and Buy as you earn.
- A place to get on - take advantage of our ongoing learning opportunities to help you achieve the job and career you want.
More information
As a Disability Confident Employer (Level 2), we’re committed to creating an accessible and supportive environment for all. We offer reasonable adjustments throughout the recruitment process, including interviews, to ensure every candidate has a fair opportunity to succeed.
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We also know the importance of balancing work with life’s other commitments. Please talk to us at interview about the flexibility you need, as we’re committed to exploring part time and flexible working opportunities, at every level of the organisation.
Interviews are expected to be held shortly after closing date.
Why Tesco Insurance and Money Services?
Seeing your impact all around you: there's no better feeling.
Lucky for us, we get to feel it all the time. Because whatever our role, we're helping our colleagues and serving our customers, communities and planet a little better every day.
We deal in the personal – from pet insurance for your best friend, and home insurance for peace of mind, to motor insurance for your dream car or travel money for that trip you’ve worked hard for.
Everything we do is about making things better. Not just for others, but for you too. It's why you'll get bags of choice and plenty of development. It's why you'll always be heard and find balance that works for you. It's why you'll feel totally at home in a place where everyone's welcome.
So, if you want a career where you can do good and feel good, you've found it.
Let's make everyday a little better.
Our story
Making Insurance and Money Services more rewarding and offering great value and choice - because we know little wins can make a big difference.
We began life in 1997 and now help more than 2 million customers protect what matters to them.
We want to deliver a helpful service in everything we do and to make life easier for our customers. Our policies are really easy to manage online for our customers, but we know that being able to speak to our customer service staff when you need to is really important. This is why our customer service centers are open seven days a week.
Delivering great customer service means having great people behind the scenes – people who understand our customers and are driven by doing the right thing for them. We offer colleagues a place where they can feel totally at home in a place where everyone's welcome, where they can be part of a great team focused on making a real difference for our customers.
How to apply
We value our people and diverse teams and believe the variety of backgrounds and experiences make us stronger to achieve our goals.
Our colleagues are working hybrid, taking time to meet with colleagues in our offices for moments that matter, such as team catch ups, planning meetings and more. If you’re interested in finding out more about what a career at Tesco Insurance and Money Services looks like, click apply to find out more!
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