Job Description

Are you looking for your next opportunity?

Sompo has a unique opportunity for an Actuarial Analyst in our UK Pricing team to support our London Market business. The role sits within the team that supports the Specialty Lines underwriters, covering Marine, Energy, Aviation, Financial & Political Risk and Crisis Management. You will have the opportunity to gain hands-on experience and contribute to real projects and initiatives within our company. The role will offer exposure to a dynamic work environment and the chance to work alongside experienced professionals in the field.

Our UK Insurance Pricing team offers Actuarial support to the London Market Underwriters. We work closely with the underwriters to determine the support required to achieve their strategies for growing the business profitably throughout the market cycle. The Specialty Lines portfolio is a well-established mature portfolio (circa $1bn) and forms a core part of our UK offering. We work alongside our colleagues across the Sompo group to enhance our understanding of market practice and to enact best practice in a pricing role.

Location: This position will be based out of our London office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.

Our business, your impact, our opportunity

What you’ll be doing:

• Assist in data collection, analysis and validation for actuarial modelling and calculations.
• Use and develop tools for the monitoring and reporting of rate change and rate adequacy.
• Collaborate with cross-functional teams to understand business objectives and provide actuarial insights.
• Pricing of complex contracts across the classes listed, ensuring close collaboration with the underwriters, providing clear explanation of technical Actuarial modelling techniques alongside the results.
• Support in developing pricing models for new areas of business written by the Underwriting team and update the pricing models through reparameterisation exercises and structural modifications where necessary.
• Apply actuarial pricing techniques to individual account analysis and portfolio analyses and prepare presentations and quantitative exhibits for management and underwriters that convey insight and key outcomes.
• Contribute to the business planning process, working with the lead Pricing Actuary for the class of business and the underwriters to articulate business plans and the rationale that underpins them.
• Assist in identifying and assessing strategic growth opportunities by working alongside the underwriting team to better understand the current portfolio against the market portfolio.
• Completion of risk audits to ensure the pricing models are being completed appropriately by the underwriters and that the modelled results are reasonable, taking action to resolve any deficiencies.
• Research into industry developments and trends that could impact Sompo.
• Other ad hoc duties as required.