SCOR
Pricing Actuary, Specialty - SBS (SCOR Business Solutions)
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- All candidates must have the full & permanent right to work in the UK
The P&C Pricing & Modelling (P&M) team provides comprehensive risk pricing and modelling analyses to SCOR's underwriting teams located worldwide, ensuring adequate solutions for SCOR's clients. The P&M teams are also highly involved in the development and improvement of methods, tools and processes for Pricing and Modelling, as well as the integration of data science and AI.
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying "The Art & Science of Risk," SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide. Working at SCOR means engaging with some of the best minds in the industry - actuaries, data scientists, underwriters, risk modelers, engineers, and many others - as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by "The SCOR Way." Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.
Job Description
The job holder will be a key member of the SBS & Cedant Facultative P&C Pricing and Modelling team supporting business written by SCOR (including SCOR Syndicate), focusing on Property, Construction and Specialty lines of business. The work includes pricing of key individual accounts, working with Underwriters, developing and maintaining pricing models, conducting pricing related analyses and any other ad-hoc reporting requirements. The job holder will also represent SBS Pricing & Modelling Team in any ongoing and future global projects.
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Job Responsibilities
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Develop, test, and maintain pricing tools
- Develop and enhance direct & facultative pricing tools and methodology in conjunction with Underwriters, Underwriting Management, CTO and the Specialty Insurance Methods and Tools team.
- Ensure pricing models are appropriately calibrated and used appropriately by Underwriters, including rate change calculation.
- Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis).
- Be a contributor to the long term objective of the Pricing Team by helping to implement a more innovative and data driven approach to their pricing processes with pricing model development on two web-based platforms: Underwriting Platform (UP), an internal web-based application designed to be a submission to bind tool for underwriters to write risks, and Renew, a third-party software as a service (SaaS) platform for developing and deploying Python pricing models.
- Actively build relationship with Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.
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Portfolio analysis, business planning, parameterisation and outwards RI pricing
- Business planning for allocated lines within the team (company & syndicate)
- Development and maintenance of dashboards and various management information
- Monitor emerging trends in the market across allocated lines of business.
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Reporting
- Contribute to various regulatory tasks such as the Lloyd's Performance Management Data Return (PMDR)
- Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.
- Any other ad-hoc reporting requirements.
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Development and maintenance of dashboards and various management information
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Projects & Consulting
- Provide actuarial consulting during exploration of new projects.
- Assist with on-going underwriting projects (developing pricing requirements, systems testing, etc.) or any other ad-hoc projects
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Pricing and review key individual accounts
- Analyse and pricing of individual accounts typically with complex features or high premium in UP or Xact.
- Conduct pricing reviews on accounts with high and extreme materiality to ensure that all accounts priced adheres to appropriate pricing review process as defined in SBS Pricing Guidelines and Cedant Facultative Pricing Guidelines.
Experience
- FIA (or FCAS) with a couple years of Pricing experience in P&C insurance required, with Lloyd's / London Market experience preferred.
- Casualty (e.g. General Liability, Excess Casualty/Umbrella, Environmental, Directors & Officers, Financial Institutions, Professional Lines, etc.) experience preferred.
- Strong analytical skills and ability to manipulate or handle large datasets.
- Significant experience in using MS Excel in a pricing environment required, with VBA experience preferred
- Experience using Python or any other programming languages for predictive modeling (GLMs, ML, etc.) preferred.
Personal Competencies
- Highly motivated and driven individual with excellent analytical and problem-solving skills
- Inclination to challenge the status quo in a pricing/actuarial environment
- Effective communication skills with excellent interpersonal verbal and written skills
- Strong collaboration skills including across time zones and non-actuarial disciplines
- Strong organisational and time management skills required
- Self-starting individual and excellent team player
Required Education
- FIA (Fellow of the Institute and Faculty of Actuaries) or FCAS (Fellow of the Casualty Actuarial Society)
- Degree in Mathematics, Actuarial Science or any other scientific discipline (Statistics, Physics, etc.) or equivalence
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