Actuarial – Pricing Analyst at Bryte Insurance Company Limited

Job Summary

The Bryte Insurance Pricing Team services all short term insurance market segments for the company, i.e. Commercial, Personal Lines and Corporate. We price all lines of business, e.g. property, motor, engineering, transport, liability, etc.

We are looking for suitable candidates to join our STI pricing team. The team develops its members to become STI pricing specialists, whereby they learn to set, monitor and maintain a short term insurer's pricing bases and review pricing on large accounts, UMAs and other insurance partners. Ultimately the incumbent will combine analytical prowess, in depth underwriting acumen and communication skills to influence and direct business activity.

Experience would determine where the start their learning. We cover all aspects of the short term insurance pricing problem, e.g. rules engine development and maintenance, loss ratio and pricing basis performance monitoring, per peril pricing basis reviews using GLM and other techniques, as well as maintain and benchmark large commercial risk pricing bases. Techniques range from deterministic to stochastic.

Software exposure that would be gained in our area includes. Microsoft Office Excel, Word, VBA programming, Data wielding using SAS, Modelling software from Willis Towers Watson, i.e. Emblem, Classifier and Radar, Geo-spatial analytical software from GRIP, i.e. SpatialKey, DuckCreek Rules Engine, Qlikview, etc.

We typically employ actuarial students from CT level to qualified actuaries. We through effective project planning and management are able to adhere to and fully support Bryte Insurance's Actuarial Study Policy. In terms of this study policy significant financial and study leave support is afforded students. The Bryte actuarial community services the business in the areas of Claims Analytics, Pricing, Capital and Reserving. Claims Analytics. The Pricing team reports into the Chief Underwriting Officer, while Capital and Reserving report into the Chief Financial Officer.

Key Tasks and Accounatbilities

General

• Provide pricing services with minimal supervision by a more experienced team member.
• Perform analyses as assigned under the supervision of a more experienced team member.
• Gain and demonstrate increasing mastery of relevant pricing disciplines and procedures.
• Actively pursue actuarial qualification and achieve regular progress in exams.

Pricing specific

• Run, check and maintain monthly data builds as input to various analyses using SAS.
• Help maintain and develop rating tools, templates and rules engines, including testing of new pricing bases deployed.
• Analyse and report on various price monitoring aspects, e.g. loss ratios, rate changes, price strength ratios, quote success ratios, claims process, etc.
• Take part in pricing projects, i.e. learn to build, calibrate and fit GLM pricing models.
• Produce analyses and reports informing renewal targets and processes.
• Develop and expose new data sources
• Develop and publish dashboards

Business Support Ad Hoc

• Perform claims analytics and reports
• Perform data analytics and/or reinsurance analyses
• Analyse operational data to inform decisions and behaviours
• Analyse economic indicators for trends and set assumptions
• Develop and help productionalise new data sources
• Resolve pricing related queries from business

Relationships

• Actuarial Committee Representative
• Pricing Manager
• Underwriting
• Claims
• Finance
• Peers within team

Qualifications

• University degree in Actuarial Science or a related field.
• Evidence significant exam progress towards qualifying as an actuary

Experience & Skills:

• Proficiency in English
• Effective intermediate oral and written communication, interpersonal skills (Report writing and presentation experience an advantage)
• Ability to extract and summarise data (strong SAS skills, Advanced certificate an advantage)
• Ability to program (VBA experience advantageous, Python is attractive)
• Understanding of Business Intelligence principles (ETL and reporting concepts)
• Understanding of Actuarial database/cube
• Ability to extract and summarise data (SAS experience advantageous)
• Ability to program (VBA experience advantageous)
• Analytical ability (Pricing specific an advantage)
• Statistical modelling experience (Actuarial pricing specific an advantage)
• Project management experience and advantage
• Short term insurance specific work experience advantageous

Behaviours:

• Energetic problem solver
• Professional and disciplined
• Able to meet deadlines and work under pressure
• Client focussed and delivery orientated
• Collaborative team player
• Succinct attention to detail and accuracy