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Actuarial Pricing Analyst - Casualty

Date: Sep 14, 2021

Location: London, GB

Company: SCOR

     EMEA     

London United Kingdom (GB) 

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Actuarial Pricing Analyst - Casualty 

Permanent 

Actuarial 

 

 

          About SCOR         

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Using its experience and expertise, “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health insurance as well as in P&C insurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.

 

Job Summary
The job holder will be a member of the SGP&C Specialty Insurance Single Risks Pricing team supporting business written by SCOR Business Solutions (SBS) and Channel Syndicate with particular focus on Casualty Lines. The work includes day to day case pricing, working with Underwriters and the Specialty Insurance Methods and Tools team on developing and maintaining pricing models, providing analyses and management information reports.


Key duties and responsibilities
Pricing key individual accounts: 

  • Analyse and pricing of individual casualty single-risk accounts typically with complex features or high premium
  • Provide assistance to Portfolios Team during busy periods (such as the 01-Jan renewal season) by pricing binder accounts. 
  • Ensure that all accounts priced adheres to appropriate pricing peer review process as defined in Pricing Policy and Rate Monitoring Framework.
  • Develop, test, and maintain pricing tools
  • Develop and enhance direct & facultative Casualty pricing tools in conjunction with Underwriters, Underwriting Management, CTO and the Methods and Tools team. 
  • Ensure pricing models are appropriately calibrated and used correctly by Underwriters, including rate change calculation. 
  • Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis)
  • Portfolio analysis, planning and parameterisation: 
  • Review the profitability of portfolio (deep-dive) by considering combined ratios, rate levels, inflationary effects and class of business mix for Specialty Insurance and legal entities
  • Development and maintenance of dashboards and various management information. 


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


Reporting: 

  • Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.
  • Any other ad-hoc reporting requirements


Required experience & competencies
Experience: 

  • Some pricing experience in P&C insurance with recent Lloyd’s / London Market experience is desirable. (Personal Lines background or someone from reserving /capital will also be considered) 
  • Have previous experience pricing Umbrella and Excess Casualty, General Liability for all industries (inc. Energy). Exposure to Directors and Officers (D&O), Errors & Omissions (E&O), Environmental Liability and other Professional Liability Lines of business is a plus
  • Good working knowledge of capital modelling and reserving processes and techniques is advantageous. 
  • Strong analytical skills and ability to manipulate or handle large datasets
  • Significant experience using R, Python, R-Shiny, or any other programming languages in commercial environment


Personal Competencies:

  • Effective communication and collaboration skills with excellent interpersonal verbal and written skills that enables the candidate to communicate with colleagues from non-actuarial team
  • Stays up to date with new/emerging knowledge in actuarial pricing as well as in respect of major market and underwriting related issues. 
  • Has a commercial outlook but with a principled stand where required and contributes to create viable and innovative solutions that outperform competitors and differentiates SCOR.
  • Required Education and Qualification 
  • Part qualified / student actuary from a recognised actuarial organisation 
  • Degree in Mathematics, Actuarial Science, other scientific discipline (statistics, physics, etc.), or Finance
     

 

Please contact your HR team should you have any question.