Property & Casualty Pricing Actuary
- Recruiter
- Zurich Insurance
- Location
- Farringdon
- Posted
- 13 Aug 2018
- Closes
- 14 Sep 2018
- Job role
- Accountant
- Sector
- Accounting - Public practice
Location: London
Who we are:
Zurich is one of the world’s leading financial services groups, and one of the few to operate on a global basis. Through our three core business segments we offer general insurance, life insurance, savings and investment products and solutions to individuals, small and medium sized companies and global corporations around the world. With about 60,000 employees serving customers in more than 170 countries, we aspire to become the best global insurer as measured by our shareholders, customers and employees.
The Opportunity:
As a core member of the UK P&C Pricing team, drive the development, implementation and maintenance of Technical Price, actuarial standards and tools in Casualty, Property, Energy & Construction portfolio’s in the UK. This comprises EL, PL, Property, Energy Offshore, Energy Onshore, Energy Casualty, Construction and Engineering coverages across the commercial insurance business.
Key Responsibilities
- Drive profitable growth through delivery of strategic insight through the business performance management
- P&C Technical and Market UW team members to share knowledge, develop and manage day to day priorities
- Business Insights team for development and maintenance of portfolio monitoring frameworks, tiering processes and input to GPR etc
- Collaboration across European Region to leverage other BU’s skills and expertise
- Drive the capture of granular data suitable for the continuous pricing improvement process.
- Ensure the delivery of high quality actuarial service to the business by providing support and technical expertise as needed
- Drive the accuracy and integrity of Technical Price through proactive participation in TPC’s, the analysis and tracking of TP KPIs, peer reviews and participation in TURs
- Enhance the Zurich brand, market opportunities, and profitable growth through supporting the pricing and rating of new/revised products and propositions
- Working closely with the P&C Technical UW team, P&C Market UW team, and the Head of P&C Pricing you will:
- Deliver the UK pricing strategy for the P&C LOBs
- Play an integral part in driving TPC activity for the UK P&C LOBs
- Lead the development of pricing tools for P&C LOBs, in conjunction with other UK pricing team members and with Technical and Market UW teams
- Own the framework for updating TP parameters and conducting rate reviews in P&C LoBs
- Conduct profitability analyses across the P&C LOBs including the Virtuous Circle and GPR
- Provide necessary pricing, reinsurance analysis, and product analysis for the P&C LOBs.
Technical Price
- Continuous development of TP standards, methodology and sophistication including R&D
- Performing regular TP maintenance and reviews (at least annually)
- Support transactional case pricing activity, including customer-facing activities for large/complex cases.
- Leading TPC improvement in P&C portfolios
- Ensuring GUG compliance from a pricing perspective
- AP/TP reconciliation, policy level vs portfolio level
Performance and Portfolio Management
- Support development of P&C pricing strategy
- Analysis of quarterly packs of portfolio level metrics
- Development and monitoring of exposure monitoring framework
- Monitoring implementation of strategy related to underwriting portfolio performance and re-underwriting using appropriate methods
- Support development and implementation of appropriate action plans to support enhanced profitability
- Support growth initiatives