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 across certain single-risks lines of business.
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
Develop, test, and maintain pricing tools
Enhance direct & facultative pricing tools for certain SBS and Channel Syndicate lines of business 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.
Drive consistency in pricing across both SBS and Channel Syndicate
Maintenance of existing pricing tools including technical documentation / specifications
Pricing key individual accounts :
Analyse and pricing of individual accounts typically with complex features or high premium
Provide assistance to the EMEA 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.
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 CAT systems development, underwriting projects (developing pricing requirements, systems testing, etc.
or any other ad-hoc projects
Quarterly monitoring and feedback of Base Model vs Technical Premium by Class of Business plus pricing strength (adequacy) against the long-term profitability targets.
Any other ad-hoc reporting requirements
Training and sharing of knowledge with Specialty Pricing & Modelling Team and other Stakeholders
Provide training to underwriters on any pricing related topics
Shares know how and technical knowledge with member of pricing and modelling team
Required experience & competencies
Proven pricing experience in P&C insurance with recent Lloyd’s experience.
Have previous experience pricing Fine Art, Specie, Property, Environmental Liability and Cyber
Good working knowledge of CAT Modelling Tools and Systems, capital modelling and reserving processes
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 and to gain buy-in from Stakeholders
Has excellent technical capabilities in actuarial pricing and provides predictable and high-quality service to Underwriters and other Stakeholders
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
Qualified actuary (or nearly qualified) from a recognised actuarial organisation
Degree in Mathematics, Actuarial Science, other scientific discipline (statistics, physics, etc.), or Finance