Property Pricing Actuary
AXIS Capital is a global provider of property and casualty lines insurance and reinsurance, known for outstanding client service, intelligent risk taking, and a disciplined corporate culture.
All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.
About the role
This role will focus on supporting the Global Markets property units covering Global Property, Construction (Open Market, Construction Plant and Equipment and Binders), and Property Binders (UK, North America and International). AXIS writes worldwide property business on both syndicate and company paper. The role offers the opportunity to get involved in cross‑divisional pricing initiatives and work alongside different areas of the business.
The position reports directly to the Global Markets Property Pricing Lead and provides an opportunity to manage end‑to‑end pricing and portfolio management processes within a high‑performing pricing team.
Responsibilities
- Work closely with underwriters and other actuaries to scope, build, develop, document and maintain rating models and methods; train and support around best practice model use.
- Develop referral criteria for actuarial review of pricing deals based on premiums, strategic importance and/or historic performance of individual deals.
- Provide actuarial pricing recommendations regarding risk selection, contract structure, coverage and pricing for individual deals.
- Collaborate with other actuaries and data & analytics teams to deliver on longer‑term goals relating to upgrading databases, dataflows and analytical output.
- Take ownership of data and related queries within the open market and facilities units and drive improvements and efficiencies as appropriate.
- Monitor the quality and accuracy of rate monitoring data produced by rating models and/or transactional case pricing.
- Contribute to detailed product monitoring and segmental reviews within classes of business to objectively assess profitability and provide evidence‑based conclusions and recommendations for strategic changes, underwriting actions and portfolio optimisation.
- Contribute to the business planning process to derive CAT and xCAT loss picks for property units to assess potential profitability of the portfolio in the coming year.
- Monitor the execution of underwriting actions and strategy implementation, assessing the impact of these on the account’s profile and emerging claims experience.
- Maintain the feedback loop (control cycle) and provision of information and analysis between the pricing, reserving, capital modelling and business planning processes.
- Get involved in ad hoc queries and requests that arise on property units from Management, UWs, Reinsurance and Reserving Teams.
You may also be required to take on additional duties, responsibilities and activities appropriate to the nature of this role.
Qualifications
We encourage you to bring your own experience and expertise to the table. While there are some required qualifications, we are open to discussing how your individual knowledge might lend itself to fulfilling this role and help us achieve our goals.
What you need to have
- 4+ years experience in a general insurance actuarial role; consultancy or company.
- London Market and pricing background highly desired.
- First class or 2:1 university degree with a background in a quantitative subject e.g. Mathematics, Actuarial and/or Engineering.
- Fellow of the Institute & Faculty of Actuaries or equivalent professional body; strong track record of progress in actuarial examinations to date.
- Competent user of Excel, Word and PowerPoint.
- Good understanding of the standard reserving and pricing methods used in the London Market for open market and delegated authority business, how the London market operates and the key issues and trends.
- Thoroughness, attention to detail, and strong numeracy skills.
- Keen to further technical and market knowledge through own research and CPD/PPD.
What we prefer you to have
- Exposure to coding languages such as R or Python.
- Experience in pricing model development.
- Experience with Power BI to create dashboards.
- Knowledge of application of AI/Machine Learning application to insurance industry.
Role Factors
In this role, you will typically be required to:
- Be in the office 3 days per week and as per business needs.
What we offer
You will be eligible for a comprehensive and competitive benefits package which includes medical plans for you and your family, health and wellness programmes, retirement plans, tuition reimbursement, paid annual leave, and much more.
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