Commercial Pricing Actuary
To provide actuarial pricing advice and support to the business, and to ensure that the performance and profitability of agencies/single risk lines of business are regularly assessed from an actuarial perspective.
To support the Actuarial Manager in delivering pricing objectives for the team in line with the Company’s strategy and business plan.
To support the Actuarial Manager in other work where required, which may include reserving and business planning.
Establishment and maintenance of technical product pricing reviews for agency business, where appropriate
Develop, maintain and improve pricing and benchmarking models for single risk business, in close co-operation with underwriters
Review and assess actuarially new business proposals, including evaluation against group profit requirements
Implementation and regular production of Pricing MI to monitor performance of accounts
Recommend and implement enhancements to existing pricing data and processes, where appropriate
Provide actuarial advice, recommendations and solutions to colleagues for projects that will assist in implementing the organisations strategy.
Calculation of appropriate loss ratios and premium projections for use in the business planning cycle
Carry out quarterly reserve reviews for allocated classes, and recommend appropriate IBNR for the Company’s IFRS reserves
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