Senior Analyst I - Actuarial Pricing

Purpose of Role 

The Pricing & Portfolio Insights analyst is an integral role within our insurance company, responsible for utilizing sophisticated techniques, such as Generalized Linear Models (GLMs) or more advanced statistical techniques, to develop, calibrate, and implement predictive technical models for pricing and portfolio management purposes. The position requires strong knowledge of actuarial concepts, statistical models, and the ability to provide data-driven insights to support strategic decision-making.

The role is responsible for conducting robust quantitative and statistical analysis of our insurance product offerings and portfolio. It involves analysing complex datasets to identify trends, patterns and insights that serve to improve product performance, optimize portfolio management, and inform strategic decision-making.

In this pivotal role, the Pricing & Portfolio Insights Actuary will collaborate closely with various stakeholders including Underwriting, Actuarial, Risk Management, and the Executive Team in driving evidence-based decisions, promoting profitability, and enabling efficient portfolio management.

Key Accountabilities & Responsibilities

• Develop, calibrate, and implement technical models using GLMs and more advanced statistical techniques, incorporating relevant variables and factors for accurate pricing and risk assessment.
• Analyse historical insurance data to identify patterns and trends, and determine the impact of various factors on the models.
• Conduct rate level reviews to ensure appropriate pricing of insurance products, considering risk exposure, market dynamics, and profitability goals.
• Collaborate with cross-functional teams to understand business objectives and identify areas where data-driven solutions can drive revenue, growth, renewals, and/or claims efficiency.
• Enhance technical models over time by incorporating new data sources, refining variables, and exploring innovative modelling techniques.
• Evaluate the impact of pricing strategies, policy changes, and market shifts on portfolio performance, and make recommendations for adjustments, if needed.
• Present findings and recommendations to stakeholders, including senior management and underwriting teams, in clear and concise reports and presentations.
• Work closely with other departments including Underwriting, Claims, Actuarial, Finance, and Risk Management, providing them with the data and insights needed to make evidence-based decisions.

Skills & Experience 

• Bachelor’s degree (or equivalent) degree in a quantitative field such as Actuarial Science, Statistics, or Mathematics.
• 3+ years of related practical experience, preferably in the commercial insurance sector.
• Showing good exam progress under one of the Actuarial Societies is preferred.
• Strong proficiency in statistical modelling techniques, specifically GLMs, and experience with software tools like R or Python.
• Solid understanding of insurance pricing principles, loss reserving, and risk assessment methodologies.
• Familiarity with insurance industry regulations, standards, and best practices.
• Excellent analytical and problem-solving skills, with the ability to translate data into meaningful insights and recommendations.
• Strong communication skills to effectively convey complex findings and recommendations to both technical and non-technical stakeholders.
• Attention to detail and ability to work independently, managing multiple projects and deadlines efficiently.
• Proficiency with data analysis and visualisation tools and platforms will be an added advantage, preferably QlikView/Qliksense, Power BI, etc.

Purpose of Role 

The Pricing & Portfolio Insights Analyst is an integral role within our insurance company, responsible for utilizing sophisticated techniques, such as Generalized Linear Models (GLMs) or more advanced statistical techniques, to develop, calibrate, and implement predictive technical models for pricing and portfolio management purposes. The position requires strong knowledge of actuarial concepts, statistical models, and the ability to provide data-driven insights to support strategic decision-making.

The role is responsible for conducting robust quantitative and statistical analysis of our insurance product offerings and portfolio. It involves analysing complex datasets to identify trends, patterns and insights that serve to improve product performance, optimize portfolio management, and inform strategic decision-making.

In this pivotal role, the Pricing & Portfolio Insights Actuary will collaborate closely with various stakeholders including Underwriting, Actuarial, Risk Management, and the Executive Team in driving evidence-based decisions, promoting profitability, and enabling efficient portfolio management.

Key Accountabilities & Responsibilities

• Develop, calibrate, and implement technical models using GLMs and more advanced statistical techniques, incorporating relevant variables and factors for accurate pricing and risk assessment.
• Analyse historical insurance data to identify patterns and trends, and determine the impact of various factors on the models.
• Conduct rate level reviews to ensure appropriate pricing of insurance products, considering risk exposure, market dynamics, and profitability goals.
• Collaborate with cross-functional teams to understand business objectives and identify areas where data-driven solutions can drive revenue, growth, renewals, and/or claims efficiency.
• Enhance technical models over time by incorporating new data sources, refining variables, and exploring innovative modelling techniques.
• Evaluate the impact of pricing strategies, policy changes, and market shifts on portfolio performance, and make recommendations for adjustments, if needed.
• Present findings and recommendations to stakeholders, including senior management and underwriting teams, in clear and concise reports and presentations.
• Work closely with other departments including Underwriting, Claims, Actuarial, Finance, and Risk Management, providing them with the data and insights needed to make evidence-based decisions

Skills & Experience 

• Bachelor’s degree (or equivalent) degree in a quantitative field such as Actuarial Science, Statistics, or Mathematics.
• 3+ years of related practical experience, preferably in the commercial insurance sector.
• Showing good exam progress under one of the Actuarial Societies is preferred.
• Strong proficiency in statistical modelling techniques, specifically GLMs, and experience with software tools like R or Python.
• Solid understanding of insurance pricing principles, loss reserving, and risk assessment methodologies.
• Familiarity with insurance industry regulations, standards, and best practices.
• Excellent analytical and problem-solving skills, with the ability to translate data into meaningful insights and recommendations.
• Strong communication skills to effectively convey complex findings and recommendations to both technical and non-technical stakeholders.
• Attention to detail and ability to work independently, managing multiple projects and deadlines efficiently.
• Proficiency with data analysis and visualisation tools and platforms will be an added advantage, preferably QlikView/Qliksense, Power BI, etc.