Pricing Actuarial Analyst

Amstelveen | full-time

The purpose of this role is to support the Head of Underwriting Management & Pricing in meeting the analytical and pricing requirements for the P&C business within MS AISE.

The MS AISE P&C Technical Pricing team has 7 people, providing coverage for all P&C businesses within the Europe subdivisions. This corresponds to approximately €670m of gross net premium. The successful candidate will share responsibility across these regions with a particular focus on The Netherlands, but also in support of the other countries where needed (Belgium, France and UK).

He/she will be involved in providing data-driven analytics and insights to the business while levering statistical methods, actuarial science, data science and technologies and in the development of pricing models based on these analytics. He/she will provide support to the respective underwriting teams.

Key Result Areas and Deliverables

• Develop a strong working relationship with the actuarial team and his management, underwriters, claims and Underwriting Management within MS AISE P&C
• Support the development and deployment of pricing models and ensure that models comply with the Technical Pricing Framework (“TPF”) and Pricing Policy;
• Foster innovation by leveraging data insights, and develop inference and predictive analytics by utilizing statistical models, machine learning and AI solutions.
• Explore and analyse external data in different areas (building characteristics, corporate information, climate data, environmental data,…) to improve our data-driven solutions and analytical models;
• Support, coach and advise underwriters in actuarial & technical issues, including case pricing, data analytics, renewal monitoring, Expected Loss Cost calculations and business planning, challenging where appropriate;
• Support the business and underwriters on other actuarial related matters such as reserving and Internal Model parameterisation which are performed by other actuarial teams;
• Work with management to monitor the performance of the business, for example in the Class Performance Reviews giving an independent opinion on the quality of the risks written and by improving business performance through portfolio analysis;
• Maintain and develop management information available for analysis and reporting;
• Provide requirements and lead development of insights hub and eventually own the insights hub product owner
• Liaise with other functions within the company such as Catastrophe Modelling and Group Underwriting Modelling when required;

The Operating Environment and Context of the Job

Within the framework of our Pricing Transformation initiative, the Pricing actuaries will collaborate with underwriters and other stakeholders across MS AISE to develop the pricing models. In parallel, the Insights Hub is developed with the objective to empower MS AISE with data-driven decisions through actionable insights and analytics. This involves leveraging data, technology and advanced analytics to enhance our pricing strategies, improve risk assessment and refine pricing accuracy and competitiveness.

Further to the above, a significant proportion of the role will be on providing services to the Management and Underwriting teams on pricing and analytical matters.

The role requires a good knowledge of actuarial pricing techniques, in particular on the following classes:

Liability

Fire

Motor Fleet

Engineering

The drive to advance pricing in these classes is essential, along with the communication skills required to support underwriters through the changes.

It also requires a good knowledge, understanding and experience in data and analytics techniques, in particular on GLMs and machine learning techniques (boosting, random forest, clustering, etc.).

Key Competencies

Generic

• Good interpersonal skills

• Good communication skills in Dutch and English (both oral and written)

• Ability to work well under pressure

• Attention to detail and ability to self-check work – analytical mindset

• Proactive, flexible and adaptable

• Experience in being challenged and defending own views and position

• Entrepreneurialism and ownership

Job Specific

• Actuarial Pricing background and Experience (in P&C)

• Proficiency in data analysis techniques

• Knowledgeable and experienced with statistical and ML predictive models

• Statistical and predictive advanced modelling Experience

• Experience in European underwriting classes and environment

• Advanced knowledge of Excel (including VBA)

• Advanced knowledge of Python or R

• Experience in SQL and/or SAS is an advantage

Key Interfaces

• The primary interfaces of this role are with the P&C Management and Underwriting teams. The successful candidate will be a point of contact for pricing model and actuarial matters for their areas of responsibility;
• Important interfaces within the Technical Pricing team for peer review and cross division collaboration;
• Liaison with P&C Underwriting Management and Group Underwriting as and when required;
• Willingness to travel occasionally between Amstelveen, Brussels, Antwerpen, Paris, London and Chelmsford (UK)