Pricing Actuary
Beazley Group, West Hartford, CT, United States
Job Title
Pricing Actuary
Division Finance - Actuarial
Reports To Lead Pricing Actuary - Cyber & Executive Risks
Key Relationships Underwriters and business managers, Beazley actuaries, Claims managers, Data Management and Ceded Reinsurance teams, regulators, external actuaries, brokers.
Job Summary Actuarial pricing for the Cyber Risks Division and the Executive Risks classes (within the Specialty Risks Division) at Beazley.
Key Responsibilities
Provide pricing support to the Cyber & Executive Risks underwriting teams at Beazley; pricing support includes (as required):
Develop pricing tools that support the estimation of price adequacy and rate change
Perform portfolio and transactional pricing analyses
Perform segmental and trend analyses
Monitor performance (e.g., rate change and price adequacy metrics)
Develop, maintain, and review pricing models to the required standards
Contribute effectively to the production of the relevant reports required for any key committees where required
Provide training to underwriters in pricing; this includes technical pricing and rate change requirements
Understand and support underwriting controls related to pricing and regulatory principles
Understand and apply the pricing quality assurance process
Assist in other projects undertaken by the actuarial team (e.g., liability transfer valuations and business planning analyses)
Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives
Build technical pricing skills and experience
Provide support and mentoring to the junior members of the team
Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
Build and maintain constructive working arrangements with key groups identified as being essential to the role
Work with underwriters, exposure management, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of data used for pricing; ensure necessary data is captured from pricing tools to enhance future pricing capabilities
Maintain pricing model documentation with required frequency, obtaining the appropriate managerial sign-offs
Identify opportunities and contribute to delivering improvements in the pricing processes and methodologies
Undertake professional, technical and career development training (delivered internally and externally); this includes pursuing the actuarial qualification where applicable
Personal Specification Essential Criteria
Actuarial qualification
Pricing experience; with specialty (re)-insurance market knowledge desirable
Firm grasp of actuarial / statistical techniques used in pricing
Understanding of reinsurance and capital with application to pricing
Education and Qualifications
University degree in Mathematics or related field
Skills and Abilities
General commercial and financial knowledge
Competent user of MS Excel; VBA, Access, Python, SQL and R skills desirable
Strong analytical skills with attention to detail; accurate and numerate
Able to communicate effectively both verbally and in writing
Team worker as well as able to work on own initiative
Ability to manage time, meet deadlines and prioritise
Aptitude and Disposition
Outcome focused, self-motivated, flexible and enthusiastic
Professional approach to successfully interact with team members, internal and external stakeholders
Competencies
Achievement and solution focused
Analytical
Information seeking
Stakeholder focus
Using initiative
Having integrity
Taking responsibility
Attention to detail
The Rewards UK
The opportunity to connect and build long‑lasting professional relationships while advancing your career with a growing, global organization.
Attractive base compensation and discretionary performance related annual bonus
Private medical insurance coverage for both you and your dependents
Company paid life assurance and long‑term disability insurance
Pension with 10% employer contribution, plus a further matched contribution up to 2.5%
25 days of annual leave (prorated for 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your beliefs, subject to approval.
Additional annual leave purchase available up to a maximum of five additional days per year.
Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long‑term care need annually.
Up to 550 reimbursement towards home office setup
Free in‑office lunch and monthly lifestyle allowance
Monthly travel allowance or annual season ticket
The opportunity to save for, and purchase, shares of Beazley stock
Six months fully paid parental leave, regardless of how you come to parenthood
Company paid sabbatical up to 12 weeks after 10 years of continued service
Support with exam/study leave and fees for relevant qualifications related to furthering education
Smart working policy and flexible working culture, trusting employees to do what works best.
The Rewards US
The opportunity to connect and build long‑lasting professional relationships while advancing your career with a growing, dynamic organization
Attractive base compensation and discretionary performance related bonus
Competitively priced medical, dental and vision insurance
Company paid life and short‑ and long‑term disability insurance
401(k) plan with 5% company match and immediate vesting
22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your beliefs
Up to $700 reimbursement for home office setup
Free in‑office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
Up to 26 weeks of fully paid parental leave
Up to 2.5 days paid annually for volunteering at a charity of your choice
Flexible working policy, trusting employees to do what works best and their teams
Salary for this role will be tailored to the successful individual's location and experience. The expected compensation range for this position is $134,000 - $157,000 per year plus discretionary annual bonus.
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Division Finance - Actuarial
Reports To Lead Pricing Actuary - Cyber & Executive Risks
Key Relationships Underwriters and business managers, Beazley actuaries, Claims managers, Data Management and Ceded Reinsurance teams, regulators, external actuaries, brokers.
Job Summary Actuarial pricing for the Cyber Risks Division and the Executive Risks classes (within the Specialty Risks Division) at Beazley.
Key Responsibilities
Provide pricing support to the Cyber & Executive Risks underwriting teams at Beazley; pricing support includes (as required):
Develop pricing tools that support the estimation of price adequacy and rate change
Perform portfolio and transactional pricing analyses
Perform segmental and trend analyses
Monitor performance (e.g., rate change and price adequacy metrics)
Develop, maintain, and review pricing models to the required standards
Contribute effectively to the production of the relevant reports required for any key committees where required
Provide training to underwriters in pricing; this includes technical pricing and rate change requirements
Understand and support underwriting controls related to pricing and regulatory principles
Understand and apply the pricing quality assurance process
Assist in other projects undertaken by the actuarial team (e.g., liability transfer valuations and business planning analyses)
Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives
Build technical pricing skills and experience
Provide support and mentoring to the junior members of the team
Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
Build and maintain constructive working arrangements with key groups identified as being essential to the role
Work with underwriters, exposure management, claims managers, Data Management and Ceded Reinsurance to ensure the quality and appropriateness of data used for pricing; ensure necessary data is captured from pricing tools to enhance future pricing capabilities
Maintain pricing model documentation with required frequency, obtaining the appropriate managerial sign-offs
Identify opportunities and contribute to delivering improvements in the pricing processes and methodologies
Undertake professional, technical and career development training (delivered internally and externally); this includes pursuing the actuarial qualification where applicable
Personal Specification Essential Criteria
Actuarial qualification
Pricing experience; with specialty (re)-insurance market knowledge desirable
Firm grasp of actuarial / statistical techniques used in pricing
Understanding of reinsurance and capital with application to pricing
Education and Qualifications
University degree in Mathematics or related field
Skills and Abilities
General commercial and financial knowledge
Competent user of MS Excel; VBA, Access, Python, SQL and R skills desirable
Strong analytical skills with attention to detail; accurate and numerate
Able to communicate effectively both verbally and in writing
Team worker as well as able to work on own initiative
Ability to manage time, meet deadlines and prioritise
Aptitude and Disposition
Outcome focused, self-motivated, flexible and enthusiastic
Professional approach to successfully interact with team members, internal and external stakeholders
Competencies
Achievement and solution focused
Analytical
Information seeking
Stakeholder focus
Using initiative
Having integrity
Taking responsibility
Attention to detail
The Rewards UK
The opportunity to connect and build long‑lasting professional relationships while advancing your career with a growing, global organization.
Attractive base compensation and discretionary performance related annual bonus
Private medical insurance coverage for both you and your dependents
Company paid life assurance and long‑term disability insurance
Pension with 10% employer contribution, plus a further matched contribution up to 2.5%
25 days of annual leave (prorated for 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your beliefs, subject to approval.
Additional annual leave purchase available up to a maximum of five additional days per year.
Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long‑term care need annually.
Up to 550 reimbursement towards home office setup
Free in‑office lunch and monthly lifestyle allowance
Monthly travel allowance or annual season ticket
The opportunity to save for, and purchase, shares of Beazley stock
Six months fully paid parental leave, regardless of how you come to parenthood
Company paid sabbatical up to 12 weeks after 10 years of continued service
Support with exam/study leave and fees for relevant qualifications related to furthering education
Smart working policy and flexible working culture, trusting employees to do what works best.
The Rewards US
The opportunity to connect and build long‑lasting professional relationships while advancing your career with a growing, dynamic organization
Attractive base compensation and discretionary performance related bonus
Competitively priced medical, dental and vision insurance
Company paid life and short‑ and long‑term disability insurance
401(k) plan with 5% company match and immediate vesting
22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your beliefs
Up to $700 reimbursement for home office setup
Free in‑office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
Up to 26 weeks of fully paid parental leave
Up to 2.5 days paid annually for volunteering at a charity of your choice
Flexible working policy, trusting employees to do what works best and their teams
Salary for this role will be tailored to the successful individual's location and experience. The expected compensation range for this position is $134,000 - $157,000 per year plus discretionary annual bonus.
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