Senior actuarial analyst

Responsibilities

  • Achieve target loss ratio for portfolio
  • Ensure premiums are sufficiently competitive to enable portfolio growth
  • Manage the renewal premium journey for existing customers to achieve retention targets
  • Determine the ultimate claims cost for the portfolio

Job Duties

  • Undertake regular pricing reviews (split by segments and rating factors) to suggest rate changes
  • Carry out the testing and deployment process for RADAR premium models
  • Build and maintain risk models (e.g. claim frequency and severity)
  • Build and maintain customer behavior models (e.g. conversion and retention)
  • Undertake analysis to quantify the effects of adding (or removing) rating factors
  • Undertake vehicle and postcode group allocation reviews
  • Support quantitative requests from other departments (e.g. marketing)
  • Support development of new products
  • Train and support actuarial analysts by sharing knowledge and experience
  • Review and approve work completed by actuarial analysts (e.g. rate reviews, risk models)
  • Propose changes to the new business rating process (both for existing factors and new factors)
  • Propose changes to the renewal rating process for existing customers
  • Propose changes to the testing and deployment process for RADAR premium models

Requirements

  • Bachelor’s degree in a mathematical, actuarial, or other numerate subject
  • Communicates confidently in English in a business environment
  • Strong IT skills, including MS Excel
  • At least 2 years’ relevant work experience
  • Works logically and independently to break down and solve problems
  • Wants to learn new skills and will take on tasks that are outside of the job description
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