AVP - Pricing Actuary - P&C Commercial Insurance

About the role

As Pricing Actuary, you will be responsible for analyzing the profitability of your assigned line of business. You will be responsible to identify drivers to portfolio performance and develop proposals to senior leaders to mitigate gap between what has been costed against actual performance. You will work with counterparts in Underwriting, Reserving, Claims and Finance to have a 360 view on your portfolio and develop an independent Actuarial Pricing opinion on the portfolio's expected performance. You will use actuarial methods and data science techniques to develop insight on trends and set parameters to improve the predictability and accuracy of costing models. You will have a direct impact in steering the profitability of your portfolio and ultimately the overall Business Unit's performance.

Main responsibilities

Profitability Studies

- Have a clear independent view on current pricing or loss adequacy driven by data analysis.

- Present pricing view in stakeholder (Underwriting, Reserving, Claims and Finance) meetings and develop compelling recommendations

- Translate details into impactful Executive reports with effective communication

Costing Accuracy and Data Analytics

- Translate profitability findings into corrective actions on costing models and parameters.

- Develop and maintain costing parameters and tools in accordance to standards and business needs.

- Use actuarial and data science techniques to develop insights and trends that can be used for risk selection or differentiation; and costing improvements

- Model and price deal transactions.

Professional experience

- A minimum of 4 years of experience in P&C commercial insurance. Good knowledge of Property and Casualty products in APAC markets.

- You have experience in commercial insurance pricing, portfolio profitability analysis and costing model and tool development. Know-how of reinsurance treaty pricing would be an additional advantage.

- You are familiar with reserving techniques and can confidently operate between the two (reserving and costing) views, sufficiently identifying parallels and divergences in developing an independent costing assessment.

- You have market/LOB portfolio ownership experience, acting as a go-to person for quantitative questions and solutions, but also comfortable to be both an advocate and a provider of dissenting opinions.

Technical skills

- You have highly developed numerical and analytical skills. You have applied these skills using real business data to develop insights and practical solutions. You can translate your quantitative work into effective visualizations for high impact communication.

- You have a good understanding of actuarial methods, models and related business processes.

- You have statistical programming skills (e.g. R, Python). Know-how of data science techniques would be an advantage.

- You can review analytical results, derive recommendations and communicate implications to all partners- from peers to senior leaders.

- Able to challenge and defend assumptions, methods and conclusions. Evaluate accuracy and uncertainty in models, according to the available data/information at hand.

- Whilst you have the attention to detail, you can see the bigger picture, focusing efforts on areas or solutions that would have the highest impact.

Personal Leadership Skills

- You are independent and accountable - and have the skill to organize the priorities to execute on plans to achieve high quality results on time.

- You work for the collective success of the team, take own initiative, are open and dependable; and demonstrate collaboration and intercultural competence. It is important that you can contribute towards a collaborative team spirit, sharing best practices and insights and motivating the whole team to work together.

- You can articulate your work and channel your communications accordingly to various situations (advocating vs. dissenting) and be comfortable in presenting and defending your work to senior leaders.

Educational level

- Master's degree in Mathematics, Statistics, Economics or equivalent quantitative/ statistical fields