Reinsurance Pricing Analyst

Key Accountabilities & Role Requirements

•    Develop, review and enhance the pricing models for each line of business including price monitoring.
•    Support the underwriters to assess pricing adequacy on individual accounts both open market and binders.
•    Monitor Class and Business performance by assessing key pricing metrics against planned targets. Communicate findings and develop supporting pricing actions.
•    Utilise knowledge of the market to adapt pricing techniques in order to achieve organisational targets.
•    Develop rate change and price adequacy analysis by line of business, class and/or individual risk.
•    Build effective working relationships with the Underwriting department, providing training and support to underwriting teams where necessary.
•    Examine historic loss information (internal and external data) across the portfolios to enhance the performance of the accounts.
•    Contribute to the actuarial elements of the business planning process.
•    Enhance the parameterisation of the internal model.
•    Deliver high-impact, data driven insights through targeted actuarial analysis.
•    Drive and coordinate complex, cross-functional pricing initiatives and ensuring strategic value creation.

Skills & Competencies Required

•    Customer focus: Establishes partner relationship with stakeholders, especially senior underwriters. Visible & accessible to clients.
•    Communication: Communicates well one on one, in small groups and public speaking. Fluent, quick on feet, command of language. Keeps people informed. Writes clear, precise, well-organised documents using appropriate vocabulary, grammar & word usage.
•    Strategic skills – Determines opportunities & threats through comprehensive analysis of current & future trends. Comprehends the big picture.
•    Judgement / decision making: Consistent rationality & objectivity in decision making.
•    Flexibility: Respond to demand for actuarial support across the organisation.

Qualifications & Experience

•    Student Actuary of the Institute of Actuaries making good progress with CT exams.
•    2:1 in a highly numerate degree.
•    Grade A at A-Level Mathematics.
•    Minimum 2 years actuarial experience.
•    Good Excel, VBA and Access skills. 
•    Experience using R and SQL are desirable.

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.

Founded in 1848, Westfield is a global leader in property and casualty insurance, delivering superior risk insights and innovative solutions to customers through a diverse portfolio of insurance products. Westfield underwrites commercial, personal, surety, and specialty lines of coverage through a network of leading independent agents and brokers in the United States and specialty products through Lloyd’s of London Syndicate 1200. As a mutual insurance company with more than 3,000 employees, Westfield has revenues in excess of $4 billion and more than $10 billion in assets.