Commercial Insurance Pricing and Portfolio Management Senior Actuary
The role consists of providing actuarial pricing and portfolio management support to the Chubb Overseas General (COG) Commercial Insurance (CI) Underwriting Team. They will be the actuarial lead for all CI and DCI (digital commercial insurance) actuaries.
The role-holder should be a strong leader with a knowledge of multi-line commercial digital/non-digital insurance, playing a pivotal role in shaping and informing this rapidly growing and transforming area of the business. They will be a key contributor to the direction of the pricing team and will be responsible for the management and delivery of pricing projects.
The role-holder will be expected to liaise closely with the pricing teams in each geographic region, the global catastrophe modelling unit, the ceded reinsurance team, the claims function, reserving and capital modelling teams.
The role reports to the Head of Pricing for COG (Property and Casualty), with a with a matrix to the Head of CI & Specialty, COG.
Key Requirements
1. Qualified actuary.
2. Significant experience in actuarial pricing.
3. Excellent communication skills.
4. Strong leadership and stakeholder management skills.
5. In-depth knowledge of multi-line digital insurance products and markets.
6. Proven ability to manage and deliver complex pricing projects.
7. Experience of working in a global or multi-regional environment is highly desirable.
Key Rating
The role consists of providing actuarial pricing and portfolio management support to the Chubb Overseas General (COG) Commercial Insurance (CI) Underwriting Team. They will be the actuarial lead for all CI and DCI (digital commercial insurance) actuaries.
The role-holder should be a strong leader with a knowledge of multi-line commercial digital/non-digital insurance, playing a pivotal role in shaping and informing this rapidly growing and transforming area of the business. They will be a key contributor to the direction of the pricing team and will be responsible for the management and delivery of pricing projects.
The role-holder will be expected to liaise closely with the pricing teams in each geographic region, the global catastrophe modelling unit, the ceded reinsurance team, the claims function, reserving and capital modelling teams.
The role reports to the Head of Pricing for COG (Property and Casualty), with a with a matrix to the Head of CI & Specialty, COG.
Key Requirements
Portfolio Management & Profitability Studies
8. Design and promote a best practice framework for portfolio monitoring.
9. Review regional capabilities, outcomes, and development roadmaps; provide feedback on gaps and suggest alternative solutions where appropriate.
10. Collaborate with COG management to establish the frequency and format for regular portfolio review meetings.
11. Work closely with underwriting management teams to formulate and implement strategies aimed at improving the profitability of the overall portfolio.
12. Conduct peer reviews of regional portfolio assessments to ensure consistency, accuracy, and adherence to best practices.
13. Investigate trends or changes in performance to identify shifts in profitability.
14. Carry out profitability studies to support the strategic aims of the business.
Planning
15. Oversee and coordinate the business planning process for CI by managing and aligning the activities of regional pricing teams.
16. Analyse Probable Maximum Loss (PML) requests as reflected in business plans to ensure alignment with risk appetite and strategic objectives.
Reporting
17. Assist in the production of regular management reports for rate change monitoring, price adequacy statistics, exposure trend and other ad hoc reports.
18. Design management information dashboards to enable data to be quickly queried to understand drivers of performance metrics.
19. Improve and enhance the quality of data being captured within the rating models and collated at a COG level.
20. Discuss COG wide trends with the regional actuarial / underwriting teams.
21. Implement best practice and minimum standards for KPIs.
Reserving
22. Monitor claims reserving levels, and reserves on major events.
23. Communicate movements in reserves to underwriting management teams to ensure timely and informed decision-making.
Reinsurance
24. Oversee the completion of reinsurance submissions for both internal and external
25. reinsurance arrangements, ensuring accuracy and timeliness.
26. Evaluate individual outwards external reinsurance purchases, including direct engagement and meetings with reinsurance brokers to support optimal reinsurance strategies.
27. Review RI premium allocations
Data and Analytics
28. Work with COG and regional data and analytics teams to implement best practices in modelling and data techniques.
29. Work with claims to help define the data roadmap to feed into underwriting decision-making tools.
30. Provide feedback to Chubb Group Risk Modelling Unit in order to help define the hurdle combined ratios.
31. Participate and present quarterly actuarial updates to the DCI Product Board.
32. Mentor and support the professional development of junior actuaries within the team.
33. Pursue ongoing education opportunities to enhance technical skills and maintain professional actuarial credentials.
Other
34. Provide feedback to Chubb Group Risk Modelling Unit in order to help define the hurdle combined ratios.
35. Participate and present quarterly actuarial updates to the DCI Product Board.
36. Mentor and support the professional development of junior actuaries within the team.
37. Pursue ongoing education opportunities to enhance technical skills and maintain professional actuarial credentials.
Knowledge:
38. Fellow of the Institute of Actuaries or equivalent.
39. Extensive knowledge of commercial insurance both digital / non-digital.
40. Knowledge of property, casualty, cyber, financial lines and marine insurance products.
Experience:
41. Minimum five years’ of hands-on pricing experience.
42. Demonstrated project management expertise and strong leadership skills, with a proven ability to lead teams and deliver complex projects.
43. A track record of successfully building and implementing pricing models and portfolio monitoring tools, particularly in digital insurance.
44. Proven ability to build and maintain effective working relationships with underwriters and senior management.