Location
Bangalore | India
Job description
About The Role
As a Pricing Actuary, analyzing the profitability of the business is key! We need to identify key drivers impacting the portfolio performance. We develop proposals in collaboration with business owners to mitigate gap between what has been costed against actual performance and ensuring the profitability of the book.
You will work with counterparts in Underwriting, Reserving, Claims and Finance to have a 360° view on and develop an independent Actuarial Pricing opinion on the portfolio's expected performance. We develop insights on trends and set parameters using Actuarial and Data Science techniques to improve the predictability and accuracy of costing models. You will have a direct impact in steering your portfolio and ultimately the overall Business Unit's performance.
About The Team The Actuarial Pricing APAC team comprised of a mix of expert members already entrenched in their dedicated product specialization and highly motivated newer members who thrive in a dynamic and fast learning environment. This team reports into the Chief Underwriting Officer and is part of the Global Actuarial Portfolio Management unit comprising two other regional pricing teams with the same regional directive of driving costing accuracy for Swiss Re Corporate Solutions.
Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work.
Main responsibilities
- Have a clear independent view on current pricing or loss adequacy driven by data analysis
- Collaborate with customers and team members to develop a pricing view in and represent and develop compelling recommendations
- Translate details into impactful Executive reports with effective communication
- Translate profitability findings into corrective actions on costing models and parameters.
- Build and maintain costing parameters and tools in accordance to Swiss Re Group standards and business needs.
- Use of actuarial and statistical models to find trends and insights that can be used for risk selection or differentiation, and costing improvements
- Model and price deal transactions.
About You - A minimum of 4 years of experience in P&C commercial insurance. Good knowledge of Property and Casualty products in APAC markets.
- 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.
- Familiarity 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.
- Exposure to market/LOB portfolio ownership, 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
- A person with highly developed numerical and analytical skills! Applying these skills using real business data to develop insights and practical solutions and to translate the quantitative work into effective visualizations for high impact communication.
- A good understanding of actuarial methods, models, and related business processes.
- Statistical programming skills (e.g. R, Phyton) and know-how of data science techniques is an advantage.
- 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 attention to detail is important, there is oversight on 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 priorities to complete plans to achieve high quality results on time.
- You work for the collective success of the team, take own initiative, are open and diligent; and demonstrate collaboration and intercultural competence. It is important to contribute towards a collaborative team spirit, sharing standard methodologies and insights and motivating the whole team to work together.
Educational level
- Master's degree in Mathematics, Statistics, Economics, or equivalent quantitative/ statistical fields
- Good progression towards actuarial qualifications/ Exams
About Swiss Re Corporate Solutions Swiss Re is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer. We anticipate and manage risks, from natural catastrophes and climate change to cybercrime.
Swiss Re Corporate Solutions is the commercial insurance arm of the Swiss Re Group. We offer innovative insurance solutions to large and midsized multinational corporations from our approximately 50 locations worldwide. We help clients mitigate their risk exposure, whilst our industry-leading claims service provides them with additional peace of mind.
Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. Swiss Re Corporate Solutions embraces a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.
Keywords Reference Code: 127722
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