Actuarial Pricing Analyst – Aviation

AXIS Capital

Actuarial Pricing Analyst – Aviation

AXIS Capital

Brussels, Belgium

Business Title: Pricing Actuary Aviation Division (Aviabel and London)
Department: Actuarial - Pricing, AXIS International Insurance

Job Summary

The AXIS International Insurance pricing team is led by the Chief Pricing Actuary, with a number of senior pricing actuaries aligned with the divisional underwriting structure, providing embedded support to the underwriting function. The team provides analytical capability in respect of all property and specialty business written in our six divisions (Property; Marine, Credit & Political and Offshore Energy; Aviation; Renewable Energy, Casualty and Professional Lines; and Cyber) - through both Lloyd’s Syndicate 1686 and the AXIS Specialty Europe insurance company.

The pricing and exposure modelling of all Property business written within AXIS Insurance (US and International) is managed through a London-based product line function.

This role will focus on our Aviation division, which writes general aviation, airlines, aerospace, products liability and terrorism (AV52) on the open market and also through facilities & MGAs. The business is written through two platforms; specialist European writer Aviabel, and the London branch of AXIS Specialty Europe. It is based at the Aviabel head office in Brussels though the scope also extends to supporting the analytics, pricing models and processes for the London aviation book. Some occasional mid-week travel to London will be required.

  • AXIS will provide study support for the completion of actuarial examinations (if relevant).

Key Responsibilities

The pricing team within the International Division at AXIS Insurance has responsibility for the following:

  • Working closely with underwriters to develop rating models and methods, communicating and explaining the output from pricing tools, and reviewing the pricing and structure of individual deals (usually larger and/or more unusual risks);
  • Align the pricing process with improved capture and modelling of policy exposures to assess aggregations of risk and better inform the technical rating process;
  • Conducting detailed segmental reviews within classes of business to objectively assess profitability; provide evidence-based conclusions and recommendations for strategic changes, underwriting actions and portfolio optimisation;
  • Monitoring the execution of underwriting changes and assessing the impact of these on the account’s profile and emerging claims experience;
  • Maintain the feedback loop (control cycle) and provision of information and analysis between the pricing, reserving and business planning processes;
  • Quantify the technical adequacy of rates required to meet returns on capital;
  • Evaluating the impact of market conditions and rate change. Analysis and research into the rating environment and market behaviour within key business lines;
  • Input into the business planning process for the AXIS Group and legal entities – primarily to determine gross of reinsurance loss picks, but also to inform assumptions around the efficacy of, and recoverability from, different outwards reinsurance programme structures;
  • Work with capital modelling team to improve underwriting risk parameterisation and methodology used in capital model.

Required Qualifications and Experience

  • At least 4-6 years’ experience in a General Insurance actuarial role; consultancy or company;
  • Member of the Institute & Faculty of Actuaries, Casualty Actuarial Society or equivalent professional body. Strong track record of progress in actuarial examinations to date;
  • First class or 2:1 University degree (or equivalent);
  • A-level mathematics (or equivalent).

Skills

  • Excellent communication and interpersonal skills; able to establish credibility with senior underwriters, business unit leaders and divisional leadership;
  • Thoroughness, attention to detail and diligence;
  • Self-starter, proactive and a quick learner with strong numeracy skills. Willing to question and investigate;
  • Reasonable understanding of standard reserving and pricing methods;
  • Keen to further technical and market knowledge through own research and CPD;
  • Competent user of Excel, Word, Powerpoint. Programming skills in automation, database management and statistical packages will be a strong advantage.

Key Performance Indicators

  • Quality of work — technically sound, well thought-through, and free from errors;
  • Trust and respect of peers, senior actuarial colleagues and underwriters;
  • Timeliness of delivery and appropriate prioritising of work;
  • Innovation - identification of new methods and opportunities to improve systems, actuarial analysis and processes;
  • Passing of actuarial examinations (if applicable).

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© EuroJobsites 2019

EuroJobsites is a UK registered company number: 4694396 VAT number: GB 880 9055 04

Registered address: EuroJobsites Ltd, Unit 8, Kingsmill Business Park, Kingston Upon Thames, London, KT1 3GZ, United Kingdom

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