Senior Pricing Actuary

Who We Are

At The Aventum Group, we’re not one for following the usual rules. We work hard at being different and that very much extends to how we look after our people. Because for us, they’re not just people. They’re part of the family. A family that dreams big and always works together to make insurance better. For everyone.

We offer our employees a unique benefits package that includes personal training sessions, wellbeing provisions, and an additional day off for your birthday! We benefit from a learning culture and are keen to develop our employees to advance their careers at Aventum.

Role Summary

You are joining a newly formed actuarial function. The team’s immediate goal is to work with our CUOs to agree and deliver a pricing roadmap. This will involve creating an ecosystem of validated technical pricing models that generate MI, producing individual risk analysis and portfolio reviews. Our ambition is to develop into a valued point of support to our underwriting teams and our management team through a combination of strong communication and understanding our insurance products and company strategy.

Role Accountabilities

Embed a technical pricing eco-system that supports underwriter and management strategy.

For assigned classes of business establish a technical pricing model which:

• Reflects the underwriters view of risk and belongs to the underwriter

• Captures a technical price, bound price and multiple risk diagnostics

• Sits in a suitable software and is user friendly for the underwriting team

• Can be recalibrated as the external environment, underwriter risk appetite or company targets change

• The models will typically be exposure raters, with experience rating feature embedded. The rater type may vary by different lines of business.

• Is suitably documented with a clear audit trail.

Utilise the subsequent rater MI with analysis that loops back into underwriting strategy, model calibration and reserving considerations.

Provide risk pricing support for assigned classed of business on request or where risks quotes are expected to exceed a pre-agreed premium threshold.

Provide annual business planning support for future years. This will involve forecasting portfolio performance into a future underwriting period based on views on the market cycle, claims inflation and recommendations on target rate change or adequacy based on RS targets and market dynamics.

Outwards placement analysis support may be provided utilizing our view of our gross underwriting risk.

Role Requirements

• University degree in Mathematics or a related field

• Qualified actuary (FIA or equivalent)

• Experience of working closely with underwriting teams on technical pricing and influencing subsequent commercial decisions at the risk and portfolio level

• Intermediate to advanced experience in R or Python

• Previous experience and good understanding of reserving is preferred but not essential

Skills and Abilities

We are here to support the Rokstone management and underwriting teams with technical expertise and simple but effective communication.

We are here to be honest, pragmatic and commercial. We will challenge where opinions differ but also respect others views and communicate differences professionally, always communicating the uncertainty and limitations in our work.

Management Duties

There will be no immediate management responsibilities but we anticipate the successful candidate will get the opportunity to manage in the future.

We are an equal opportunity employer, and we are proud to share that 93% of our employees say they can be themselves at work. We aim to hire our industry's finest people because the best people drive the best outcomes. And we forever challenge the status quo because we know there are always ways to improve things. Because together, we're limitless.

We value applicants from all backgrounds and foster a culture of inclusivity. We understand the need for flexibility, so work in a hybrid model. Please let us know if you require any reasonable adjustments during the recruitment process.