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Actuarial Pricing Analyst
2 months ago
The Actuarial Pricing Specialist is a crucial role at Network Recruitment, responsible for developing and maintaining pricing models that ensure our insurance products remain competitive and profitable.
Main Responsibilities:
- Pricing Model Development: Create and update pricing models for insurance products based on data analysis and actuarial science principles.
- Risk and Profitability Evaluation: Assess risks and profitability for new and existing products to inform pricing strategies.
- Collaboration and Communication: Work closely with underwriting, product development, and sales teams to align pricing with business goals and objectives.
- Regulatory Compliance: Ensure pricing strategies adhere to industry regulations and company policies.
- Reporting and Documentation: Prepare reports on pricing assumptions, methodologies, and portfolio performance to inform business decisions.
- Model Validation: Regularly test pricing models to ensure accuracy and relevance in a dynamic market.
- Process Improvement: Continuously improve pricing practices, tools, and technology to stay ahead of the competition.
Educational Qualifications:
- Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics, or a related field.
- Progress towards actuarial exams (e.g., ASA, ACAS) is preferred.
Experience:
- Minimum 3 years of experience in actuarial pricing or a related role, preferably in the insurance industry (life, health, property & casualty).
- Familiarity with pricing models and actuarial software (e.g., Excel, R, Python, SAS, Prophet) is required.