Business Development Actuary
hace 5 días
The Business Development Actuary will play a crucial role in modeling and pricing renewal and new business policies for the WTW team.
- Develop and utilize complex financial models to deliver profitable results and sustain the long-term strategic direction of the team.
This role reports into the Chief Actuary and is responsible for enhancing, reviewing, and monitoring pricing models used throughout the group.
Key Responsibilities:- Pricing Model Enhancement: Enhance, review, and monitor pricing models used throughout the group to ensure they reflect the highest standards and provide consistent indications across all lines of business.
- Collaboration with Underwriting Team: Work integrally with underwriting team on deals and participate in meetings with brokers and clients.
- Complex Program Pricing: Price complex programs as needed.
- Pricing Decisions: Drive pricing decisions based on advanced risk pricing tools and legal/macro trend analyses.
- Information Sharing: Liaise with Underwriting, Claims & Loss Control team and the Chief Actuary to ensure that pricing analysis reflects all relevant and applicable information.
- Catastrophe Modeling: Work closely with Catastrophe Modelling team to price concentration accounts.
- Product Profitability: Assist pricing studies that monitor the profitability of products. The individual will have accountability for the gross/net profitability of lines of business and industry segment.
- Actuarial Metrics Tracking: Monthly tracking/reporting on key actuarial metrics across all lines of business (Rate change, rate change trends, loss trends).
- Data Request Handling: Handle numerous data and report requests relating to regulatory, rating agency, and financial reporting needs.
- Result Communication: Communicate results, analysis, and recommendations in a manner that is understandable and allows management to make operational changes where necessary.
- Reserve Reports Production: Assist with the production of actuarial reserve reports that comply with actuarial standards of practice.
- Data Provision: Provide data and information to third-party actuaries and auditors and work with the Chief Actuary to respond to questions related to the information provided.
- Subject Matter Expertise: Provide subject matter and functional expertise to internal/external stakeholders for their assigned area of responsibility.
- Reporting and Dashboard Development: Develop/maintain key reports and dashboards to support proactive claims monitoring and loss control initiatives.
- Underwriting Support: Work with Product teams to support underwriting initiatives.
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