- Analysis of the historical performance of the existing portfolio, identifying the drivers of trends and outcomes, putting forward recommended pricing actions, and modelling the likely future impact of these actions.
- Supporting the development of new products and benefit features and support the pricing of any relevant new product or benefit changes. This can include client specific analysis.
- Carrying out analysis and investigations of an actuarial nature, covering topics such as new business conversion rates, retention, competitor pricing, customer complaints and decision-making, expense allocation and long-term profitability by customer segment.
- In all of this work there will be a clear focus on treating customers fairly and ensuring good outcomes for them.
- Experience in pricing in general insurance or health markets.
- Practical knowledge of some of the following types of models: Generalised Linear Modelling or machine learning; econometrics such as price optimisation; lifetime value value modelling.
- Strong numerical and analytical skills demonstrated through previous experience.
- Strong communication skills, including the ability to present technical information and ensure it is understood by various stakeholders.
- Advanced PC skills including Excel, Word, and PowerPoint.
- Experience with SAS or SQL is essential
- Experience in Emblem, Radar and R would be an advantage.
- Good progression towards the IFoA qualification (or equivalent) would be an advantage (11+ exam passes, but will consider those with required technical experience who are not pursing formal qualification)
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Actuarial Pricing Analyst - Salford, United Kingdom - Bupa
Description
Job Description:
Actuarial Pricing Analyst
Hybrid working with 3-4 days per week working from home
Staines or Angel Court, London
Permanent
£50K - £55K per annum + fantastic benefits
Full time 37.5 hours per week
Our Actuarial teams play a key role in helping us deliver on our strategy. Whether your focus is pricing, reserving, modelling or another area we believe in allowing our colleagues to work in a way that suits them. Giving them the time and freedom to keep our customers at the heart of every decision.
This role is in Bupa's UK Insurance business and you'll be part of the actuarial team responsible for the pricing and analytics for all our corporate insurance products.
Responsibilities and activities will vary depending on evolving strategy and priorities within the business but will include the following types of tasks:
A typical day will involve extracting, refining and enriching data, building and running models using advanced analytical techniques, interpreting results and providing insight and recommendations. The ability to problem solve and work from first principles will be required to develop solutions to brand new or client specific requests. Work will be documented in line with the Technical Actuarial Standards and you'll contribute to the drafting of reports and presentations for consumption by senior stakeholders.
Work will be carried out independently, with support and oversight of the Senior Pricing Actuary.
You will work closely with colleagues in other teams such as Sales, Finance, Customer Insights, Product & Proposition, Clinical Policy and Healthcare Analytics on a range of projects and initiatives.
You'll also work with our colleagues in the Actuarial Technical Hub to understand claims inflation and its impact on product performance, and to ensure that the impact of our pricing work is taken into account in reporting and planning.
Qualifications, skills and experience
The role holder is expected to have the following experience and qualification/s:
Benefits
Our benefits are designed to make health happen for our people. Viva is our global wellbeing programme and includes all aspects of our health – from mental and physical, to financial, social and environmental wellbeing. We support flexible working and have a range of family friendly benefits.
Joining Bupa in this role you will receive the following benefits and more:
• 25 days holiday per year, pro rata to your contract.
• Access to a range of services to support your physical and mental wellbeing
• Fixed term benefits allowance
• Access to our confidential employee assistance programme
• Workplace pension
• Online discounts covering your everyday shopping, entertainment, eating out and more.
Why Bupa?
We're a health insurer and provider. With no shareholders, our customers are our focus. Our people are all driven by the same purpose – helping people live longer, healthier, happier lives and making a better world. We make health happen by being brave, caring and responsible in everything we do.
