Job Description
Purpose
This role is dedicated to modernizing, automating, and elevating the insurance pricing function to enhance profitability and market agility. It serves as a bridge between traditional actuarial science and advanced technologies, including artificial intelligence, machine learning, and data science—facilitating the transition from traditional pricing methodologies to dynamic, real-time analytical solutions.
It is essential to collaborate closely with the COG Actuarial team and provide support for the Pricing Framework Project, with an initial focus on A&H pilot pricing initiatives and the potential objective of expanding these efforts across all consumer lines.
Responsibilities
- Serve as a dedicated Technical Pricing Actuary within the newly established Pricing Framework team.
- Lead and support the refresh of Benchmark models, DRE, and GLM models, leveraging expertise in RADAR software.
- Utilize Benchmark Rater to develop loss cost assumptions and commercial rating plans.
- Upload loss cost projections and commercial rating plan data via Actuarial IQ.
- Monitor conversion rates, including conducting rate testing and optimization to improve performance.
- Track and analyze loss ratios, recommending pricing or product changes as needed.
- Provide technical support for the business team in applying price elasticity and conversion modeling to inform and update rating plans, with ongoing rate testing
- Provide technical support for the business team in Developing and implementing optimization tools to enhance pricing effectiveness.
- Contribute to the development and maintenance of pricing guidelines, global pricing tools, regional pricing training, and audit processes.
- Maintain pricing documentation and modeling documentation according to the Chubb standard
- Support Connected Core related data/tool upgrades.
- Collaborate closely with cross-functional teams, including Product Owners, Data Masters, Underwriters, Data Analysts, Account Managers, Operations, Claims, and IT.
Qualifications
- Consumer Lines Product/Business in actuarial, Insurance knowledge and understanding Chubb
- Proven record of ability to work effectively in a highly matrixed organization across all levels of an organization.
- Possess strong influencing and interpersonal skills, honed in a demanding and high performing work environment.
- Track record in a leadership role, experience in bridging technical insights and business needs
- Pricing and underwriting A&H/IPL accounts in a multinational environment.
- Advanced level of SAS, SQL, EMBLEM/RADAR, Python, Databricks, AI, GLM/Machine Learning modelling
- Actuarial reserving & pricing experience
- A passion for people and learning, helping people to be better/stronger in their skills.
- Resilience and can-do attitude
- An energy to get things moving and some wins on the board, for constant improvement
- Open and strong communication, excellence in execution, innovative thinking, an inclusive mind-set
- Strong business acumen
