Head of Commercial Lines Pricing


Job Ref:
1174

Job Title:
Head of Commercial Lines Pricing

Location:
Dundrum - Dublin 16

Closing date:
Close date not set

Vacancy Description

Head of Commercial Lines Pricing  – Dublin

RSA is one of the world's leading FTSE 100 general insurers with a proud heritage dating back over 300 years. We provide high quality, innovative insurance products and services for some 20 million customers in over 100 countries, setting new standards in the industry.
Why are we telling you all this? Well, we’re an ambitious sort of company. And if you’re an ambitious sort of person – with the drive to improve us as you improve yourself – we’ll promise you all the resources and career opportunities you need.
If you

  • Love Simplicity
  • Do the Right Thing
  • Have Boundless Ambition
  • Are Better Everyday

Then your journey could start here. Be your best Ü: Be RSA!
This is a very exciting time to join RSA as we continue to drive forward pricing sophistication in Commercial Lines business. 

We have a strong desire to make insurance easy for our customers and our people and to develop technical pricing in commercial lines in line with the future of insurance.

Excellent career opportunity to head up our Commercial Line Pricing Team in Dublin.

This role will be responsible for manages and helps with the day-to-day Commercial Lines Pricing activity, sitting within the Commercial Lines Portfolio and Pricing Department.  In this role, the individual will be involved with making rating recommendations, proposing and developing new pricing structures, making changes to rating engines and leading our pricing sophistication agenda across 14 commercial lines classes.

They will also appreciate all aspects of GLMs, other technical pricing techniques, quarterly claims trending analyses and all the associated complexities and aspects of implementing pricing change.

A key feature of this role is communication with and support to the Portfolio Management teams in Dublin and Belfast and other Actuarial Teams within the company.

The pricing team is key to the orderly functioning of our Virtuous Circle.  It is responsible for carrying out technical pricing exercises and providing analytical support to Portfolio.  The role also requires a level of Group interaction and you will be a member of a number Group wide working parties


Key Responsibilities:

  • Lead and assist in the production, interpretation, communication and implementation of pricing recommendations from GLMs and quarterly Claims Trending exercises
  • Build, maintain, improve and own all Commercial Lines Pricing models – GLMs, technical relativity exercises, large case pricing
  • Deliver technical excellence and constantly improve all aspects associated with pricing sophistication. This includes further improvements to renewal optimisation techniques and leading a strategic project to implement all rating in a single tool
  • Develop and implement price testing techniques to better understand and utilise elasticity assumptions/results within models for volumes lines style portfolios
  • Build and maintain effective working relationships between Pricing, Portfolio, Actuarial and Underwriting and corresponding teams across the Group 
  • Be a key contributor to cross functional engagement as part of the Virtuous Circle and Operational Planning
  • Lead and contribute towards the development of numeracy of underwriters
  • Manage and monitor the Change Control Process for pricing tools.  Be EUCA owner for pricing tools and ensure compliance within the team
  • Stay up to date on current actuarial market developments and topic

Requirements:

  • Fully qualified actuary with a minimum of five years’ experience in the field of general insurance pricing and will have:
  • Ability to work with underwriters and portfolio managers to agree technical price where data quality is variable, and judgement is required 
  • Flexibility to price non-standard risks and portfolios, and develop ad-hoc solutions to new pricing challenges
  • Ability to lead a small team of actuaries, set objectives that align with the company’s Operational Plan and deliver on the Pricing Plan
  • Excellent communication skills with the ability to present key pricing results to the wider business (e.g. at Quarterly Portfolio Reviews)
  • Ability and proven track record in leading key strategic change
  • Strong numeracy skills and understanding of statistical analysis

Minimum Competency Code:

  • This role is subject to the Fitness and Probity Standards (“The Standards”), issued under Section 50 of the Central Bank Reform Act 2010 and any subsequent amendments. The role holder must ensure they are fully aware of the Standards and in a position to fully comply with them at all times.


RSA Insurance Ireland DAC and its affiliate companies consider applicants on the basis of qualifications and without regard to race, colour, religion, sex, national origin, age, marital or veteran status, sexual orientation, disability or any other legally protected status.


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