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Catastrophe Pricing Actuary (m/f/d) Based in London or Munich

Job Level:  Professional
Location: 

London, GB, EC3V 0HR Unterföhring (bei München), DE, 85774 München, DE, 81737

Due Date:  as soon as possible
Area of Expertise:  Actuarial
Unit:  Allianz Global Corporate & Specialty
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  7747

Whether it’s airplanes, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Global Corporate and Specialty (AGCS) have got the major risks fully covered when it comes to protecting businesses.

 

Job Purpose/Role 

 

The Global Pricing team is part of the Chief Underwriting Office at AGCS and is responsible for understanding AGCS portfolios and their performance and for ensuring the pricing tools are calibrated to secure AGCS’s future profitability. You will join an international team located across London, Munich, Bucharest, Chicago and New York.

 

AGCS is undergoing a dynamic shift in its data landscape and is looking to expand its Global Pricing team to leverage this data to generate new insights in the portfolio performance and pricing analyses. In this role, you will report to the Head of Pricing for Property and Energy & Construction and provide support on cat pricing topics to these lines of business as well as to the Marine line of business. You will take an active part in guiding and steering the performance of the portfolios in respect to Natural Hazards and as part of that will inform appropriate pricing strategies to enable AGCS to meet long-term profit targets. You will provide advice and tools that enable execution of these strategies and support in the monitoring of outcomes.

 

Responsibilities

 

In this role you will…

 

•    Develop and maintain the cross-lob modelled and non-modelled cat pricing in collaboration with the Cat Management team. In particular, this involves the refinement of the pricing tools through updates of hazard maps/vendor models, recalibrations and the development of appropriate statistical pricing methodologies
•    Support the identification of natural hazard losses in the pricing data to enable granular analyses
•    Support the other Pricing actuaries in the estimation of the natural hazards normalized loss ratio in their deep-dive profitability reviews
•    Analyze cat claims trends from internal and external sources and ensure these are reflected in pricing and monitoring activities (eg. Trend Committee)
•    Ensure that the results of such analyses lead to meaningful portfolio actions and are reflected in the technical pricing models as appropriate
•    Monitor outcomes of the portfolio actions implemented following profitability analyses
•    Establish an excellent working relationship with the Underwriting teams to ensure their long-term support for technical pricing concepts and pricing tools 
•    Support projects which affect the use of technical pricing and promote the use of technical pricing at AGCS
•    Contribute to the development of the Pricing processes
•    Successfully collaborate across the Global Pricing team and all AGCS departments

 

To be successful in the role:

 

You will have….

•    A qualification as Nearly/Newly Qualified P&C Actuary
•    Strong mathematical and analytical skills with great attention to detail
•    Experience in the development and data-driven calibrations of pricing tools and/or cat modelling review or calibration
•    Ability to work with complicated multi-national data landscape 
•    Strong computer and programming skills: Excel, SQL (or similar) essential, VBA or another programming language desirable

 

Ideally you will also have…

 

•    Self-motivated / proactive with natural curiosity to ask probing questions and ensure that those questions lead to appropriate action
•    Partnering mentality with the ability to build strong working relationships with peers, management and the business areas
•    Results orientated with a proven track-record of delivering on-time projects and process improvements
 

The benefits of joining AGCS

 

•    Hybrid working model, which recognizes the value in a balance between remote and office based working, giving you the flexibility to organize the way you work
•    An exciting and versatile job with an opportunity to work alongside skilled and specialised colleagues from all over the world 
•    An environment where innovation and challenging the status quo is encouraged
•    Wellbeing policies/initiatives to support a positive work life balance 
•    A competitive compensation and benefits package including generous bonus scheme  
•    Continuous learning: A large portfolio of continuous learning opportunities to help you stay relevant in your current role, grow into future roles and meet the demands of the workplace
•    Diverse and inclusive culture: You will be accepted for who you are and empowered to use your voice to help others find theirs

 

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. 

 

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.

 

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals.Worldwide, AGCS operates with its own teams in 31 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2020, AGCS generated a total of €9.3 billion gross premium globally. 

 

In 2020, AGCS announced a new strategy and transformation program called New AGCS which aims to comprehensively transform the company, creating a mutually beneficial relationship with stakeholders. This  is  an  exciting  time  to  join  AGCS  as  we  continue  on  our  journey  of  transformation,  regaining  market  leadership  and  achieving  success  together.  You can grow your career through meaningful work supporting our customers, while learning from expert colleagues.

 

Allianz is an equal opportunity employer and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation. Diversity of minds is an integral part of Allianz’ company culture.

 

Let’s care for tomorrow.