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.
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
