Pricing Actuary

1 month ago

Toronto, Ontario, Canada Munich Re Full time
Pricing Actuary Company HSB Canada Location Toronto , Canada

Driven by technology and fueled by innovation, HSB is Canada's premier specialty insurance and applied technology services provider. Offering 150 years of technical and service excellence, we are focusing on emerging trends and unlocking new opportunities for clients. Today, we are accelerating, changing the future of insurance and risk solutions, for a modern world.

At HSB, we value the strengths and contributions of our diverse workforce. We offer continuous learning opportunities, giving you flexibility to grow in your career while enjoying a healthy work-life balance and a collaborative approach in our coast-to-coast network of offices. Become part of a rewarding and impactful workplace experience while seeing first-hand technologies and risk solutions that are changing the way we live and work.

HSB is much more It's insurance. Engineering. Technology. To learn more about us, please visit:

Primary Objectives:

The Pricing Actuary conducts qualitative and quantitative data analysis to assist in P&C pricing new and existing products, in order to facilitate the Company planning process. The primary purpose of the Pricing Actuary is to ensure profitable growth for our Commercial and Personal Specialty lines, including Equipment Breakdown and Cyber. You will be involved in reviewing our current price level, perform / review predictive models, monitoring the performance of various products and developing pricing tools for underwriters. You will work closely with our peers in HSB US to provide pricing support for our Personal and Commercial Products.

Reporting to the Director, Underwriting, and as part of the Corporate Underwriting Team, you will contribute to Pricing Projects, using actuarial models and innovative approaches. Projects are varied and include development of rating structures and monitoring / reporting on overall rate adequacy. In this role, you will have exposure to rating in both personal and commercial property lines with valuable career development potential.

This role is located at our Head Office in downtown Toronto and is ideal for an innovative thinker with a problem solving mindset, who is eager to learn and grow.

Job Responsibilities:
  • Take a lead role in pricing the Accounts, Programs and Treaties, including establishing and defending pricing assumptions for quote opportunities.
  • Conduct indication analysis to ensure rate adequacy of pricing components and rating methodology to price existing and new products based on thorough statistical analysis of loss and premium trends.
  • Design, test and maintain pricing tools, including reports to monitor product performance.
  • Manage Profit Margins on new and renewal business and assist in the monitoring product performance.
  • Perform and present trend analysis, rate monitoring and ad hoc requests from senior management.
  • Develop Rate Indications and have a good background on indication methodologies and underlying assumptions.
  • Provide actuarial support in the development of new products and services to achieve successful implementation of approved strategic initiatives.
  • Lead and deliver strategic pricing projects including the development and implementation of rating structures and pricing models.
  • Communicate and present pricing results to the Underwriting / Treaty team.
  • Effectively communicate insights and recommendations to management;.
  • Collaborate with internal stakeholders such as Treaty, Regional Offices and New Solutions Development to support their needs for pricing across all products.
  • Provide on-going improvements to pricing processes, to deliver automated and accurate results.
  • May interact with external clients through the pricing of large, complex Programs and Treaties.
Qualifications:
  • University Degree in a quantitative field: Actuarial Science, Mathematics, Statistics,
  • 5 - 7 years of P&C actuarial work experience, Commercial or Personal Lines,
  • Completion of at least 2 actuarial CAS/ SOA exams,
  • Proven experience in advanced programming and data mining using Power BI, Excel, VBA and SQL,
  • Capable of carrying out actuarial analysis with minimal supervision and self-driven to deliver business insights,
  • Strong presentation skills to communicate technical concepts to internal and external stakeholders,
  • Strong analytical problem-solving skills and the ability to automate solutions,
  • Ability to prioritize multiple projects and meet time sensitive deadlines with high degree of accuracy,
  • Ability and desire to learn and adapt quickly to a changing fast-paced environment,
  • Strong interpersonal and communication skills in effectively working within a team and collaborating with several business partners,
  • A positive, professional attitude is essential for this role.
Creating and maintaining a work environment that promotes respect, diversity and dignity is important to us. We strive for equality in our workplace, to eliminate employment barriers, and promote a workplace based on principles which align with our company values and promote positive employee practices. Candidates requiring accommodation during any stage of our selection process should advise us of this; we will strive to work with individuals to find a suitable means to meet their needs.

We thank all candidates for their interest; however only those selected for interview will be contacted.

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