Reinsurance Pricing Lead
Who are we?👋
Look at the latest headlines and you will see something Ki insures. Think space shuttles, world tours, wind farms, and even footballers’ legs.
Ki’s mission is simple. Digitally disrupt and revolutionise a 335-year-old market. Working with Google and UCL, Ki has created a platform that uses algorithms, machine learning and large language models to give insurance brokers quotes in seconds, rather than days.
Ki is proudly the biggest global algorithmic insurance carrier. It is the fastest growing syndicate in the Lloyd's of London market, and the first ever to make $100m in profit in 3 years.
Ki’s teams have varied backgrounds and work together in an agile, cross-functional way to build the very best experience for its customers. Ki has big ambitions but needs more excellent minds to challenge the status-quo and help it reach new horizons.
Where you come in?
In this Commercial Pricing Lead you'll work closely alongside our Underwriters to ensure the profitability of our book. You'll enhance Ki's risk selection and build our commercial and strategic direction. You'll be responsible for carrying out deal level pricing for complex teinsurance risks and facility deals, providing challenge and direction where required. You'll support the class by developing class specific management information and insight to communicate back to stakeholders across Undewriting, Portfolio Management, Actuarial, Algorithmic Underwriting, Risk and external brokers and clients.
What you will be doing: 🖋️
- Responsible for delivering deal level case pricing across divisions, with a focus on material and complex deals. Providing SME class and market knowledge to supplement and challenge.
- Responsible for building best-in-class pricing model(s) that sit outside of the algorithm including the technical build, development, and maintenance, adopting innovative and sophisticated techniques, utilising tech solution. Working closely with the other class specific Pricing Team members.
- Carry out model validation and recalibration exercises, assessing and communicating the impact of model changes.
- To create and maintain the appropriate governance and documentation of the model(s), and to support the Actuarial Director and Head of Pricing with relevant Actuarial/Pricing governance and reporting.
- Working collaboratively with the Algorithmic Underwriting team to support the development of the class model within the Algorithm, inputting SME knowledge into the development of new techniques and data sources to Ki’s capabilities within the Algorithm.
- Embedded day-to-day sat within the Casualty Treaty division team in Portfolio Underwriting Team within Ki, working side by side with the Underwriters to enhance Ki’s commercial and strategic approach using creative actuarial insight and innovative solutions - ultimately creating commercial value.
- Supporting the Portfolio Underwriting team in external meetings and communication with brokers and clients.
- Identify areas for growth or remediation within the class, supporting strategic direction through input and challenge.
Requirements
- A Qualified actuary (FIA, FFA or equivalent) or signficant pricing actuarial experience
- Subject matter expert knowledge in Treaty pricing, with a number of years experience working within the class within the Lloyd’s/company markets.
- Obtained a relevant, numerate degree with a good overall grade.
- Self-starter, creative thinker and problem solver, bringing unwavering curiosity and enthusiasm - to challenge how we do things and bring fresh ideas to the table. We’re always looking to improve!
- Project management with moderate guidance and direction ensuring delivery of your work to achieve our goals and meet deadlines.
- Excellent communication and collaboration skills.
- Sound commercial general insurance Lloyd’s/company market experience.
- Excellent IT skills, in particular an advanced/intermediate level of MS Excel, SQL and Python, with experience in other coding languages welcome in addition. Must have an appetite to continue to develop in Python.
- Data science skills and a proven track record of applying them effectively in an insurance setting are beneficial.
Benefits
You’ll get a highly competitive remuneration and benefits package. This is kept under constant review to make sure it stays relevant. We understand the power of saying thank you and take time to acknowledge and reward extraordinary effort by teams or individuals.
What to expect during the recruitment process:
1) Initial recruiter screening call
2) Interview with hiring manager
3) Technical Interview (this may vary depending on the role)
4) Values Interview