Bupa United Kingdom United Kingdom
4 months ago
Actuarial Pricing Consultant
Angel Court, London
Flexible + Remote working (up to 100% from home)
Up to £93K + fantastic benefits including 10% Management Bonus Scheme
Full time 35 hours per week
Here you’ll be welcomed. We champion diversity and we understand the importance of our people representing the communities and customers we serve. You’ll find an inclusive environment where you can be yourself and where everyone is driven by the same purpose – helping people live longer, healthier, happier lives and making a better world.
Bupa’s purpose is to help people live longer, healthier, happier lives and making a batter world, our Actuarial teams play a key role in helping us deliver on our purpose. In 2019 we appointed a new Chief Actuary, under their leadership we’ve expanded our team and invested in our colleagues, delivering great results for our business.
We believe our Actuarial team shapes the future of our company. With colleagues covering pricing, reserving... modelling and much more they help future proof our business, all the while keeping our customers at the heart of every decision.
The pricing actuary's purpose is to support Bupa Global by improving data, insights and predictive analytics within the company. Making strategic and tactical recommendations on pricing and underwriting topics in support of Bupa’s strategic goals and the pricing and underwriting strategy.
It’s pricing that’s truly Global: UK, Dubai, HK, Egypt, Bahrain, Qatar etc...
It's broad. You'll be developing the strategy to grow the business further (pricing and sophistication). It's an exciting time to be at forefront of this enterprise expansion…
Responsibilities and activities will vary depending on evolving strategy and priorities within the business but will include the following types of tasks:
• Working with international stakeholders to develop new pricing initiatives and support other areas that require pricing input
• Carrying out rate and zonal reviews to assess performance of Bupa’s product suite and making pricing recommendations and supporting the implementation of these
• Developing and maintaining risk, demand and value models using generalised linear models and machine learning to support pricing and to provide insight into customer decision-making
• Building pricing scenario tools to test different pricing strategies
• Identification, development and deployment of new analytical techniques, tools and data sources, and supporting team members in making optimal use of these
• Pricing of new and existing IPMI and other insurance products
• Facilitating and interpreting competitor pricing analysis
Supporting projects across multiple functional areas, as a subject matter expert, applying advanced analytical methods to develop business solutions to challenges and opportunities that arise.
The role holder is expected to have the following experience and qualification/s:
• Qualified Actuary (IFoA) with 2-3 years post-qualification experience – strong, newly qualified candidates will be considered or a similar level of experience in a pricing team
• I/PMI pricing experience – candidates with pricing experience in other general insurance sectors will be considered
• Strong experience with manipulating and using insurance data
• Statistical modelling experience including Generalised Linear Modelling and other advanced analytics methods
• Lifetime value or embedded value modelling
• Experience with suitable statistical and analytical tools such as SAS, Earnix, Emblem, Radar and R
• Proven track record of applying advanced analytics and data modelling to business situations in order to provide strategic recommendations. Ability to refine and apply knowledge of data to solve business needs
A proactive mindset, challenging requirements, seeing things from a customer's viewpoint and exploring new directions from results of analyses.
We are a health insurer and provider. With no shareholders, our customers are our focus. We reinvest profits into providing more and better healthcare for the benefit of current and future customers.
Our benefits are driven by what matters to our people. It’s important to us that these benefits support a work-life balance that keeps people healthy, both mentally and physically. You’ll be eligible for:
• One off Golden Handshake payment (T’s and C’s apply)
• Payment of Professional Registration fees
• Equivalent to 25 days holiday per year, increasing through length of service, with option to buy or sell
• Bupa health insurance as a benefit in kind
• An enhanced pension plan and life insurance
• Annual performance-based bonus
• Support with travel costs via a season ticket loan or cycle2work
• Discounted access to online gym sessions through Gympass
• Various other benefits and online discounts
• Free onsite massages as a recognition for your hard work
• Opportunity to participate in our annual awards ceremony
Diversity and Inclusion
Bupa is committed to making sure that every applicant is assessed solely on personal merit and qualifications. We actively celebrate the diversity of our colleagues and provide an inclusive environment so you can bring your true self to Bupa. We’ll make sure you are treated fairly. That’s why we’re happy to offer reasonable adjustments as part of our recruitment process to anyone that needs them.
Whether you’ve found your feet or are discovering a new path.
Welcome to a place that celebrates you.
This isn’t where you've been.
This is where you're going.
This is what we have belief in
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