Marine and Specialty Pricing Manager
Company
Munich Re Specialty - Global Markets
Location
London
, United Kingdom
About us
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
Marine & Specialty Pricing Manager
Hybrid working – Commutable distance to London, Manchester or Birmingham local office.
We are looking for a dynamic professional to support our Head of Pricing and lead a growing team in a collaborative environment. In this role, you will be an advocate for our department as well as manage and mentor team members, and set the strategic direction to enhance cross-department collaboration.
You will handle requests from Lloyd’s of London, drive improvements, and refine pricing tools. Your insights will aid underwriters in realistic forecasting and identify growth opportunities through portfolio analysis. Additionally, you will maintain and enhance pricing models while developing innovative real-time management information to empower underwriters and strengthen our pricing strategies.
Responsibilities
- Take full responsibility for the Pricing function in respect of the Marine & Specialty underwriting divisions, ensuring all pricing related regulations and requirements are adhered too.
- Provide effective, efficient and reliable pricing support to assist the business in achieving a profitable and successful operating model.
- Effectively manage, mentor and support your direct reports, nurturing their career development and ensuring they are provided with the correct level of support and training to achieve their optimum output.
- Investigate, promote and embrace innovative ideas to develop and enhance the pricing capabilities within the Marine & Specialty underwriting divisions, including development of real time MI, use of web-based rating platforms, AI modelling / machine learning and price optimisation.
- Work closely with the Head of Pricing to steer the development and achieve the ultimate strategic goals for the Pricing team and Actuarial department, ensuring clear communication and effective collaboration.
- Manage the relationships with the Marine & Specialty underwriters, ensuring a productive working basis that allows the syndicate to remain a competitive, inspirational and trusted leader in the Lloyd’s market, whilst still delivering profitable results for the business.
- Investigate alternative data sources and strive to build data suites that can be utilised for the parameterisation of pricing models and enhancement of modelling techniques
- Review and if necessary, provide challenge on the work / conclusions of peers, direct reports and management.
- Work independently on individual pricing assessments of large or unique risks, including clear communication of results to the underwriters and challenging the underwriting view if and where necessary.
- Build, review, maintain and enhance pricing models, striving to achieve the optimum balance between rating integrity and market suitability while considering data availability and user capabilities.
Knowledge and Skills
- Actuarial pricing experience in the London Market.
- In depth knowledge and understanding of the underlying principles of insurance and reinsurance. Highly developed mathematical / statistical knowledge.
- In depth knowledge, understanding and practical experience in using of a range of actuarial modelling techniques and applications for pricing.
- Current Lloyd’s market knowledge.
- In depth knowledge and understanding of the dynamics and rating considerations for classes of business within the Marine & Specialty divisions.
- Experience with mentoring junior members of an actuarial team.
- Willingness to further increase knowledge of any pricing related matters and key market topics and develop technical and management skills.
Education and Professional Qualifications preferred
- University degree in Mathematics, Actuarial Science, Statistics, Economics or similar discipline.
- Qualification as a fellow of the Institute and Faculty of Actuaries or equivalent international body and / or relevant work experience (5+ years) in a dedicated actuarial role.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Please see our website for more information.
Benefits
• 25 days Annual Leave + bank holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support
#BePresent #BeBold #BeCurious