My client, a leading Insurtech, stands at the forefront of transforming the insurance industry through innovative technology and advanced solutions. The company is dedicated to harnessing data and cutting-edge analytics to provide exceptional insurance products and services. Their dynamic team embraces challenges and thrives on a culture of collaboration and excellence.
Position Overview: My client is seeking a highly experienced and strategic Head of Actuarial - Professional Liability to lead their actuarial team in developing and managing pricing strategies for professional liability, cyber, and management liability lines. This pivotal role involves driving actuarial functions, ensuring robust pricing models, and overseeing reserving and catastrophe modeling processes. The ideal candidate will bring over 10 years of management experience, with deep expertise in professional liability and related areas.
Key Responsibilities:
- Pricing Strategy: Develop, implement, and refine pricing models for professional liability, cyber, and management liability insurance products. Ensure pricing strategies are aligned with market conditions, company objectives, and regulatory requirements.
- Management and Leadership: Lead and mentor a team of actuaries, providing direction, guidance, and support to foster a high-performance culture. Manage departmental resources, budgets, and project timelines effectively.
- Reserving and Catastrophe Modeling: Oversee the reserving process for professional liability lines, ensuring accuracy and compliance with regulatory standards. Develop and enhance catastrophe models to assess and mitigate risks.
- Cross-functional Collaboration: Collaborate closely with product development, underwriting, and data science teams to integrate actuarial insights into business strategies and decision-making processes.
- Regulatory Compliance: Ensure actuarial practices adhere to industry regulations and standards. Stay updated with changes in regulations and adjust practices accordingly.
- Reporting and Communication: Present actuarial findings and recommendations to senior management and stakeholders. Prepare and deliver detailed reports on pricing, reserves, and risk assessments.
- Innovation and Improvement: Drive continuous improvement in actuarial processes and methodologies. Stay abreast of industry trends and technological advancements to enhance the company’s actuarial capabilities.
Qualifications:
- Experience: A minimum of 15 years of management experience in an actuarial role, with significant exposure to professional liability, cyber, and management liability lines.
- Technical Skills: Expertise in pricing, reserving, and catastrophe modeling, with proficiency in actuarial software and tools.
- Leadership: Demonstrated ability to lead and develop high-performing actuarial teams. Strong project management skills with the capability to handle multiple priorities.
- Communication: Exceptional verbal and written communication skills, with the ability to convey complex actuarial concepts to non-technical stakeholders.
- Education: Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field. FCAS Designation is required.
- Analytical Skills: Strong analytical and problem-solving abilities with meticulous attention to detail.
