Actuarial Reserving Analyst
Posted 1 week ago by Totaljobs
£55,000 Per year
Undetermined
Hybrid
South West; Bristol; Swindon; Plymouth; Cornwall; Bath; Exeter; Bournemouth; Devon; Gloucester; Salisbury
Summary: The Actuarial Reserving Analyst role at 1st Central involves providing analysis and insights on claims reserves for Motor and Home insurance, assisting in the calculation of Best Estimate claims reserves, and making recommendations to senior team members. The position requires strong data analysis skills and experience in personal lines insurance, with a focus on collaboration in a flexible hybrid working environment. The successful candidate will contribute to the production of timely and accurate reserves and support improvements in the reserving process. This role is ideal for someone with a mathematical or science-based degree and a passion for data analysis.
Key Responsibilities:
- Assist in the production of timely and accurate best estimate reserves for Motor and Home.
- Support the Reserving team’s monthly reporting requirements, including monitoring claims experience.
- Contribute to improvements in the reserving process.
- Provide solutions and recommendations on everyday business issues.
- Utilize detailed data for actuarial reserving analysis.
- Produce new analyses using appropriate software to promote efficient processes.
- Communicate findings clearly and logically.
- Assist in producing inputs into the Solvency 2 technical provision model.
- Ensure compliance with company and relevant standards/regulations.
Key Skills:
- Degree in a mathematical or science-based discipline.
- Advanced MS Office skills, particularly in Microsoft Excel.
- Experience with data analysis software (e.g., SAS, R, Python).
- Strong data analysis and statistical skills, including linear regression.
- Excellent communication skills, both verbal and written.
- Strong analytical and problem-solving skills.
- Good time management and organizational skills.
- Knowledge of personal lines insurance data and the insurance market.
- Ability to work independently and as part of a team.
Salary (Rate): £55,000 yearly
City: undetermined
Country: undetermined
Working Arrangements: hybrid
IR35 Status: undetermined
Seniority Level: undetermined
Industry: Other
Location: Gibraltar, Haywards Heath or Manchester Salary: Up to £55,000 - depending on experience Department: Finance
We’re 1st Central, a market-leading insurance company utilising smart data and technology at pace. Rapid growth has been based on giving our 1.4 million customers exactly what they want: great value insurance with an excellent service. And that’s the same for our colleagues too; we won Insurance Employer of the Year at the British Insurance Awards 2024 and our Glassdoor score is pretty mega too! 1st Central are seeking an Actuarial Reserving Analyst who will provide analysis and insight on claims reserves, assisting in calculating an appropriate Best Estimate claims reserve for Motor and Home classes of business and making recommendations to senior members of the Reserving team. You will also be required to analyse detailed claims and premium data to be used within the actuarial reserving analysis.
We’re big on flexible hybrid working. Our teams are based across Salford Quays (Manchester), Haywards Heath (West Sussex), and Gibraltar. We primarily work from home but value collaboration, so we come together in person to keep ideas flowing, typically once a week or fortnight. Prefer being in the office more often? That works for us too.
We’re looking for someone who has:
- Technical & Systems Skills: Advanced MS Office skills, particularly Microsoft Excel skills any experience of using actuarial and data software such as ResQ is highly advantageous
- Data & Statistical Analysis: Strong data analysis skills, with the ability to create and adapt reports and apply appropriate statistical techniques based on the scenario. Experience with data analysis tools (e.g. SAS, R, Python) and Excel, including methods such as linear regression.
- Analytical Thinking & Problem-Solving Skills: Strong analytical and numerical skills, with a logical approach to problem solving
- Industry Experience: Some experience of working within a personal lines insurance company, with exposure to Motor and/or Home lines of business.
- Education & Qualifications: Degree in a mathematical or science-based discipline
What’s involved:
- You’ll assist in the production of timely and accurate best estimate reserves for Motor and Home to the Head of Reserving
- You’ll assist in the Reserving team’s monthly reporting requirements including monitoring claims experience
- You’ll support improvements to the reserving process
- You’ll find solutions to and make recommendations on everyday business issues
- You’ll use detailed data to be used in detailed actuarial reserving analysis
- Production of new analyses using appropriate software to promote efficient processes
- Production of findings in a clear and logical manner
- You’ll assist in the production of inputs into the Solvency 2 technical provision model
- A positive manner with ability to communicate well with all colleagues and stakeholders
- You’ll ensure compliance with company and other relevant standards/ regulations at all times
Experience & knowledge:
- Some experience of working within a personal line’s insurance company with exposure to Motor / Home lines of business
- Some experience of data analysis software (e.g. SAS, R, Python), Excel and statistical techniques such as linear regression
- Knowledge of personal lines insurance data, purposes and uses
- Some knowledge of motor and home insurance / claims
- Solid understanding of the insurance market
Skills:
- Mathematical or science-based degree
- Excellent data analysis skills with the ability to modify and create reports in the appropriate software
- Advanced MS Office skills, especially Microsoft Excel
- Excellent data and statistical analysis skills with the ability to apply the most appropriate statistical technique depending on the circumstances
- Strong computer skills, with the ability to use numerous software packages such as ResQ
- Good communication skills, both verbal and written
- Good time management and organisation skills
- Strong analytical and problem-solving skills, with the ability to adopt a logical approach to solving problems
- Strong numerical skills
Behaviours:
- Logical thinker with solid reasoning ability
- Commercially focussed
- Self-motivated and enthusiastic
- An organised and pro-active approach
- Ability to work on own initiative and as part of a team
- Embrace, embed and incorporate the Company Values
- A flexible approach and positive attitude
- Emphasis on attention to detail and accuracy
- Takes initiative to make decisions
- Strives to drive business improvements to contribute to the success of the business
Bring your actuarial expertise to a business that values precision, insight and progress. Ready to make your mark? We’d love to hear from you. What can we do for you? People first. Always. We’re passionate about our colleagues and know the best people deserve an extraordinary working environment. We owe it to them so that’s what we offer. Our workplaces are energetic, inspirational, supportive. To get a taste of the advantages you’ll enjoy. Intrigued? Our Talent team can tell you everything you need to know about what we want and what we’re offering, so feel free to get in touch.