Actuarial Pricing Apprentice London 2023

Let’s care for tomorrow.

Your ambitions. Your dreams. Your tomorrow.

At Allianz Global Corporate and Specialty SE (AGCS), we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Global Corporate and Specialty (AGCS) has the major risks covered when it comes to protecting businesses.

We are looking for an Actuarial Pricing Apprentice, based in London.

The Opportunity

Starting in September 2023, our Actuarial Pricing Apprentice programme will give you the opportunity to develop a range of skills while working within our Global Pricing team. In addition to on-the-job development, over the course of 42 months, you’ll spend 20% of your time participating on a Level 7 Actuarial Apprenticeship that will guide you through your Actuarial qualifications. This is an ideal opportunity for anyone looking to embark on a career as an Actuary and will provide you with the knowledge, skills and behaviors for success.

Your Team

You will join our programme as part of our Global Pricing team which is responsible for supporting actuarial methodology and case pricing for all lines of business that AGCS writes. This international team, located across London, Munich, Bucharest and North America has grown to 80 people globally and will provide lots of opportunities for diverse experience and exposure.

The Impact You Will Have

Reporting to the Head of Global Pricing Enablement, you will assist team members in supporting actuarial methodology and pricing across all lines of business. Based on your interests and abilities, you will get involved in a variety of pricing topics and can expect to be rotated across some of the different lines of business (Liability, Financial Lines, Short Tail Lines, Specialty Lines) as well as other functions (Enablement projects, Predictive Modelling) over your first few years.

Some of your specific responsibilities could include

• Case pricing of individual accounts in an Excel-based in-house tool, including preparation of the data and communication with underwriters. We will support you in developing the skills necessary to begin to make your own actuarial selections
• Deep-dive profitability reviews. This will involve preparation of the data and analysis of the profitability of individual accounts and/or business segments, as required
• Cross-LOB pricing processes, methodology and reporting - spanning data collection & validation, technical analysis, documentation and development of first recommendations.
• The maintenance of pricing tools including the refinement of the tools through recalibrations and the development of appropriate statistical pricing methodologies
• Projects which affect the use of technical pricing and promote the use of technical pricing at AGCS, including successfully collaborating across the Global Pricing team and all AGCS departments
• Establishing an excellent working relationship with the Underwriting teams to ensure their long-term support for technical pricing concepts and pricing tools
• Contributing to the development of the Pricing processes
• Understanding of market developments globally and ensure that loss trends are understood and reflected in our pricing activities

What You’ll Bring to the Role

• Strong mathematical and analytical skills with great attention to detail.
• To meet the entry requirements of the Level 7 apprenticeship, you must have a degree in a numerate subject such as mathematics, statistics or economics, or a degree in a non-numerate subject with a minimum grade B in A-Level mathematics or equivalent, or successfully completed an Actuarial Technician Level 4 Apprenticeship.
• Strong computer fundamentals such as Excel, VBA and SQL or Python experience preferred.
• Problem solving mentality
• High attention to detail with a focus on building systematic controls to ensure quality of delivery
• Ability to work in an international / virtual environment
• Good influencing skills
• Partnering mentality with the ability to build strong working relationships with peers, management and the business areas.
• Fluent English language skills

Further Information

• The role is fixed term for 42 months, but we expect well-performing candidates to be converted into a permanent role before the end of this term.
• You will be supported on a generous study package approximately 1 day a week to study towards your actuarial exams.
• This apprenticeship will commence in September 2023.

What’s in it for you?

Let’s care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We’ve got your back.

Let’s care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.