Lead Underwriter/ Senior Actuarial Analyst

5 days ago

Sydney, New South Wales, Australia Pacific International Insurance (AUNZ) Full time

Posted: 07/03/2025

Closing Date: 04/04/2025

Job Type: Permanent - Full Time

Location: Sydney

Job Category: Other

Pacific International Insurance is a dynamic cross-Tasman company that operates as part of a respected global insurance organisation. Along with a diverse portfolio of direct insurance brands, a key strategic focus for Pacific is to partner with niche underwriting agencies via insurance binder arrangements. Our business philosophy is to provide soft landings through our interactions with partners, customers, community, our team, and the broader industry. With our strong foundation and progressive mindset, we continue to forge ahead, anticipating and meeting the evolving needs of our customers in the ever-changing insurance landscape.

The opportunity…

Due to business growth, we are looking for an experienced Lead Underwriter / Senior Actuarial Analyst to join our team based in Sydney reporting to the Chief Underwriting Officer. You will leverage your underwriting and actuarial expertise and play a crucial role in assessing and managing insurance risk by performing complex analyses and offering insights that guide decisions on pricing and product design.

Position Responsibilities and Accountabilities:

Underwriting and Risk Assessment– You will provide expert guidance and solutions by addressing underwriting queries and collaborating with account managers and partners to assess and manage risk effectively. You will ensure compliance with policies, legal requirements, industry regulations and develop and maintain underwriting guidelines.

Actuarial Analysis, Pricing, and Modelling– You will scale best practice actuarial and analytics to enhance reporting and meet various business needs. You will collaborate with data teams to set up actuarial datasets for modelling and monitoring and ensure data and information are automated, reconciled, and seamlessly available for the Appointed Actuary.

You will troubleshoot increases in claims costs and identify core drivers for correction, design and build analytical and portfolio monitoring packs to provide comprehensive insights into our portfolios. You will develop and maintain models for technical reviews of direct portfolios, recommending pricing and product changes to improve growth and profitability. You will monitor and adjust rates to maintain profitability and competitiveness.

Product Development– You will monitor competitor products and identify opportunities for development and ensure compliance with Product Design and Distribution Obligations and TMDs. You will analyse complaints and claims data to pinpoint areas for improvement and collaborate with cross-functional teams, including claims and distribution, to test and co-create product enhancements. You will estimate the costs of any product changes through technical analysis.

Stakeholder Relationships – You will serve as a point of contact for account management, providing support with partner and underwriting referrals. You will act as a liaison with the finance team to support financial reporting and mentor stakeholders and teams to build and deliver impactful data and insights. You will collaborate with stakeholders and cross-functional teams to design and price new insurance products. You will present findings and recommendations to senior management and stakeholders and prepare and present reports and findings to management and regulatory authorities.

What you will bring…

You will have demonstrated experience in underwriting, actuarial analysis, and portfolio management. You will have strong predictive modelling, statistical analysis, and technical skills (e.g., SAS, Python). You will have excellent accuracy, analytical and problem-solving abilities, along with strong communication and reporting experience. You will be able to work independently and as part of a collaborative team. You will have relevant professional qualifications in Actuarial Studies, Statistics, Mathematics, or a related discipline.

Why you will love working with us…

  • Competitive remuneration and variable rewards
  • Supportive and collaborative hybrid work environment that values work-life balance, ensuring you have the flexibility to excel both personally and professionally
  • Wellbeing Program offering EAP and annual wellbeing reimbursement to support your individual wellness
  • Volunteer and support opportunities to make a difference in your local community
  • Reward and Recognition Program offering both monetary rewards and additional leave
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