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Pricing Actuary at Vitality

Pricing Actuary

Vitality London, Greater London Full-Time
£Competitive Bonus Benefits
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Vitality, Pricing Actuary, London, £Competitive Benefits Bonus

We’re the UK insurer and investment provider that rewards people for positive lifestyle choices. With 1.25m UK members and more than 25m globally, we’re out to make the world a healthier, happier place.

That applies as much to our people as it does to our members. So, as well as a highly competitive pay package, you’ll enjoy: complimentary breakfasts; regular onsite physical and mental wellness workshops; on-site health checks; annual flu jabs, and access to our full range of partners and rewards.

It’s what we call offering shared value, because a healthy, happy team is good for us, good for our members, and good for you.

As our Pricing Actuary, you’ll get the benefits our members enjoy, including:

- Our award-winning private Vitality Health insurance wellness incentive programme

- Access to The Vitality Programme – Apple Watch, Waitrose and Partners, Garmin, Champneys Spa days, half price gym memberships, Disney Store discounts to name a few!

- Personal health fund Life Assurance

- Stakeholder Pension Plan with employer contribution

- 25 days annual leave Bank holidays option to buy and sell 5 more.

- Flexible benefits package

- Internal incentives, competitions, and awards – a chance to win football and sports tickets or even be in with a chance to have a holiday of a lifetime

- A genuine opportunity to grow and establish a long-term career

As our Pricing Actuary, you will take a role in developing and delivering the pricing strategy for new and existing protection products, as well as monitoring product pricing performance and leading strategic projects to identify and develop opportunities for innovation. You will also experience analysis for refinement of pricing basis, support with commercial agreements analysis and bespoke pricing arrangements, and support the delivery of reprices.

Responsibilities as our Pricing Actuary include:

- Delivering a pricing strategy for VitalityLife to significantly enhance portfolio sustainability and profitability

- Working closely with product development, analytics, underwriting and sales teams to enhance pricing models

- Contributing to the re-pricing process for existing products and policy servicing changes

- Delivering complex pricing reports and analysis and presenting them to key stakeholders and committees

- Delivering enhancements to pricing capability through research and development of new rating and segmentation factors

- Working with the sales team to develop commercial pricing strategies to improve sales and retention, whilst maintaining profitability levels and hitting the business plan metrics

- Working with BI/MI teams to gather data and perform experience analysis

- Working with the Valuations team to document, reconciling and communicating basis differences to senior management

- Reinsurance tenders – supporting during new product or pricing reinsurer tenders

- System support – providing actuarial support during system development and testing, specifically around pricing developments and change

- Building relationships with all departments to share best practice and enhance VitalityLife analytical capability whilst building the profile of the pricing team

Skills and experience required to become our Pricing Actuary:

- Nearly/newly qualified actuary

- Experience working in life office or reinsurer, specifically in pricing protection products

- A strong ability to analyse problems and develop structured solutions

- Experience of working with Microsoft Excel (advanced)

- Excellent relationship building and communication skills – both written and verbal

- Advanced experience of Prophet and DSC (desirable)

- Advanced Data analytics skills; Excel, Visual Basic, Access, SQL, R, Python, etc (desirable)

Closing Date: Thursday 4th February

Working for Vitality, you'll experience an exciting mix of creativity and innovation, within a framework of challenging objectives and a passion for delivering the best.

Our people are chosen for their skills, knowledge, enthusiasm, and attitude but above all, their belief that anything can be achieved.

If you feel you have the skills and experience to become our Pricing Actuary, then please click ‘apply’ today.


Recommended skills

Research And Development
Pricing Strategies
New Product Development
Business Planning
Relationship Building
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