Personal Lines Pricing Actuary

  • IAG
  • Sydney NSW, Australia
  • 11/09/2019

Job Description

Personal Lines Pricing Actuary


#Closer #Braver #Faster


The Role
The purpose of the role and your unique contribution is to support the Manager, Consumer Pricing to fulfil pricing requests; liaise with other teams to educate on pricing concerns; perform investigations and pricing remediations where required; and make recommendations to improve our pricing function.


Key Responsibilities

  • Customer 
    • Manage the approach to recognise, anticipate and resolve pricing problems in the NRMA/RACV segment
    • Work closely with the Portfolio team to manage the book pricing for the personal lines portfolios, responding to market and competitor movements in an agile and responsive manner
    • Educate stakeholders on how the pricing algorithm operates, recommend efficiencies.
  • Strategy
    • Utilise the supplied technical pricing models to drive pricing outcomes overlaying elasticity models and competitor price movements 
    • Support Portfolio Leads with insights into key segments that are driving material trends in performance and provide recommendations on pricing actions to deliver results against margin and growth targets
    • Contribute valuable insights and actively support the execution of pricing strategies
  • Operational Performance 
    • Provide support for regulatory requests
    • Maintain and update key internal and external pricing data sources to
    • ensure confidence in data integrity
    • Monthly monitoring of price outcomes
    • Liaise with technical pricing teams on monitoring and technical pricing needs
  • Governance & Risk: 
    • Governance through adherence to Group policies
  • People: 
    • Understand the importance of inter-team collaboration in breaking down silos and achieving business results;
    • Have the ability to lead employees from various functions to communicate, coordinate work across divisions, and collaborate in solving problems as one team
    • Demonstrate Closer, Braver, Faster and live by the values of our spirit


Skills & Experience

  • Relevant undergraduate degree or post graduate qualification in Actuarial, Economics, Mathematics or a related field (preferred)
  • Logical, pricing experience, understanding of pricing algorithms
  • Experience of working with big data – SAS/Excel are tools we use for analysis; R would be good to have.
  • Communication skills are important to explain what we find and the impact it has.
  • Home and motor experience would be great, but not necessary 
  • Fellowship of ANZIIF 
  • Ability to manage complexity
  • Expert problem solver
  • Quality focused 
  • Ability to develop, foster and leverage key relationships  


About Us
At IAG, we believe that everyone has a unique point of view to share, shaped by their life experiences, cultures & passions. We celebrate and commit to:

#Proud to be me – we value difference, not sameness
#Together – harnessing our collective wisdom enables us to be our best for our customers & each other
#No boxes – it’s not about labels, boxes or categories. It’s about building a diverse and inclusive mindset into everything we do

IAG is the largest general insurance group in Australia and New Zealand. IAG owns some of the region’s most trusted brands, including NRMA Insurance, CGU, SGIO, SGIC and WFI.


Let’s Talk
Start your career journey with us and click ‘Apply’!
In addition to a diverse and inclusive culture, some of our benefits include 13% superannuation, 50% insurance discounts, flexible work and leave options, generous parental leave and return to work program, recognition and reward program, and various corporate partner discounts.


We encourage Aboriginal and Torres Strait Islanders to apply for this position.


Please note, applications will close Wednesday 25th September.