London / Hybrid
Competitive Salary + Bonus, Benefits
Permanent / 37.5 hours a week
About Bupa…
We’re a leading health insurer and healthcare provider, with care homes, health centres, dental practices and a hospital. With no shareholders, our customers are our focus. We reinvest profits into providing more and better healthcare for the benefit of current and future customers. Your input will support Bupa to deliver on our purpose, helping people live longer, healthier, happier lives.
Bupa has 43 million customers globally and revenue in 2022 was circa £14 billion. Passionate about sustainability, Bupa’s ambition is to be net-zero by 2040.
About the area you’ll be working in…
This Pricing Actuary (Projects) will partner with internal and external stakeholders to drive pricing transformation for our private medical insurance products. In addition to our UK market, you will also support pricing projects for ‘Bupa Global’ market (Ireland, Middle East etc). As a Senior Actuary, you will closely support the Heads of Actuarial Pricing at Bupa, in addition to partnering with Bupa’s finance teams.
Role Summary:
- Ownership of commercial actuarial projects (inc. actuarial pricing and underwriting)
- Pricing optimisation and sophistication
- Collaborate with Pricing Development, Delivery and Technical Actuarial teams
- Pricing models – Generalised linear modelling, pricing elasticity, customer lifetime value models, sales conversion models, customer retention models, pricing segmental conventions and competitor pricing
- Identify best practice approaches to pricing used in the insurance market
- Seek synergies in pricing – UK and international
- Development & maintenance of documented Underwriting & Pricing Strategy
- Advise on the reinsurance arrangements
- Convert Annual Operating Plans (AOPs) into Annual Pricing Plans
- Mergers & Acquisitions – provide actuarial subject matter expertise
- System implementation support (Radar)
About you…
- Qualified Actuary (FIA/ IFoA) with significant relevant experience
- General Insurance or Health Insurance background
- Technical actuarial expertise (assumption setting, financial management technical methods and modelling)
- Experience of leading projects of a relevant size and scale
- Ability to build strong partnerships with internal and external stakeholders
- Brave, Caring, Responsible – Bupa values
Benefits at Bupa
Our benefits are driven by what matters to our people. It’s important to us that these benefits support a work-life balance that keeps people healthy, both mentally and physically. Benefits include:
- 25 days holiday, increasing through length of service, option to buy or sell
- Annual performance-based bonus
- Car Allowance
- Bupa health insurance as a benefit in kind
- An enhanced pension plan & life insurance
- Various other benefits and online discounts
Diversity and Inclusion
Here you’ll be welcomed. We champion diversity and we understand the importance of our people representing the communities and customers we serve. You’ll find an inclusive environment where you can be yourself and where everyone is driven by the same purpose – helping people live longer, healthier, happier lives.
Bupa is committed to making sure that every applicant is assessed solely on personal merit and qualifications. We actively celebrate the diversity of our colleagues and provide an inclusive environment so you can bring your true self to Bupa. We’ll make sure you are treated fairly regardless of disability or circumstance. That’s why we’re happy to offer reasonable adjustments as part of our recruitment process to anyone that needs them.