Reserving Analyst

Birmingham | Haywards Heath | London | | Full-Time, Permanent

Job summary

As our new Reserving Analyst you will be a key figure in driving the evolution and growth of Bought By Many - one of the Europe’s most successful insurtechs. As part of the Reserving team, you’ll support and innovate reserving processes across our Pet insurance books, both in the UK and Sweden and as we develop internationally.

You will be working closely with the Pricing, Product Development and Partnership teams to support commercials and loss ratio targets. You’ll be very closely aligned with Data Science, as well as Claims, Tech and Marketing in our rapidly evolving business. 

 This is an Actuarial Reserving role that is truly immersive across the business. There is significant opportunity to engage with all aspects of BBM and to develop technical skills in data science, pricing and product development, as well as opportunity to gain exposure to wider parts of the business.

Your key responsibilities

  • Supporting the actuarial reserving processes for the Cat & Dog business line across the UK, Sweden and other new territories.
  • Assisting with quarterly deep dives into methodology, assumptions and development patterns.
  • Communicating results effectively to realise business gains from valuable reserving insight.
  • Ensuring quality and accuracy in reserving output and recognising (and acting) on trends seen within pet insurance, during reserving exercises.
  • Building a strong relationship with our underwriting partners to deliver an accurate assessment of Bought by Many’s performance as an MGA: ensuring high levels of trust and mutual success.
  • Supporting technical enhancement to our reserving processes with an opportunity to advance the use of open-source software and new reserving techniques.
  • Creating reserving and loss ratio reporting templates for new products and/or territories.
  • Delivering a transparent reporting and management information and partnering with the team to deliver information for our Board, Investor packs and monthly Finance meetings. Providing input into the scope and breadth of our analytics and diagnostic tools.
  • Supporting development of enhanced claims analytics, frequency/severity and peril analysis and support tech initiatives around the business, including claims automation and fraud detection.
  • Maintaining and developing an effective Loss Ratio estimation process.
  • Claims forecasting for existing and new products. 

How you’re measured

Here are a few of the skills we are looking for in this position. Don’t worry if you don’t tick every box as it’s important for us to support you in your role and help you to develop along the way.

·         You'll understand the key actuarial principles behind loss reserving.

·         You are up to date with technical developments in the insurance industry.

·         You are detail focused, analytical and able to communicate outputs clearly and simply.

·         You'll be commercially minded - with a consumer conscience.

·         People describe you as a self-starter and team player - someone who enjoys both informing and making recommendations.

·         You take pride in your delivery and output - you enjoy going beyond the basics.

·         You can build good relationships with a range of stakeholders; you are confident communicating your ideas to any audience and can effectively influence decisions.

What you bring

Experience and qualifications

  • Some commercial experience in an actuarial or data science role, preferably direct or aggregator-led personal lines insurance. You may be in your first job after graduating and be looking for your next dream opportunity.
  • Owing to the nature of the role, we will need you to have a degree-level qualification (or equivalent) in Mathematics, Science, Engineering or a related degree.
  • You'll know Excel, and any experience in SQL would be a big plus.
  • Ideally, you will bring an understanding of the dynamics of personal lines insurance (pet insurance experience an advantage, but not essential!)

Bought By Many is making the world a better place for pet parents. Award-winning innovative technology and exceptional customer service are at the heart of our offer: we now rank 30th on the Tech Track 100 (2020) and we won the Insurance Choice Awards (2020) for both Best Pet Insurance Provider and Innovation of the Year. We’re proud to be driving unprecedented change in insurance and have doubled our revenues annually for the last 4 years with more ambitious growth still to come.

Our latest Series D funding round was $350m which values us at $2bn. All this was made possible by the hard work from our incredible colleagues around the world; and we’re excited to embark on the next stage in our journey. Our company is fast-paced, respectful, fun-loving and (most importantly) passionate about pets and their well-being.

We think big and we can only do that if we have a wonderful array of different people with different lived experiences and backgrounds, bringing their whole self to work every day. Throughout the business, you will meet people who think differently, aim for impact, and love to try new things.

What it’s like to work here?

Our company is fast-paced, respectful, fun-loving and (most importantly) passionate about pets and their well-being. We think big and we can only do that if we have a wonderful array of different people with different lived experiences and backgrounds, bringing their whole self to work every day. Throughout the business, you will meet people who think differently, aim for impact, and love to try new things. 

Our physical offices are bright and open with plenty of treats and extras and we provide practical support and best-in-breed kit for homeworking.  We are a connected and sociable business and like to spend time together in regular fun activities, both online and in person (when we can!).

We work together as one team and we share the same values:

  • Show you care
  • Do the right thing
  • Work in partnership
  • Dare to think big
  • Be tenacious and be fast

Award-winning innovative technology and exceptional customer service are at the heart of our offer: we now rank 30th on the Tech Track 100 (2020) and we won the Insurance Choice Awards (2020) for both Best Pet Insurance Provider and Innovation of the Year.

Our latest Series D funding round was $350m which values us at $2bn.  All this was made possible by the hard work from our incredible colleagues around the world; and we’re excited to embark on the next stage in our journey. We’re proud to be driving unprecedented change in insurance and have doubled our revenues annually for the last 4 years with more ambitious growth still to come. 

Salary

Competitive


Benefits


Hours of work


Line manager

Reserving Lead


Locations

Alpha Tower, Suffolk Street Queensway, Birmingham B1 1TT

Oakfield House, 35 Perrymount Road, Haywards Heath, West Sussex, RH16 3BW

Unit 1B, 1-10 Summers Street, Farringdon, London EC1R 5BD

Apply for Role

Submit your details and CV here to apply.

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To create an insurance policy that actually makes insurance better for everyone, companies need to look beyond just making things clearer and fairer.
Guy Farley, CTO & Co-founder