Portfolio Optimisation Lead

Job Locations UK-London
Job Post Information* : Posted Date 2 months ago(10/02/2023 14:00)
Job ID
# of Openings
Underwriting Management


Portfolio Optimisation Lead

Reporting to: Head of Portfolio Management
Location: London


About us


IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.


ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.


The role


We are looking for a candidate with very strong actuarial and commercial expertise who will work with senior underwriters, pricing and the capital team to help manage the overall group portfolio, taking account of the overall business goals and strategy


Key responsibilities


  • Working with underwriters, pricing actuaries and the capital team:
  • Analyse combinations of transactions to ensure that the portfolio is optimal to achieve the group objectives.
  • Model potential scenarios and assist senior management to refine strategy based on market conditions, claims and premiums.
  • Provide regular MI to senior management to support proposals and recommendations
  • Support optimisation of outwards reinsurance in conjunction with the inwards portfolio.
  • Assess different classes of business to determine the relative attractiveness and advise on the composition of the group portfolio.
  • Suggest constraints to work within and continuously monitor portfolio against benchmarks.
  • Implement a suite of portfolio optimisation tools and automate the portfolio optimisation process, where possible.
  • Work with the other teams to ensure adequate information and modelling required for optimisation is supplied.
  • Provide ideas, feedback, and assessment of new business opportunities and partnerships, including accretive classes of business.
  • Liaise with brokers and cedants to understand market dynamics and source data which provides additional insight.


The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.


Key Desirable attributes


  • Actuarial skills at the level of an experienced qualified UK actuary.
  • Ability to implement and build optimisation algorithms with a sound understanding of the underlying mathematics.
  • Advanced skill in using data manipulation & statistical software packages such as Python, R and SQL.
  • Knowledge and skills relating to the management of insurance data.
  • Strong written and face to face communication skills including Board level presentation skills.
  • Leadership skills and the ability to work at a senior level.
  • Familiar with latest data science techniques and technologies.


Key Personal desirables


  • Team player and ability to motivate others.
  • Highly organised with a clear ability to prioritise and deliver on allocated tasks.
  • Persuasive and ability to influence
  • Agile and resourceful – focused on finding solutions
  • Strong interpersonal and relationship building skills.
  • Innovative and able to generate creative solutions.
  • Growth mindset and eagerness to continuing developing skills


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