Pricing Actuary, Bupa Global

Main Responsibilities

The Pricing Actuary will support the Lead Pricing Actuary, and in some cases may be called to lead, in:

• Developing and enhancing actuarial models, assumptions, pricing approaches, tools and processes owned by the pricing actuarial function;
• Generating practical business insight and value from predictive models;
• Preparing the annual pricing reviews for community-rated plans;
• Contributing in the review and implementation of customer fairness and regulatory considerations as it relates to pricing;
• Acting as actuarial resource in new product development workstreams;
• Reporting of pricing indicators and segment forecasting;
• Business planning and forecasting; and
• Meeting the requirements of governance process and controls to demonstrate pricing maturity.

The jobholder may also be assigned to support day-to-day delivery requirements and development activities in other actuarial pillars.

The Ideal Candidate

• At least 5 years’ experience in an actuarial role, preferably with some years in pricing. The ideal candidate would have experience in most or all of these engagements:
• Extracting and manipulating large data sets (essential);
• Developing predictive models used in insurance such as loss frequency, severity, lapse, and conversion;
• Forecasting of premium and claim cashflows;
• Measurement and monitoring of pricing assumptions and customer behavioural metrics;
• Pricing of new insurance products;
• Developing pricing-related tools for use by other functions.
• No health insurance experience is required but the ideal candidate would need to at least have strong interest in expanding his/her knowledge of the private medical insurance business (its products, target markets, and regulatory and customer fairness considerations)
• The ideal candidate would need to be open to learning and using only data and predictive modelling software as and when they are approved by the company, which is currently SAS/STAT and Emblem/Radar and be respectful of the constraints on modelling platforms and capabilities in place to protect customer and company data
• Have working knowledge of insurance risk including its drivers and controls, insurance company cashflows and operations
• Pragmatism to deliver the right level of solution to an actuarial problem appropriate to time and resource constraints
• Demonstrated ability to deal with changing priorities and ability to work with little supervision
• Can work collaboratively, shows a high level of engagement even when working with teams remotely, and responsive (provides regular feedback)

About The Company

Bupa’s purpose is longer, healthier, happier lives.

As a leading global health and care company, we offer health insurance, medical subscription and other health and care funding products; we run care homes, retirement and care villages, primary care, diagnostic and wellness centres, hospitals and dental clinics. We also provide workplace health services, home healthcare, health assessments and long-term condition management services. We have 32M customers globally. With no shareholders, we invest our profits to provide more and better healthcare and fulfil our purpose. We employ 86,000 people, principally in the UK, Australia, Spain, Poland, New Zealand and Chile, as well as Saudi Arabia, Hong Kong, India, and the USA.

We have grown significantly, particularly through 2013 to 2015, when we accelerated execution of our strategic vision. We are similar in revenue and profit to Marks & Spencer, and larger than Heinz in revenue. Because Bupa does not have shareholders it does not have a listing, but if it did it would be in the FTSE 100. Bupa is not a mutual or a charity but a company limited by guarantee that seeks to maximise its profits in order to fulfil its purpose. With customers in virtually every country in the world and 70% of its revenues now generated outside the UK, Bupa is a truly international organisation.
 

Bupa's Strategic Framework

Our strategy has three pillars: Customers, People, Performance. It puts our customers front and centre in the context of today’s digital age. As a service organisation, everything we do for our customers relies on our people and partners, so being a place where people love to work is critical to our success. This, combined with disciplined risk and capital management, is how we will deliver strong and sustainable performance.  We are looking for individuals who share in our values and this strategy, and are capable of delivering outstanding results for the business.
 

International Markets

Bupa’s International Markets (IM) unit has 16 million customers across all continents around the world. It manages a portfolio of businesses, including a large international health insurance, travel insurance and medical assistance business called Bupa Global, as well as established domestic health insurance businesses in Hong Kong and Brazil, two associate health insurance companies in Saudi Arabia (34.25% Bupa ownership) and India (49% Bupa ownership), and Hong Kong’s largest private clinic network.  
 

Bupa Global

Bupa Global provides products and services worldwide to people who want access to premium health and care at home or as they study, live, travel or work abroad. We provide international health insurance, travel insurance and medical assistance to individuals, small businesses and global corporate customers all around the world.

Bupa Global has over 1,800 employees and has offices in London and Brighton (UK), Miami (USA), Copenhagen (Denmark), Hong Kong (Greater China), and Dubai (UAE), as well as in Egypt, Mexico, the Dominican Republic, Bolivia, Panama, Guatemala and Ecuador. Bupa Global is currently organised around five regional hubs: Bupa Global Africa, India & Middle East; Bupa Global Greater China; Bupa Global Latin America; Bupa Global North America and Bupa Global Europe.

About Bupa Global and Bupa International Markets

Bupa's Strategic Framework

Our strategy has three pillars: Customers, People, Performance. It puts our customers front and centre in the context of today’s digital age. As a service organisation, everything we do for our customers relies on our people and partners, so being a place where people love to work is critical to our success. This, combined with disciplined risk and capital management, is how we will deliver strong and sustainable performance.  We are looking for individuals who share in our values and this strategy, and are capable of delivering outstanding results for the business.

International Markets

Bupa’s International Markets (IM) unit has 16 million customers across all continents around the world. It manages a portfolio of businesses, including a large international health insurance, travel insurance and medical assistance business called Bupa Global, as well as established domestic health insurance businesses in Hong Kong and Brazil, two associate health insurance companies in Saudi Arabia (34.25% Bupa ownership) and India (49% Bupa ownership), and Hong Kong’s largest private clinic network.  

Bupa Global

Bupa Global provides products and services worldwide to people who want access to premium health and care at home or as they study, live, travel or work abroad. We provide international health insurance, travel insurance and medical assistance to individuals, small businesses and global corporate customers all around the world.

Bupa Global has over 1,800 employees and has offices in London and Brighton (UK), Miami (USA), Copenhagen (Denmark), Hong Kong (Greater China), and Dubai (UAE), as well as in Egypt, Mexico, the Dominican Republic, Bolivia, Panama, Guatemala and Ecuador. Bupa Global is currently organised around five regional hubs: Bupa Global Africa, India & Middle East; Bupa Global Greater China; Bupa Global Latin America; Bupa Global North America and Bupa Global Europe