Manager- Catastrophe Modelling (Property)

Job Description

Purpose of the Job:

Ki is a fast-growing and evolving Insurance/Technology business, sponsored by one of the leading Lloyd’s Managing Agencies, Brit and leading global investment firm Blackstone. Ki is a standalone business, trading digitally through its platform with brokers in Lloyd’s across 30-plus classes of business. Ki was founded with its best-in-class partners – Brit, Fairfax, Blackstone, Google, UCL and Lloyd’s.
Ki brings a collective of insurance and tech experts together to build a new approach to risk. Ki Syndicate 1618 began underwriting in 2021 and recorded over $400m of GWP in its first year, growing to over $800m in its second, making Ki one of the largest start-ups in Lloyd’s history. Our guiding philosophy is to transform a traditional industry using technology and data.

The purpose of the role:
To ensure that the team provides underwriters with a fast, consistent and accurate service in line with risk aggregation strategy agreed with the Senior Manager (Catastrophe Modelling) and Risk Director.

To ensure complete and accurate exposure data and modelled loss information, in line with risk aggregation strategy, is available to provide internal and external stakeholders with appropriate reporting within agreed timeframes to enable compliance with internal and regulatory requirements.

To ensure business understanding of its risk profile in order to achieve an efficient deployment of aggregate.

To continuously strive to develop, streamline and implement best practice processes, tools and analytical reporting for the risk aggregation function whilst aligning processes across classes of business and different uses of modelling (e.g. ORI and Pricing).

To manage the daily workload, relationship and output of the outsourced business partner in respect of relevant modelling and data entry.

Principal Accountabilities:
To work with the risk aggregation team members and other relevant functions (capital modelling, actuarial and ERM) to ensure that modelling processes and assumptions are closely aligned, operate as intended and meet all regulatory requirements.
• To provide the relevant pricing, rollup, analytics, management information and reporting to the relevant stakeholders (e.g. underwriting and ORI placement teams) with a high degree of accuracy and timeliness.
• To manage the quality of exposure data and the production of data from Ki’s processing teams.
• To provide the relevant subject matter expert input into wider risk aggregation projects and deliverables (e.g. Ki view of risk and ORI).
• To interact with and maintain good relationships with all internal and external stakeholders (e.g. model vendor and brokers).
• To assist the other members of the Risk Aggregation team where necessary.
• Work cross-functionally with other team members to support product development and advance Ki’s view of risk across various classes of business and product offerings.
• Work cross-functionally with other team members to support the delivery of new revenue opportunities.
Regulatory Conduct Rules
1. Act with integrity.
2. Act with due skill, care, and diligence.
3. Be open and cooperative with Lloyd’s, the FCA, the PRA, and other regulators.
4. Pay due regard to the interests of customers and treat them fairly.
5. Observe proper standards of market conduct.

Ki’s values

Know Your Customer
Put yourself in their shoes. Understand and balance the different needs of our customers, acting with integrity and empathy to create something excellent.

Grow Together
Empower each other to succeed. Recognise the work of our teams, while celebrating individual success. Embrace diverse perspectives so we can develop and grow together.

Be Courageous
Think big, push boundaries. Don’t be afraid to fail because that’s how we learn. Test, adapt, improve -
always strive to be better.

Education, Qualifications, Knowledge, Skills and Experience:
The incumbent must demonstrate the following:

Personal Specification
• Educated to degree level or equivalent and a willingness to undertake continuous personal and professional development.
• A good understanding of actuarial concepts is desirable.

Knowledge and Experience
• Property Class experience essential.
• Minimum 3 years Catastrophe Modelling experience using RMS/AIR/EQE or relevant actuarial experience.
• Expert knowledge of AIR Touchstone is desirable.
• Advanced IT skills, especially MS Excel, VBA and SQL. Other programming languages is desirable.

Aptitude and Disposition
• A strong understanding of the (re)insurance industry and catastrophe modelling concepts.
• Strong communication skills with the ability to communicate with all levels.
• High level of numeracy skills.
• Project management skills.
• Effective management skills, preferably with experience of managing overseas teams, with the ability to train and oversee the modelling team.
• The ability to manage third parties effectively to achieve results.
• The ability to independently prioritise tasks and meet tight deadlines.