Tesco Insurance Reigate Apply by 11-Apr-2025
About the role
Serving our customers, communities, and planet a little better every day.
Salary - Between £38K - £50K+ DOE + annual bonus & benefits
Location – Reigate (Hybrid working)
Office Attendance- Our roles are hybrid, you should be able to travel to our Reigate office, 2 days per week.
Closing Date - Applications close 11 April 2024 at 5pm.
We deal in the personal – from pet insurance for your best friend, and home insurance for peace of mind, to motor insurance for your dream car or travel money for that trip you’ve worked hard for. And that means we always work with heart. Whether we’re helping our customers or looking after our people, you’ll find there’s a warmth and friendliness to everything we do.
Opportunity
This is an exciting opportunity for an Actuarial Analyst, within the Reserving Team. In this role you’ll support the Reserving Department in relation to internal reserve reviews. Working in the Non-Life Actuarial team and reporting to the Head of Reserving will allow you to progress your career using your enthusiasm and commitment providing appropriate contribution to reserving aspects of the Actuarial team’s work.
You’ll be responsible for developing and positively maintaining a range of internal relationships across all key departments within the company and through internal inter-departmental committees and groups, including the Tesco Underwriting (“TU”) Management Team whilst establishing and maintaining positive relationships with the company’s internal and external auditors and other key contacts.
The Role
• Assisting in reserving related analysis on both an IFRS and SII basis; ensuring the business meets internal and regulatory requirements
• Undertaking data processing on claims and policy data
• Using appropriate actuarial and statistical methods to assist in the production of reports as required by the Actuarial department
• Developing, implementing and maintaining data requirement sets/systems to ensure the delivery of accurate, relevant and timely management information, including actuarial software
• Playing a pivotal role in the model development, documentation update and reporting.
• Supporting the reserving team in improvements of existing processes and refinement of an IFRS 17 framework
• Developing and maintaining a range of internal relationships, in particular Underwriting, Risk, Claims and Finance colleagues
• Expected to input to the development of new methods supporting the improvement of the actuarial function
• Maintaining data requirements and data links between datasets used to support internal reserve reviews. Support to help ensure high level of data quality and accurate management information is provided. Adhere to the TU Financial and Risk Data Management Policy.
Experience and skills for Actuarial Analyst:
• Student Actuary – ideally you’ll have reserving experience in general insurance although similar experience in pricing and/or capital would be considered
• Degree or equivalent qualification or experience in mathematics or a suitably related discipline
• Ability to think logically; evidence of good investigative and analytical skills
• Able to exercise sound judgement and decision making
• Strong data processing skills
• Familiarity with VBA, SAS and ResQ would be beneficial but is not essential, although we would be looking for someone willing to learn these products through in house training and on the job experience
• In-depth experience of using Microsoft Excel software
• Ability to communicate clearly and concisely through different mediums, including report writing
• Proven ability to work as part of a team, fostering positive relationships and providing mutual support and guidance.
What you’ll be doing
• Quarterly Reserve Reviews
• Maintaining and developing relationships with internal and external stakeholders
• Presentation both written and verbal
• Working within a team and reaching out to all areas of the business
• Developing and fostering new ideas
We need you to have
• Experience in P&C reserving.
• To have started and made progress through the IFoA (or similar) exams.
• Flexibility to adapt to the changing insurance market.
• Willingness to work as part of a team.
And if you have any of these, even better
• Experience with ResQ.
• Exposure to IFRS17 and capital and/or pricing.
• Experience with personal lines.
We don’t expect you to tick every box, and if you feel you hit most of the brief, it’s worth exploring to further develop your career here with us.
What’s in it for you?
• Prepare for your retirement with our colleague pension scheme.
• Virtual GP Service for you and your family 365 days a year, with access to Critical Illness cover.
• Performance related annual bonus.
• Indulge in a generous holiday allowance with a minimum of 7.2 weeks, with the opportunity to buy more.
• Embrace the benefits of our Colleague Clubcard, enjoy a 10% discount that increase to 15% every payday (worth up to 2K). As an added perk, we’ll give you a second card to share with someone else.
• Benefit from our family-oriented initiatives, encompassing enhanced maternity leave pay, a shared parental leave policy, and a generous 8-week paid paternity leave.
• A place to get on - take advantage of our ongoing learning opportunities and award-winning training, to help you achieve the job and career you want.
• Take part in our Buy as you Earn and Save as your Earn share schemes and a Green Car Leasing Scheme.
Everyone’s welcome
We want all our colleagues to always feel welcome and be themselves at Tesco Insurance and Money Services. We’re committed to building a more inclusive workplace and celebrating everything that makes colleagues unique, and value the richness and diversity this brings to our business. A more diverse business helps us deliver on our purpose to serve our customers, communities, and planet a little better every day.
Additional Information
We deal in the personal – from pet insurance for your best friend, and home insurance for peace of mind, to motor insurance for your dream car or travel money for that trip you’ve worked hard for. And that means we always work with heart. Whether we’re helping our customers or looking after our people, you’ll find there’s a warmth and friendliness to everything we do.
Interviews
Interviews are expected to be held from April 2025.
Why Tesco Insurance and Money Services?
Seeing your impact all around you: there's no better feeling.
Lucky for us, we get to feel it all the time. Because whatever our role, we're helping our colleagues and serving our customers, communities and planet a little better every day.
We deal in the personal – from pet insurance for your best friend, and home insurance for peace of mind, to motor insurance for your dream car or travel money for that trip you’ve worked hard for.
Everything we do is about making things better. Not just for others, but for you too. It's why you'll get bags of choice and plenty of development. It's why you'll always be heard and find balance that works for you. It's why you'll feel totally at home in a place where everyone's welcome.
So, if you want a career where you can do good and feel good, you've found it.
Let's make everyday a little better.
Our story
Making Insurance and Money Services more rewarding and offering great value and choice - because we know little wins can make a big difference.
We began life in 1997 and now help more than 2 million customers protect what matters to them.
We want to deliver a helpful service in everything we do and to make life easier for our customers. Our policies are really easy to manage online for our customers, but we know that being able to speak to our customer service staff when you need to is really important. This is why our customer service centers are open seven days a week.
Delivering great customer service means having great people behind the scenes – people who understand our customers and are driven by doing the right thing for them. We offer colleagues a place where they can feel totally at home in a place where everyone's welcome, where they can be part of a great team focused on making a real difference for our customers.
How to apply
We value our people and diverse teams and believe the variety of backgrounds and experiences make us stronger to achieve our goals.
Our colleagues are working hybrid, taking time to meet with colleagues in our offices for moments that matter, such as team catch ups, planning meetings and more. If you’re interested in finding out more about what a career at Tesco Insurance and Money Services looks like, click apply to find out more!