Head of Cyber Insurance Pricing

Company Description

BlueOptima provides industry-leading objective metrics in software development using our proprietary Coding Effort Analytics; enabling Fortune 500 organizations to deliver better software, faster and more efficiently.

We are developing a cyber insurance product focused on underwriting risks related to software vulnerabilities in medium to large enterprises. Our deep expertise in software risks allows us to develop cutting-edge insurance products in a high-demand market. As we expand, we are looking for a seasoned actuary with a passion for innovation to lead our pricing and risk modelling efforts.

We currently are located in 4 countries: London (our HQ), Mexico, India, and the US. A total number of 110+ employees (and increasing every day) from different nationalities and with over 25 languages spoken.

Job Description

We are seeking a Head of Cyber Insurance Pricing to lead the development of our cyber insurance pricing models, utilizing benchmark data from our extensive risk evaluations of internally developed software vulnerabilities. This role will be critical in shaping our underwriting strategy and ensuring competitive yet profitable pricing of our insurance products. You will work closely with our in-house technical risk experts and underwriters to translate complex software vulnerability risks into actionable pricing strategies.

Responsibilities and tasks:

• Develop and refine pricing models for cyber insurance products, using internal and external data.
• Lead the creation of predictive models for loss frequency and severity related to software vulnerabilities.
• Collaborate with our internal software risk experts to integrate detailed vulnerability risk assessments into the pricing framework.
• Ensure pricing is compliant with insurance regulations across various markets.
• Manage relationships with reinsurers and optimize reinsurance deals.
• Provide insights on capital allocation for risk retention and reinsurance strategies.
• Stay ahead of industry trends, particularly in cyber insurance, regulatory changes, and emerging risks.
• Lead and mentor a growing team of actuarial and risk analysts.

Qualifications

• 7+ years of experience in property & casualty insurance, with a focus on pricing and risk modeling.
• Proven experience in cyber insurance or technology-related risks (preferred) or tech E&O insurance.
• Fellow of the Institute and Faculty of Actuaries (FIA) or Chartered Enterprise Risk Actuary (CERA) designation preferred.
• Strong experience in data analytics, predictive modeling, and working with large data sets (R, Python, SAS, etc.).
• In-depth knowledge of regulatory requirements related to insurance pricing and compliance.
• Excellent communication skills to collaborate with technical experts and convey actuarial insights to non-technical stakeholders.
• Familiarity with reinsurance structures and negotiations.

Additional Information

Why join our team?
Culture and Growth:

• Global team with a creative, innovative, and welcoming mindset
• Rapid career growth and opportunity to be an outstanding and visible contributor to the company's success
• Freedom to create your own success story in a high-performance environment
• Training programs and Personal Development Plans for each employee

Benefits:

• 32 days of holidays (including bank holidays)
• Work from Home Equipment allowance
• Flexible Work from Home - 2 days remote a week 
• Flexible Work from Long Distance - 4 weeks a year 
• 12 Weeks Paid Maternity and Paternity Leave 
• Pet friendly office 
• Sponsored Learning Opportunities
• Cycle2work scheme
• Team Socials
• Annual Leave purchase (up to 5 extra days)

Stay connected with us on LinkedIn or keep an eye on our career page for future opportunities!