Head of Cyber Insurance Pricing

at  BlueOptima

Company Description
We are a rapidly growing cyber insurance company 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.
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 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.

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

• 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.