Senior Pricing Analyst (Risk)

Vermelo RPO; United Kingdom; Hybrid; GBP 50,000 - 70,000; Full time

Job summary

A leading UK insurance provider is looking for a Senior Risk Pricing Analyst to enhance their pricing department. The role involves developing pricing models, utilizing data science techniques, and mentoring junior members. This hybrid position offers flexibility and collaboration with various teams to drive innovative pricing strategies.

Qualifications

• Experience in general insurance pricing.
• Proficiency with predictive modeling techniques.

Responsibilities

• Develop advanced pricing models for Personal Lines products.
• Promote data science methods within pricing teams.
• Communicate insights to decision-makers.

Skills

Communication

Data Science

Statistical Methods

Education

Degree in Mathematics

Degree in Statistics

Degree in Engineering

Degree in Physics

Degree in Computer Science

Degree in Actuarial Science

Tools

R

Python

PySpark

SAS

SQL

WTW's Radar

Job description

Job Title:

Senior Risk Pricing Analyst

Locations:

Haywards Heath or Manchester (Hybrid, 1-2 days in the office)

Role Overview

Markerstudy Group is seeking a Senior Risk Pricing Analyst to join our rapidly expanding pricing department across various insurance lines.

Markerstudy is a leading UK private insurance provider, insuring approximately 5% of private cars, 20% of commercial vehicles, and over 30% of motorcycles, with total premiums around £1.2 billion. We work with household names such as Co-op, Sainsbury's, O2, Halifax, AA, Saga, and Lloyds Bank, among others. Additionally, we have a significant direct market presence.

Following the acquisitions of Co-op Insurance Services in 2021 and BGLi in 2022, we are adopting innovative pricing techniques, leveraging our award-winning insurer-hosted rating platform, and challenging traditional processes.

Key Responsibilities

• Develop advanced pricing models using traditional and data science techniques for Personal Lines products.
• Promote the adoption of data science and statistical methods within pricing and underwriting teams.
• Research and utilize new and existing data sources to identify trends and develop new data features.
• Communicate insights and results effectively to key decision-makers to inform pricing strategies.
• Monitor and review the performance of key accounts.
• Collaborate with pricing, underwriting, and data science teams.
• Automate routine tasks to improve efficiency.
• Use specialized software to track trends and assess the impact of pricing proposals.
• Mentor and coach junior team members.

Key Skills and Experience

• Experience in general insurance pricing.
• Proficiency with predictive modeling techniques such as Logistic Regression, GBMs, Elastic Net GLMs, GAMs, Decision Trees, Random Forests, Neural Networks, and Clustering.
• Proficient in programming languages like R, Python, PySpark, SAS, and SQL.
• Degree in Mathematics, Statistics, Engineering, Physics, Computer Science, or Actuarial Science.
• Experience with WTW's Radar software (preferred).
• Strong communication skills, both verbal and written.

Behaviours

• Self-motivated with a desire to learn and develop.
• Logical thinker with a professional attitude.
• Innovative mindset with a passion for process improvement and challenging norms.
• Personality with a good sense of humour.