Senior Pricing Analyst

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

Job summary

A leading insurance provider in the UK is seeking a Senior Pricing Analyst to enhance pricing strategies across personal lines products. The role involves developing advanced pricing models, utilizing data science techniques, and collaborating with various teams. Ideal candidates will have a strong background in insurance pricing and quantitative analysis, along with proficiency in programming languages like R and Python.

Qualifications

• Previous experience within general insurance pricing.
• Experience with predictive modelling techniques.

Responsibilities

• Develop advanced pricing models using data science techniques.
• Communicate results to decision makers for action.

Skills

Analytical Skills

Communication

Self-Motivated

Logical Thinking

Innovation

Education

Quantitative Degree

Tools

R

Python

SAS

SQL

WTW's Radar Software

Job description

Job Title: Senior Pricing Analyst

Locations: Haywards Heath or Manchester (Hybrid)

Role Overview

Markerstudy Group are looking for a Senior Pricing Analyst to join a quickly growing and developing pricing department across a range of insurance lines.

Markerstudy is a leading provider of private insurance in the UK, insuring around 5% of the private cars on the UK roads, 20% of commercial vehicles and over 30% of motorcycles in total premium levels of circa GBP1.2b. The majority of business is written as the insurance pricing provider behind household names such as Co–op, Sainsbury s, O2, Halifax, AA, Saga and Lloyds Bank to list a few and Markerstudy also has a large and growing direct presence in the market as well.

Having acquired and successfully integrated Co–op Insurance Services in 2021 & BGLi in 2022, Markerstudy are now pursuing innovative pricing techniques, taking advantage of an award–winning insurer hosted rating platform, whilst challenging existing embedded processes.

As a Senior Pricing Analyst, you will use your advanced analytical skills to:

• Be a key stakeholder influencing the direction & outcome of projects across a range of personal lines products.
• Create innovative data solutions finding new ways to mine insight & present data.
• Build and maintain sophisticated models, prioritising a range of data science techniques.
• Develop reporting structures to monitor pricing performance in an automated fashion.

Working with the retail pricing teams and closely with underwriting teams, your insight and recommendations will enable improvements to products and prices giving Markerstudy a critical advantage in the increasingly competitive insurance market.

Key Responsibilities:

• Develop a suite of advanced pricing models using a combination of traditional & data science techniques across Private Car, Commercial Vehicle & Home accounts.
• Advance the adoption of data science & statistical techniques across pricing & underwriting.
• Research and leverage new and existing data sources; capturing and explaining trends with innovative data features.
• Communicate results to key decision makers across the business for action based on the results of pricing analysis.
• Review observed & expected performance of key accounts.
• Collaborate with peers in pricing, underwriting and data science.
• Facilitate automation of repeatable tasks.
• Using specialist software to monitor trends and review impact of pricing proposals.
• Coaching and mentoring team members.

Key Skills and Experience:

• Previous experience within general insurance pricing.
• Experience with some of the following predictive modelling techniques; Logistic Regression, GBMs, Elastic Net GLMs, GAMs, Decision Trees, Random Forests, Neural Nets and Clustering.
• Experience in statistical and data science programming languages (e.g. R, Python, PySpark, SAS, SQL).
• A quantitative degree (Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science).
• Experience of WTW s Radar software is preferred.
• Proficient at communicating results in a concise manner both verbally and written.

Behaviours:

• Self–motivated with a drive to learn and develop.
• Logical thinker with a professional and positive attitude.
• Passion to innovate, improve processes and challenge the norm.