Insurance Pricing Analyst - Folkestone Hybrid

SAGA PLC; Plymouth; Hybrid; GBP 30,000 - 40,000; Full time

Job summary

A leading UK provider for over 50s is looking for a Pricing Analyst to join their team in Plymouth. This role involves using data to drive commercial value, develop pricing models, and contribute to the overall P&L strategy. Ideal candidates will have a strong educational background in mathematics and skills in data organisation and critical thinking. The company offers a hybrid work environment and comprehensive benefits including holidays and bonus schemes.

Benefits

25 days holiday

Pension scheme matched up to 10%

Performance related annual bonus

Life assurance policy

Enhanced maternity and paternity leave

Qualifications

• Strong mathematical education (A in either Maths or Further Maths A-Level).
• 1st or 2:1 in a mathematical or equivalent degree (including Actuarial Science & Statistics).
• Understanding of how to organise data so it can be used to identify trends.

Responsibilities

• Use data to find areas of opportunity for commercial value.
• Model and monitor business data to identify market trends.
• Develop pricing models for the rating system.

Skills

Numerical reasoning skills

Critical thinking skills

Data organization

Commercial awareness

Education

A in Maths or Further Maths A-Level

1st or 2:1 in a mathematical or equivalent degree

Tools

Radar software

Job description

As a Pricing Analyst you will be contributing to Saga's street pricing to support the delivery of the insurance strategy, customer outcomes and contribution to the achievement of the overall P&L for Saga Services (SSL). As a graduate or recent graduate, you’ll join the wider team, and your work as our new Pricing Analyst will contribute to helping our pricing capabilities become the market-leading standard. You will come from a mathematical background, bringing with you an understanding of how to organise data and identify trends.

With a detailed onboarding plan, we will introduce you to the world of pricing and personal lines insurance, setting you up for a successful career. In this role, you will work closely with your immediate pricing team to develop and monitor pricing models, prepare data for modelling, select and apply appropriate statistical techniques and make judgements and recommendations for price changes. This fantastic role is complex and challenging and can make a key difference to the company’s future profitability. You can expect to make real contributions to a variety of projects from the outset. We work in a hybrid way at Saga both at home and in the office. This role requires you to be working from our Folkestone office twice a week, allowing us to collaborate and share success as a business.

Role Responsibilities

• Proactively use data to find areas of opportunity to drive commercial value and competitive advantage, delivering profitable growth for Saga’s insurance business.
• Model, interpret and monitor business data to identify and confirm market trends, product opportunities and new / changing rating factors.
• Assist in development of pricing models for deployment to the rating system, making best use of Radar and other software tools.
• Make recommendations to pricing leads based on your analysis.
• Mine, extract and interpret data to bring out insights, using innovative techniques, including machine learning.

Qualifications

• Strong mathematical education (A in either Maths or Further Maths A-Level).
• 1st or 2:1 in a mathematical or equivalent degree (including Actuarial Science & Statistics).
• Understanding of how to organise data so that it can be used to identify trends and anomalies.
• Numerical reasoning skills to be able to explain observed trends in data with logical argument.
• Critical thinking skills to assimilate information from various sources to form and prove hypotheses and use judgement and all available information to test and validate hypotheses.
• Use estimates, judgement, and risk-based assessments to make recommendations for action even in the absence of full information.
• Commercial awareness; be able to articulate the financial impacts of your work.
• Customer focus: demonstrate that you have considered the customer impact of your work.
• Communicate technical concepts clearly, and understand how to put across complex subjects to a wide and varied audience.

Saga Values

Make it Happen, Do the Right Thing, Customer First, Excellence Every Day, Our People Make Us Special

Benefits

• 25 days holiday + bank holidays
• Option to purchase additional leave - 5 extra days
• Pension scheme matched up to 10%
• Company performance related annual bonus - Up to 5%
• Life assurance policy on joining us, 4 x salary
• Wellbeing programme
• Colleague discounts including family discounts on cruises, holidays and insurance
• Range of reductions and offers from leading retailers, travel groups and entertainment companies
• Enhanced maternity and paternity leave
• Grandparents leave
• Income protection
• Access to Saga Academy, our bespoke learning platform

About the Company

Over the past 70 years we have become the UK’s specialist provider of products and services to people aged over 50 in the UK. The Saga brand has become one of the most recognised and trusted brands amongst UK consumers in this demographic, recognised for its high quality products and exceptional standards of service. These include cruises and holidays, insurance, personal finance and the Saga Magazine.

Legal & Equality Statements

We are committed to treating all employees fairly and to offering equal opportunities in all aspects of employment and advancement. We value diversity not just because it is the right thing to do, but because diverse teams perform better. Fair consideration is given to applications from all applicants, including those with disabilities and those over 50 as we are champions of age inclusivity. We are an official Disability Confident Committed employer and ensure that our recruitment process is inclusive and accessible and we will make reasonable adjustments as required. For more information on our DEI policies please visit our Saga Careers page.