Pricing Analyst

Somerset Bridge; Bristol; Hybrid; GBP 40,000 - 50,000; Full time

Job summary

A leading company is looking for a Pricing Analyst to join their Trading team in Bristol. This role involves driving data-driven decisions for motor insurance products using advanced analytics. Candidates should have a relevant degree, strong analytical skills, and experience in pricing strategies. The position offers hybrid working, an attractive salary, and a comprehensive benefits package including annual leave, pension scheme, and healthcare cash plan.

Benefits

Hybrid working – 2 days in the office and 3 days from home

25 days annual leave, increasing with service

Discretionary annual bonus

Pension scheme – 5% employee, 6% employer

Healthcare Cash Plan

Employee Referral Scheme

Qualifications

• Degree required, preferably in relevant quantitative fields.
• Preferably possess Actuarial or CII qualification.
• Experience handling large datasets.

Responsibilities

• Analyze large datasets; develop and refine pricing models.
• Conduct market research to inform pricing strategies.
• Prepare reports on pricing performance for management.

Skills

Data Analysis

Statistical Techniques

Programming in Python

Communication Skills

Commercial Awareness

Education

Degree in Mathematics, Statistics, Data Science, or related field

Tools

SAS

SQL

Python

R

Job description

Pricing Analyst

Department: [SBL] Trading

Employment Type: Permanent - Full Time

Location: Bristol

Reporting To: Tom Helliwell

Compensation: £40,000 - £50,000 / year

Description

We are recruiting for a Pricing Analyst to join the Trading team within our Underwriting department. This role will play a pivotal role in driving data-driven decision-making for motor insurance products. The individual will leverage advanced analytics, machine learning, and predictive modelling to unlock actionable insights, optimize pricing strategies, and improve overall business performance. The position combines technical expertise with strategic thinking to ensure the company maintains a competitive edge while delivering value to customers.

What you'll be responsible for:

Data Analysis and Pricing Model Development:

• Collect, clean, and analyse large data sets from internal and external sources.
• Assist in developing and refining pricing models using statistical and actuarial techniques.
• Monitor pricing model performance and recommend adjustments based on market trends and emerging risks.
• Have an innovative mind, creating new factors/ideas for pricing.
• Become a technical expert in various areas within the Trading team.

Market and Competitive Analysis:

• Conduct research to understand market dynamics, customer behaviour, and competitor pricing strategies.
• Provide insights to ensure the company remains competitive while maintaining profitability.

Collaboration and Stakeholder Engagement:

• Collaborate with underwriters, product managers, and claims department to ensure alignment between pricing strategies and product development.
• Communicate complex analytical findings and pricing strategies to non-technical stakeholders clearly and effectively.

Reporting and Compliance:

• Prepare detailed reports on pricing performance, profitability, and risk metrics for senior management and regulatory bodies.
• Ensure compliance with regulatory standards and internal governance policies.

Continuous Improvement:

• Identify opportunities to enhance pricing processes and implement innovative approaches.
• Stay updated on industry developments, new tools, and methodologies.

What you'll need:

• Degree qualified in a relevant field (preferably mathematics, statistics, data science, actuarial science, physics, economics, or a related field).
• Actuarial or CII qualification would be an advantage.
• Programming experience in SAS, SQL, Python or R.
• A proven track record of delivering pricing changes with measurable business value.
• Knowledge of how an insurance product is priced from start to finish.
• Knowledge of the motor insurance market.
• Experience with large (1m+ rows, 1k+ columns) data sets.
• Commercial awareness and drive for practical outcomes.
• Question everything; search for innovative new solutions.
• Good communication skills; ability to present complex data insights clearly and persuasively to both technical and non-technical audiences (both in writing and verbal).

Our Benefits:

• Hybrid working – 2 days in the office and 3 days working from home
• 25 days annual leave, rising to 27 days over 2 years’ service and 30 days after 5 years’ service. Plus bank holidays!
• Discretionary annual bonus
• Pension scheme – 5% employee, 6% employer
• Flexible working – we will always consider applications for those who require less than the advertised hours
• Flexi-time
• Healthcare Cash Plan – claim cashback on a variety of everyday healthcare costs
• Electric vehicle – salary sacrifice scheme
• 100’s of exclusive retailer discounts
• Professional wellbeing, health & fitness app - Wrkit
• Enhanced parental leave, including time off for IVF appointments
• Religious bank holidays – if you don’t celebrate Christmas and Easter, you can use these annual leave days on other occasions throughout the year.
• Life Assurance - 4 times your salary
• 25% Car Insurance Discount
• 20% Travel Insurance Discount
• Cycle to Work Scheme
• Employee Referral Scheme
• Community support day