Pricing Analyst

Ageas UK; London; Hybrid; GBP 34,000 - 40,000; Full time

Job summary

Ageas UK seeks a Risk Pricing Analyst to support pricing strategies through data analysis and statistical modelling. This role is essential for evaluating risk and optimizing pricing actions, making a direct impact on profitability. Flexible working arrangements, generous holidays, and various health and financial benefits are provided.

Benefits

Flexible Working

Annual Bonus Schemes

Competitive Pension

Health Cash Plan

Minimum of 35 days holiday

Qualifications

• Knowledge of insurance products and distributions.
• Experience in data manipulation and statistical exploration.
• Familiarity with predictive modelling techniques is beneficial.

Responsibilities

• Develop and maintain datasets for pricing and modelling.
• Conduct pricing analyses and model development.
• Monitor pricing performance against company targets.

Skills

Statistical analysis

Data management

Predictive modelling

Programming (SAS)

Insurance product knowledge

Tools

SAS

R

Python

Job description

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Job Title:Risk Pricing Analyst
Target Start Date:ASAP
Contract Type:Permanent, Part Time, Full Time, Job Share option available
Salary Range:Up to £40k DOE
Location:London, hybrid

Pricing Analyst:The Risk Pricing Analyst will assist Senior Pricing Analysts to conduct detaileddata analysis using sophisticated actuarial and statistical techniques toinform pricing actions aimed at increasing volume, income, and profit. Thesepricing actions will have a direct and immediate impact on the business’sfuture profitability and growth, with key targets to increase conversion,retention, and achieve target loss ratios.

A Risk Pricing Analystfocuses on evaluating and pricing the risk associatedwith products, using statistical models to predict future risks and ensureregulatory compliance.
Incontrast, a Strategic Pricing Analysttakes a broader approach, focusingon long-term pricing strategies that enhance the company’s market position andprofitability through advanced analytics, market research, and strategicrecommendations.

Main Responsibilities as Risk Pricing Analyst:

• Dataset Development:Create and maintain up-to-date and accurate datasets for modelling, pricing, and monitoring.
• Data Management:Ensure the accuracy and appropriateness of data used for modelling, pricing, and monitoring.
• Predictive Model Development:Develop and validate predictive models, including machine learning models.
• Pricing Analysis and Model Maintenance:Conduct pricing analyses and prepare options for senior stakeholders.Develop and maintain pricing models, supportingtheir deployment.
• Performance Monitoring:Develop a balanced view of current and future pricing performance by combining MI, modelling results, and company targets.

Skills and experience you need as Risk Pricing Analyst:

• Knowledge of insurance products and distributions (direct, intermediary, aggregators).
• Experience of using statistics to explore and validate data, extract and manipulate large datasets for analysis.
• Experienced in the use of programming language ( SAS) and/or statistical packages actuarial pricing software.
• Experience in SOME of the following predictive modelling techniques Regression, Log-Gamma GLMs, GBMs, Elastic Net GLMs, GAMs, Decision Trees, Random Forests, Support Vector Machines and Neural Nets is beneficial but not a requirement, andin the use of a programming language ( R, Matlab, Python or Octave).

At Ageas we offer a wide range of benefits to support you and your family inside and outside of work, which helped us achieve,Top Employerstatus in the UK.

Here are some of the benefits you can enjoy at Ageas:

Flexible Working- Smart Working @ Ageasgives employees flexibility around location (as long as it’s within the UK) and, for many of our roles, flexibility within the working day to manage other commitments, such as school drop offs etc. We also offer all our vacancies part-time/job-shares. We also offer a minimum of 35 days holiday (inc. bank holidays) and you can buy and sell days.

Supporting your Health- Dental InsuranceHealth Cash Plan, Health Screening, Will Writing, Voluntary Critical Illness, Mental Health First Aiders, Well Being Activities – Mindfulness.

Supporting your Wealth- Annual Bonus Schemes, Annual Salary Reviews, Competitive Pension, Employee Savings, Employee Loans.

Supporting you at Work- Well-being activities, mindfulness sessions, Sports and Social Club events and more.

Supporting you and your Family-Maternity/pregnant parent/primary adopter entitlement of 16 weeks at full pay and paternity/non-pregnant parent/co-adopter at 8 weeks’ full pay.

Benefits for Them- Partner Life Assurance and Critical Illness cover.

Get some Tech- Deals on various gadgets including Wearables, Tablets and Laptops.

Getting around- Car Salary Exchange, Cycle Scheme, Vehicle Breakdown Cover.

Supporting you back to work- Returnto work programme after maternity leave.