Pricing Manager

Markerstudy Group; Manchester; Hybrid; GBP 45,000 - 65,000; Full time

Job summary

Markerstudy Group is seeking a Pricing Manager to enhance pricing strategies across motor and home products. This role includes developing predictive models, collaborating with teams, and improving pricing processes within the insurance sector. Ideal candidates will possess strong data science skills and a background in general insurance product management.

Qualifications

• Experience managing insurance products and pricing teams.
• Knowledge of predictive modeling techniques and programming languages.
• Strong communication skills for conveying results.

Responsibilities

• Maintain and improve pricing processes across multiple products.
• Advocate for advanced data science techniques in pricing.
• Manage and mentor team members in pricing strategies.

Skills

General insurance product management

Predictive modeling techniques

Statistical programming (R, Python, SQL)

Communication skills

Tools

WTW’s Radar software

Job description

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Locations: Haywards Heath / Manchester (on a hybrid working model)

Role Overview

Markerstudy Group is looking for a Pricing Manager to join a quickly growing and developing pricing department covering 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, % of commercial vehicles, and over % of motorcycles in total premium levels of circa £1.2b. 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. Markerstudy also has a large and growing direct presence in the market.

Having acquired and successfully integrated Co-op Insurance Services in 1 & BGL, Markerstudy is now pursuing innovative pricing techniques, taking advantage of an award-winning insurer-hosted rating platform, whilst challenging existing embedded processes.

As a Pricing Manager, you will be responsible for the pricing of multiple motor and home products, including the following core activities:

• Maintaining and improving behavioural models, prioritising a range of data science techniques.
• Advancing the adoption of data science & statistical techniques.
• Developing reporting structures to monitor pricing performance in an automated fashion.
• Developing innovative solutions to improve rating accuracy/efficiency.

Working closely with the wider pricing department and 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:

• Maintain and improve the pricing process to meet business requirements, including:
• Development of market-leading behavioural modelling using a combination of traditional & data science techniques.
• Improve sophistication within the optimisation of Markerstudy’s direct brands.
• Support delivery of pricing & underwriting business plan across Motor & Home portfolios.
• Support development of new product offerings.
• Advance the adoption of the latest data science & statistical techniques across pricing & underwriting.
• Research and leverage new and existing data sources; capture and explain trends with innovative data features.
• Clearly communicate results and proposed actions to key decision-makers across the business.
• Champion and facilitate automation of reporting, data pipelines, and quality assurance.
• Manage, coach, and mentor team members, driving a culture of development and excellence.
• Collaborate with peers in pricing, underwriting, and data science.

Key Skills and Experience:

• Experience managing general insurance products and/or pricing teams, including knowledge of current trends and issues in motor or home 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. Knowledge of the technical differences between different packages for some of these model types would be advantageous.
• Experience in statistical and data science programming languages (e.g., R, Python, PySpark, SAS, SQL).
• Experience of WTW’s Radar software is preferred.
• Proficient at communicating results concisely both verbally and in writing.

Behaviours:

• Good communication and people management skills.
• Self-motivated with a drive to learn and develop.
• Logical thinker with a professional and positive attitude.
• Passionate about innovating, improving processes, and challenging the norm.