Principal Pricing Analyst

Vermelo RPO; United Kingdom; Remote; GBP 50,000 - 80,000; Full time

Job summary

A leading company is seeking a Principal Pricing Analyst for a remote position to utilize expertise in pricing solutions unique to the insurance sector. The successful candidate will influence pricing strategies, develop predictive models, and coach team members while delivering impactful communication and insights across departments.

Qualifications

• Experience in general insurance pricing.
• Familiarity with predictive modeling techniques such as Logistic Regression and GBMs.
• Proficient in statistical and data science programming languages.

Responsibilities

• Provide technical leadership on WTW toolkit to drive effective solutions.
• Research and champion best practice methods and standards.
• Deliver regular management information on KPIs.

Skills

Predictive modeling techniques

Statistical programming languages

Database querying

Data manipulation

Education

Quantitative degree (Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science)

Tools

WTW Radar software

R

Python

SAS

SQL

Job description

Job Title: Principal Pricing Analyst

This is a remote working opportunity.

Role Overview

You will Utilise your technical expertise, in-depth knowledge of insurance industry and market leading tools to produce creative and actionable pricing solutions. This is to maximise the company's ability to meet its strategy and annual plan but should also influence that strategy through regular identification of opportunities to Pricing Managers, Head of Pricing and Executive Committee. This role requires a large element of coaching team members and championing best practice across the department.

Reporting to the Head of Pricing, you will make use of WTW Radar and Emblem and you will have responsibility for the development and maintenance of predictive models (GLM) and price optimisation including machine learning algorithms (GBM), LTV (Lifetime Value) and fair pricing principles.

Bringing best in class pricing experience, you ll be expected to provide pricing proposals considering customer and commercial outcomes, communicating these in a compelling, impactful way to all levels of stakeholders to help us make the right decisions at the right times.

You ll work on multiple priorities within a fast paced, dynamic environment. You ll need to be able to manage the expectations of stakeholders alongside prioritising your workload.

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

• Be a key stakeholder influencing the direction & outcome of projects
• Provide technical leadership on WTW toolkit (in particular Radar Optimiser) to drive forward effective and efficient solutions
• Provide thought leadership on optimisation and modelling concepts
• Research, develop and champion the use of best practice methods and standards and ensure they are embedded throughout the department
• Lead the development of the Groups pricing capability
• Query large databases to extract and manipulate data that is fit for purpose
• Oversee and assist in the development and implementation of the market leading methodologies you've identified
• Deliver regular management information on specific KPI's relating to Atlanta's performance
• Continuously evaluate methodologies, understanding how they fit into the wider piece, and identify where they can be improved

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

About the business:

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.