R&D Pricing Practitioner

Direct Line Group; Greater London; Hybrid; GBP 70,000 - 90,000; Full time

Benefits offered by this job

9% employer pension

Discounts on insurance products

EV car scheme

Generous holidays

Job summary

Direct Line Group is evolving its Pricing and Underwriting function, seeking a pricing professional to help achieve best-in-class pricing capability. You will research new pricing approaches, propose strategic changes and deliver price optimisation initiatives to support business goals and better customer outcomes.

The role requires collaboration across teams, strong numerical skills, and experience with pricing software.

Qualifications

• Experience in Retail Pricing and Price Optimisation.
• Insurance industry background.
• Understanding of pricing algorithms and underwriting rules.
• Knowledge of motor insurance regulation.
• Strong numerical and analytical skills.
• Ability to communicate complex information clearly.
• Experience with SQL or Python.
• Experience in General Insurance Pricing using statistical methods.

Responsibilities

• Carry out research on new pricing approaches and changes to existing approaches.
• Propose and deliver strategic pricing changes to drive value and better customer outcomes.
• Delivery of price optimisation strategies designed to achieve business objectives.
• Support delivery of Pricing and cross functional Initiatives.
• Make sure all deliverables are well governed and have all relevant controls in place.
• Drive and support continuous improvement of processes.
• Support in upskilling the junior members of the team and establishing pricing best practices in the team.

Skills

Retail pricing

Price optimisation

Analytical skills

Communication

SQL

Python

Radar

Tools

Radar pricing system

Job description

DLG is evolving. Across every facet of our business, our teams are embracing new opportunities and putting customers at the heart of everything they do. By joining them, you'll have the opportunity to not just be recognised for your skills but encouraged to build upon them and empowered to do your absolute best.

Pricing and Underwriting is a complicated world, where historical data, geospatial information, and mathematical models meet talented analysts. Pricing our products is a fine line between balancing our business goals and customer needs. That's why our Pricers and Underwriters are the best of the best. They reduce risk and predict future events ensuring our business can continue to grow whilst each and every one of our consumers gets the best price.

What you'll be doing

You will be using your pricing and underwriting skills and experience to help us achieve best in class pricing capability. Key responsibilities include:

• Carry out research on new pricing approaches and changes to existing approaches

• Propose and deliver strategic pricing changes to drive value and better customer outcomes

• Delivery of price optimisation strategies designed to achieve business objectives

• Support delivery of Pricing and cross functional Initiatives

• Make sure all deliverables are well governed and have all relevant controls in place

• Drive and support continuous improvement of processes

• Support in upskilling the junior members of the team and establishing pricing best practices in the team.

Our hybrid model offers a 'best of both worlds' approach. When you'll be in the office depends on your role and team, but colleagues spend at least 2 days a week in the office

What we are looking for

We are keen to meet enthusiastic, passionate, and curious individuals who can collaborate effectively across several teams and team members. They should also have

• Experience in Retail Pricing and Price Optimisation

• Insurance industry background

• Strong understanding of the components of a pricing algorithms and application of underwriting rules

• Understanding of key legislation and regulation applying to motor insurance and how this impacts pricing algorithms, models, customer premiums and experience.

• Strong numerical and analytical skills with a keen eye for problem solving

• Ability to communicate complex information in a simple way

• Experience of Radar, or alternative pricing software

• Experience of data manipulation using languages, such as SQL or Python.

• Experience of statistical and mathematical techniques and proven experience of applying these effectively in General Insurance Pricing

Benefits

We recognise we wouldn't be where we are today without our colleagues, that's why we offer excellent benefits designed to suit your lifestyle:

• 9% employer contributed pension

• 50% off home, motor and pet insurance plus free travel insurance and Green Flag breakdown cover

• Additional optional Health and Dental insurance

• Up to 10% AIP Bonus

• EV car scheme allows all colleagues to lease a brand new electric or plug-in hybrid car in a tax efficient way.

• Generous holidays

• Buy as you earn share scheme

• Employee discounts and cashback

• Plus, many more

We want everyone to get the most out of their time at DLG. Which is why we've looked beyond the financial rewards and created an offer that takes your whole life into account. Supporting our people to work at their best - whatever that looks like - and offering real choice, flexibility, and a greater work-life balance that means our people have time to focus on the things that matter most to them. Our benefits are about more than just the money you earn. They're about recognising who you are and the life you live.

Be yourself

Direct Line Group is an equal opportunity employer, and we think diversity of background and thinking is a big strength in our people. We're delighted to feature as one of the UK's Top 50 Inclusive Employers and are committed to making our business an inclusive place to work, where everyone can be themselves and succeed in their careers.

We know you're more than a CV, and the things that make you, you, are what bring potential to our business. We recognise and embrace people that work in different ways so if you need any adjustments to our recruitment process, please speak to the recruitment team who will be happy to support you.

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