Senior Pricing Analyst

TN United Kingdom; Manchester; Hybrid; GBP 40,000 - 70,000; Full time

Job summary

An established industry player in the insurance sector is seeking a Senior Pricing Analyst to enhance their innovative pricing department. This role is pivotal in developing advanced pricing models and promoting data science adoption within teams. You will leverage your expertise in predictive modeling and programming to drive actionable insights and improve efficiency. Join a forward-thinking company that values innovation and offers a hybrid working environment, allowing you to thrive in a collaborative setting while making a significant impact on pricing strategies across various insurance lines.

Qualifications

• 2+ years of experience in general insurance pricing.
• Proficiency in programming languages like R, Python, and SQL.

Responsibilities

• Develop advanced pricing models using data science techniques.
• Collaborate with pricing, underwriting, and data science teams.

Skills

Predictive Modeling Techniques

R Programming

Python Programming

SQL

Communication Skills

Tools

WTW’s Radar Software

Job description

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Locations : Haywards Heath or Manchester (Hybrid)

Role Overview

Markerstudy Group is looking for a Senior Pricing Analyst to join a rapidly growing and developing pricing department across various insurance lines.

Markerstudy is a leading provider of private insurance in the UK, insuring around 5% of private cars, a percentage of commercial vehicles, and motorcycles, with total premiums of approximately £1.2 billion. The company works with household names such as Co-op, Sainsbury’s, O2, Halifax, AA, Saga, and Lloyds Bank, and has a significant direct market presence.

Having acquired and integrated Co-op Insurance Services and BGLi, Markerstudy is pursuing innovative pricing techniques, utilizing an award-winning insurer-hosted rating platform, and challenging existing processes.

Key Responsibilities

• Develop advanced pricing models using traditional and data science techniques across Private Car, Commercial Vehicle, and Home accounts.
• Promote the adoption of data science and statistical techniques within pricing and underwriting teams.
• Research and leverage new and existing data sources to identify trends and create innovative data features.
• Communicate findings to decision-makers for actionable insights.
• Monitor performance of key accounts and adjust strategies accordingly.
• Collaborate with pricing, underwriting, and data science teams.
• Automate repetitive tasks to improve efficiency.
• Use specialist software to monitor trends and assess the impact of pricing proposals.
• Mentor and coach team members to develop skills and knowledge.

Key Skills and Experience

• At least 2 years of experience in general insurance pricing.
• Experience with predictive modeling techniques such as Logistic Regression, GBMs, Elastic Net GLMs, GAMs, Decision Trees, Random Forests, Neural Nets, and Clustering.
• Proficiency in programming languages like R, Python, PySpark, SAS, SQL.
• Experience with WTW’s Radar software is preferred.
• Excellent communication skills, both verbal and written.

Behaviours

• Self-motivated with a desire to learn and grow.
• Logical thinker with a professional and positive attitude.
• Passionate about innovation, process improvement, and challenging norms.