Senior Pricing Analyst (Property)

Munich Re; London; On-site; GBP 50,000 - 80,000; Full time

Job summary

Join a forward-thinking company as a Senior Pricing Analyst, where you'll lead pricing assessments and support a dynamic team. This role is pivotal in ensuring high standards within the insurance sector, requiring a blend of analytical prowess and effective communication. You'll have the opportunity to mentor junior analysts, manage complex pricing models, and contribute to innovative business planning. With a strong commitment to diversity and inclusion, this organization fosters an environment where your contributions will be valued and recognized. If you're ready to make a meaningful impact in a supportive setting, this is the role for you.

Benefits

25 days Annual Leave + bank holidays

10% Non-contributory Pension

Eligibility for an Annual Bonus

Private Medical + Dental Insurance

Critical illness insurance

Life Assurance

Permanent Health Insurance

Wellbeing and Development Scheme

Electric Vehicle Salary Sacrifice Scheme

Study & Professional Development Support

Qualifications

• Experience in pricing within the London Market is essential.
• Strong mathematical/statistical background required.

Responsibilities

• Manage and mentor direct reports while conducting pricing assessments.
• Support pricing team in achieving high standards and technical ratings.
• Construct and maintain pricing models for various business classes.

Skills

Pricing experience in the London Market

Mathematical/statistical knowledge

Effective communication skills

Business acumen

Team player

Knowledge of FCA regulations

Education

Degree in Mathematics, Statistics, or Actuarial Science

Tools

Pricing models

Statistical software

Job description

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Senior Pricing Analyst
We are looking to employ a Senior Pricing Analyst to be based in London, Manchester or Birmingham and to work with us on a full-time basis. You will support the provision of actuarial pricing support to MRSL.

Responsibilities

• Effectively manage, mentor and support your direct report(s), including managing their time, providing training and reviewing their work as required.
• Work independently on individual pricing assessments of large risks and binder reviews, including clear communication of results to the underwriters.
• Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts.
• Construction, review and maintenance of pricing models for varied classes of business.
• Analysis of pricing model data including parameter validations.
• Support for syndicate business planning process.
• Production and review of pricing management information.
• New business initiative analyses and independent reviews.
• Investigation and utilisation of alternative data sources for parameterisation of pricing models.
• Support underwriting within depth portfolio analyses and performance management.
• Ensure all advice offered is in line with TAS requirements.
• Help drive forward good conduct for the business to deliver the best outcomes for customers/policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

• Pricing experience in the London Market.
• Experience with Property insurance an advantage.
• Highly developed mathematical/statistical knowledge in (re)insurance.
• Effective communication skills and ability to translate complex models in business terms.
• Strong business acumen and interpersonal skills.
• Team player and willingness to train junior members in the team.
• Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment.
• Knowledge of a range of modelling techniques and applications for pricing.
• Current Lloyd’s market knowledge.
• Willingness to continue to develop knowledge of any pricing related matters.
• Knowledge and understanding of FCA regulations and Lloyd’s standards.
• Knowledge and understanding of the underlying principles of insurance and reinsurance.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs.

Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow.

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Benefits

• 25 days Annual Leave + bank holidays.
• 10% Non-contributory Pension.
• Eligibility for an Annual Bonus.
• Private Medical + Dental Insurance.
• Critical illness insurance + Life Assurance + Permanent Health Insurance.
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility).
• Electric Vehicle Salary Sacrifice Scheme.
• Study & continuing Professional Development Support.