Senior Pricing Analyst (Risk)

Thinkways Software Technologies Pvt. Ltd.; Haywards Heath; Hybrid; GBP 40,000 - 70,000; Full time

Job summary

A leading company in the UK insurance market is seeking a Senior Pricing Analyst to enhance its pricing strategies through innovative data solutions. This role involves developing advanced pricing models, collaborating with various teams, and mentoring junior members. Ideal candidates will have a strong background in insurance pricing and predictive modeling techniques, along with excellent communication skills.

Qualifications

• Experience in general insurance pricing.
• Knowledge of predictive modeling techniques.
• Proficiency in programming languages like R, Python, SQL.

Responsibilities

• Develop advanced pricing models using data science techniques.
• Promote adoption of statistical techniques in pricing and underwriting.
• Communicate results effectively to decision-makers.

Skills

Insurance pricing

Predictive modeling techniques

R

Python

Data analysis

Communication skills

Education

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

Tools

WTW's Radar software

SAS

SQL

PySpark

Job description

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Job Title:

Senior Risk Pricing Analyst

Locations:

Haywards Heath or Manchester (Hybrid, 1-2 days in the office)

Role Overview

Markerstudy Group is seeking a Senior Risk 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, 20% of commercial vehicles, and over 30% of motorcycles, with total premiums of circa £1.2b. The company partners with household names such as Co-op, Sainsbury's, O2, Halifax, AA, Saga, and Lloyds Bank, and has a significant direct market presence.

Following acquisitions of Co-op Insurance Services in 2021 and BGLi in 2022, Markerstudy is pursuing innovative pricing techniques using an award-winning insurer-hosted rating platform, challenging existing processes.

As a Senior Pricing Analyst, you will leverage your analytical skills to:

• Influence project directions and outcomes across personal lines products
• Create innovative data solutions to extract insights and present data
• Build and maintain sophisticated models using data science techniques
• Develop automated reporting structures to monitor pricing performance

Collaborating with technical pricing, underwriting, retail pricing, and data science teams, your insights will help improve products and pricing strategies, giving Markerstudy a competitive edge.

Key Responsibilities

• Develop advanced pricing models using traditional and data science techniques for various accounts
• Promote the adoption of data science and statistical techniques in pricing and underwriting
• Research and utilize new and existing data sources to identify trends
• Communicate results effectively to decision-makers for action
• Review performance of key accounts
• Collaborate with peers across teams
• Automate repetitive tasks
• Use software to monitor trends and assess pricing impacts
• Mentor junior team members

Key Skills and Experience

• Experience in general insurance pricing
• Knowledge of 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
• Quantitative degree (Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science)
• Experience with WTW's Radar software is preferred
• Excellent communication skills, both verbal and written

Behaviours

• Self-motivated and eager to learn
• Logical thinker with a professional attitude
• Innovative, process-oriented, and challenging the norm
• Personality and sense of humor

Seniority level

• Mid-Senior level

Employment type

• Full-time

Job function

• Finance