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Pricing Adequacy Job Description

About Us

At Direct Line Group, insurance is just the start. Combining decades of industry experience with talented people in every field, we’re a customer-obsessed market powerhouse. We all work together to be brilliant for customers every single day.

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.

Join us as a Senior Pricing Analyst in our Motor Manufacturing Tribe. This role will sit in the Pricing Adequacy Squad and will work collaboratively with teams across Motor Risk and Retail Pricing, as well as colleagues in Claims, Reserving, and Finance teams.

What you’ll be doing

Working in an agile way means you’ll take charge early on, soak up new experiences, and positively influence and shape what we do – making an impact on our customers' lives. We’ll utilize your skills where they are most needed whilst also giving you the opportunity to build and grow the breadth of your expertise.

You’ll report to the Core Brands Pricing Adequacy Lead, carrying out reserving-style analysis in Python to understand the claims performance of all of our core motor brands, including Direct Line and Churchill. Building new innovative ways of looking at emerging claims trends and collaborating with the Reserving and Claims Analytics teams will be key to delivering our goals.

Your main responsibilities will include:

• Supporting the Pricing-owned monthly projection of ultimate claim costs in Python, using the latest transactional claim data, insights from other teams, and your own experience and judgment.
• Developing our projection methodology to reduce and quantify uncertainty and to provide the best baseline for inflation forecasting.
• Contributing to the monthly view of claims performance presented to key stakeholders to support decisions across the business.
• Leading ad hoc analysis into emerging claims trends, exploring both external and risk-mix drivers of change.
• Supporting other product teams in developing their claims projections, including collaborating closely with the Motability Pricing team.

What you’ll need

• Experience of carrying out reserving analysis in Motor insurance, ideally personal lines.
• Excellent problem-solving skills, with an ability to consider multiple scenarios and anticipate outcomes for our customers.
• Experience with SQL and Python.
• Strong communication and presentation skills, with an ability to explain findings to both a technical and non-technical audience.
• A numerate degree in Mathematics, Statistics, or related subjects.

Ways of working

Our hybrid model way of working offers a 'best of both worlds' approach, combining the best parts of home and office-working, offering flexibility for everyone. Most colleagues are in 2 days a week, and we'll consider the flexible working options that work best for you.

Office Location: London (Hybrid) – 2 Days a week in the office.

What we’ll give you

We wouldn’t be where we are today without our people and the wide variety of perspectives and life experiences they bring. That’s why we offer excellent benefits to suit your lifestyle and a flexible working model. Our core benefits include:

• 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% bonus
• EV car scheme allows all colleagues to lease a brand new electric or plug-in hybrid car in a tax-efficient way.
• 25 days annual leave, increasing each year up to a maximum of 28
• Buy as you earn share scheme
• Employee discounts and cashback
• Plus many more!

Being Yourself

Difference makes us who we are. We believe everyone should feel comfortable to bring their whole selves to work – that’s why we champion diverse voices, build workplaces that work for people, and invest in the things that matter.

Together we’re one of a kind.