Job Title: Principal Pricing Analyst
This position can be based on a flexible, hybrid basis from our Peterborough or Manchester offices.
Role Overview
You will utilize your technical expertise, in-depth knowledge of the insurance industry, and market-leading tools to produce creative and actionable pricing solutions. This aims to maximize the company's ability to meet its strategy and annual plan, while also influencing that strategy through regular identification of opportunities to Pricing Managers, the Head of Pricing, and the Executive Committee. This role involves coaching team members and championing best practices across the department.
Reporting to the Head of Pricing, you will use tools such as WTW Radar and Emblem, and be responsible for developing and maintaining predictive models (GLM) and price optimization techniques including machine learning algorithms (GBM), LTV (Lifetime Value), and fair pricing principles.
Bringing best-in-class pricing experience, you will provide pricing proposals considering customer and commercial outcomes, communicating these effectively to stakeholders at all levels to facilitate informed decision-making.
You will work on multiple priorities within a fast-paced, dynamic environment, managing stakeholder expectations and workload priorities.
As a Principal Pricing Analyst, your advanced analytical skills will enable you to:
* Influence project direction and outcomes as a key stakeholder
* Provide technical leadership on WTW toolkit, particularly Radar Optimiser, to drive effective solutions
* Lead thought leadership on optimization and modeling concepts
* Research, develop, and promote best practice methods and standards across the department
* Enhance the group's pricing capabilities
* Query large databases to extract and manipulate data for purpose-driven analysis
* Oversee and assist in implementing market-leading methodologies
* Deliver regular management information on KPIs related to Atlanta's performance
* Continuously evaluate and improve methodologies within the broader process
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 statistical and data science programming languages (e.g., R, Python, PySpark, SAS, SQL)
* Quantitative degree (Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science)
* Experience with WTW Radar software is preferred
* Ability to communicate results clearly in both verbal and written formats
Behaviors:
* Self-motivated with a desire to learn and develop
* Logical thinker with a professional, positive attitude
* Passionate about innovation, process improvement, and challenging norms
About the business:
Markerstudy is a leading UK private insurance provider, insuring around 5% of private cars, 20% of commercial vehicles, and over 30% of motorcycles, with total premiums circa GBP 1.2 billion. The company insures household names such as Co-op, Sainsbury's, O2, Halifax, AA, Saga, and Lloyds Bank, among others. It also 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, leveraging an award-winning insurer-hosted rating platform, and challenging existing processes.
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