Job Title: Pricing Analyst
Locations: Haywards Heath or Manchester (Hybrid working)
Role overview:
Markerstudy Group is seeking a Pricing Analyst to join its rapidly growing and evolving pricing department across various insurance lines.
Markerstudy is a leading UK private insurance provider, insuring approximately 5% of private cars, 20% of commercial vehicles, and over 30% of motorcycles, with total premiums around £1.2 billion. The company partners with household names such as Co-op, Sainsbury’s, O2, Halifax, AA, Saga, and Lloyds Bank.
Following the successful acquisition and integration 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.
As a Pricing Analyst, your analytical skills will be used to:
1. Support pricing teams in developing and maintaining sophisticated models using data science techniques.
2. Monitor pricing performance through automated reporting.
3. Drive growth within Motor & Home portfolios.
Working closely with underwriting, technical pricing, and data science teams, your insights and recommendations will help improve products and pricing strategies, providing Markerstudy with a competitive edge in the insurance market.
Key Responsibilities:
1. Assist in developing advanced pricing models combining traditional and data science techniques across Private Car, Commercial Vehicle, and Home accounts.
2. Promote the adoption of data science and statistical methods in pricing and underwriting.
3. Communicate findings effectively to decision-makers for action.
4. Review performance metrics of key accounts.
5. Collaborate with teams across pricing, underwriting, and data science.
6. Automate repetitive tasks to improve efficiency.
7. Use specialized software to monitor trends and assess the impact of pricing proposals.
Key Skills and Experience:
1. Experience with statistical and data science programming languages (e.g., R, Python, PySpark, SAS, SQL).
2. A quantitative degree such as Mathematics, Statistics, Engineering, Physics, Computer Science, or Actuarial Science.
3. Experience with WTW’s Radar software is preferred but not essential.
4. Excellent communication skills, both verbal and written.
5. Ability to analyze and interpret data from various sources.
Behaviours:
1. Self-motivated with a desire to learn and develop.
2. Logical thinker with a professional and positive attitude.
3. Passionate about innovation, process improvement, and challenging norms.
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