Telematics Pricing Analyst
Department: [SBL] Retail Pricing
Employment Type: Permanent - Full Time
Location: Bristol
Reporting To: Gareth Davies
Compensation: £40,000 - £50,000 / year
Description
We are recruiting for a Pricing Analyst to play a critical role in shaping pricing strategies within the telematics insurance sector. Using advanced statistical techniques, data analytics and actuarial methods, the Pricing Analyst will ensure competitive, fair and profitable pricing structures.
The role focuses on customer engagement with telematics App and managing drivers’ telematics data to drive improvements in risk pricing while adhering to regulatory and market requirements.
What you'll be responsible for:
Data Analysis and Modelling:
* Analyse historical data and trends to develop accurate pricing models and forecasts.
* Apply statistical and actuarial techniques to identify key risk factors influencing pricing decisions.
* Develop trading performance monitoring and predictions.
* Utilize insights from telemetry data, and customer App engagement to drive improvements in risk performance.
* Claims analysis and loss ratio performance monitoring (including projecting ultimate).
Pricing Strategy Development:
* Collaborate with pricing actuaries to design competitive pricing strategies aligned with the company’s financial objectives.
* Utilise insights from market research and competitor analysis to refine pricing recommendations.
Reporting & Communication:
* Present findings, insights and recommendations to senior management and stakeholders in a clear and impactful manner.
* Prepare and maintain detailed documentations of pricing models and methodologies.
* Present portfolio driving score movements and engagement levels.
Collaboration:
* Work closely with Underwriting, Marketing and Claims teams to incorporate diverse perspectives into pricing decisions.
* Liaise with IT teams to implement pricing tools and system enhancements.
Regulatory Compliance:
* Ensure pricing models and practices comply with relevant regulations and guidelines, including those issued by the Financial Conduct Authority (FCA).
Innovation:
* Contribute to the development and testing of customer engagement models.
* Explore and leverage machine learning tools to enhance predictive accuracy.
Continuous Improvement:
* Monitor the performance of pricing models, recommending updates as needed.
* Stay abreast of industry trends, emerging risks and technological advancements.
What you'll need:
* Bachelor’s degree in Mathematics, Statistics, Actuarial Science, Economics, or a related field is desirable, or a non-related degree which covers modules in data/coding or programming, for example.
* A passion for data, covering accuracy and integrity of data and driving actionable insights.
* Strong analytical and problem-solving skills with a high level of numerical proficiency.
* Knowledge of statistical software (e.g. R, Python, SQL) and data visualisation tools (e.g. PowerBI, Tableau).
* Familiarity with pricing techniques, including GLMs (Generalised Linear Models) and machine learning algorithms.
* Ability to interpret large, complex datasets and drive actionable insights.
* Excellent communication and presentation skills to convey technical findings to non-technical stakeholders.
* Teamwork and collaboration skills, with an aptitude for working across departments.
* Knowledge of insurance products, customer segments and market dynamics is desirable.
* Knowledge of telematics products, telemetry data and customer engagement analysis is desirable.
Our Benefits:
* Hybrid working – 2 days in the office and 3 days working from home
* 25 days annual leave, rising to 27 days over 2 years’ service and 30 days after 5 years’ service. Plus bank holidays!
* Discretionary annual bonus
* Pension scheme – 5% employee, 6% employer
* Flexible working – we will always consider applications for those who require less than the advertised hours
* Flexi-time
* Healthcare Cash Plan – claim cashback on a variety of everyday healthcare costs
* Electric vehicle – salary sacrifice scheme
* 100’s of exclusive retailer discounts
* Professional wellbeing, health & fitness app - Wrkit
* Enhanced parental leave, including time off for IVF appointments
* Religious bank holidays – if you don’t celebrate Christmas and Easter, you can use these annual leave days on other occasions throughout the year.
* Life Assurance - 4 times your salary
* 25% Car Insurance Discount
* 20% Travel Insurance Discount
* Cycle to Work Scheme
* Employee Referral Scheme
* Community support day
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