Job Title: Senior Risk Pricing Analyst
Locations: Haywards Heath or Manchester (Hybrid, 1-2 days in the office)
Role Overview
Markerstudy Group are looking for a Senior Risk Pricing Analyst to join a quickly growing and developing pricing department across a range of insurance lines.
Markerstudy is a leading provider of private insurance in the UK, insuring around 5% of the private cars on the UK roads, 20% of commercial vehicles and over 30% of motorcycles in total premium levels of circa £1.2b. The majority of business is written as the insurance pricing provider behind household names such as Co-op, Sainsbury s, O2, Halifax, AA, Saga and Lloyds Bank to list a few and Markerstudy also has a large and growing direct presence in the market as well.
Having acquired and successfully integrated Co-op Insurance Services in 2021 & BGLi in 2022, Markerstudy are now pursuing innovative pricing techniques, taking advantage of an award winning insurer hosted rating platform, whilst challenging existing embedded processes.
As a Senior Pricing Analyst, you will use your advanced analytical skills to:
* Be a key stakeholder influencing the direction & outcome of projects across a range of personal lines products
* Create innovative data solutions finding new ways to mine insight & present data
* Build and maintain sophisticated models, prioritising a range of data science techniques
* Develop reporting structures to monitor pricing performance in an automated fashion
Working with the technical pricing team and closely with underwriting, retail pricing & data science teams, your insight and recommendations will enable improvements to products and prices giving Markerstudy a critical advantage in the increasingly competitive insurance market.
Key Responsibilities:
* Develop a suite of advanced pricing models using a combination of traditional & data science techniques across Private Car, Commercial Vehicle & Home accounts
* Advance the adoption of data science & statistical techniques across pricing & underwriting
* Research and leverage new and existing data sources; capturing and explaining trends with innovative data features
* Communicate results to key decision makers across the business for action based on the results of pricing analysis
* Review observed & expected performance of key accounts
* Collaborate with peers in pricing, underwriting and data science
* Facilitate automation of repeatable tasks
* Using specialist software to monitor trends and review impact of pricing proposals
* Coaching and mentoring junior team members
Key Skills and Experience:
* Previous experience within general insurance pricing
* Experience with some of the following predictive modelling techniques; Logistic Regression, GBMs, Elastic Net GLMs, GAMs, Decision Trees, Random Forests, Neural Nets and Clustering
* Experience in statistical and data science programming languages (e.g. R, Python, PySpark, SAS, SQL)
* A good quantitative degree (Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science)
* Experience of WTW s Radar software is preferred
* Proficient at communicating results in a concise manner both verbally and written
Behaviours:
* Self-motivated with a drive to learn and develop
* Logical thinker with a professional and positive attitude
* Passion to innovate, improve processes and challenge the norm
* Personality and a sense of humour
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