Pricing Analyst
Department: [SBL] Retail Pricing
Employment Type: Permanent - Full Time
Location: Bristol
Compensation: £40,000 - £50,000 / year
Description
We are recruiting for a Pricing Analyst to join the Retail Pricing team within our Underwriting department. This role will play a critical role in shaping pricing strategies within the retail motor insurance sector. Using advanced statistical techniques, data analytics, and actuarial methods, the analyst will ensure competitive, fair, and profitable pricing structures. The role focuses on optimizing customer acquisition and retention 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.
Pricing Strategy Development:
* Collaborate with pricing actuaries to design competitive pricing strategies aligned with the company's financial objectives.
* Utilize insights from market research and competitor analysis to refine pricing recommendations.
Reporting and Communication:
* Present findings, insights, and recommendations to senior management and stakeholders in a clear and impactful manner.
* Prepare and maintain detailed documentation of pricing models and methodologies.
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 new pricing techniques and algorithms.
* 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 Actuarial Science, Mathematics, Statistics, Economics, or a related field. Advanced degrees or additional certifications are a plus.
* Knowledge of statistical software (e.g., R, Python, SAS) and data visualization tools (e.g., Power BI, Tableau).
* Familiarity with actuarial pricing techniques, including GLMs (Generalized Linear Models) and machine learning algorithms.
* Experience in Radar or Emblem is an advantage.
* Ability to interpret large, complex datasets and derive actionable insights.
* Excellent communication and presentation skills to convey technical findings to non-technical stakeholders.
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
#J-18808-Ljbffr