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Data Scientist - Retail Price Optimisation - Motor

Policy Expert
City of London
4 days ago
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Overview

london

Are you ready to transform the insurance industry?

Policy Expert is a forward-thinking business that loves to get things done. Leveraging proprietary technology and smart data, we offer reliable products and a wow customer experience.

Having achieved rapid growth since being founded in 2011, we’ve won over 1.5 million customers in Home, Motor and Pet insurance and have been ranked the UK’s No.1-rated home insurer by Review Centre since 2013.


About the pricing team

As one of the fastest growing Insurers in the UK, you will enjoy a fast-paced environment and thrive in a forward-thinking culture. You will be part of a team utilizing advance analytics and machine learning techniques applied in pricing structures. You will be working in collaboration with the data engineering team and the quote engine team to support the bespoke pricing algorithms.


Your day to day

The Motor Pricing Optimisation Senior Analyst will be responsible for updates and improvements to retail models and recalculations of Customer Lifetime Value (CLTV) scores. The job holder will lead the production of the Efficient Frontier, by representing optimal balance between contribution and volume to achieve the most efficient pricing.

Under the supervision and leadership of the Motor Pricing Optimisation Manager, the job holder’s responsibilities include:


  • Efficient Frontier: Produce efficient frontier scenarios on a monthly basis.
  • Customer lifetime value: Evaluate customer profitability by assessing their contribution to fixed expenses through a combination of margin and volume.
  • Price sensitivity models: Build and maintain value and price sensitivity models.
  • Optimisation process: Build and maintain optimisation process to simulate what happens to customers if price changes (monthly).
  • Continuous improvement & innovation: Propose and implement initiatives to adopt advanced analytics, machine learning, and new pricing tools.
  • Collaboration: Work closely with the Motor Risk Pricing team to ensure seamless production of efficient frontier and optimisation process.
  • Team development: Coach and mentor Analysts and promote the sharing of best practices
  • Team support: Support the Motor Pricing Optimisation Manager as and when required e.g., to produce governance forum material or MI
  • Integrate models with ML Engineering: Improve model sophistication and migrate to ML Engineering. Oversee integration of Radar API with ML Engineering.

Who are you
  • Degree in numerically based discipline e.g., Maths, Data, Statistics, Engineering
  • 3+ years in pricing or analytical roles, preferably in the insurance sector
  • Data modelling techniques
  • Performance management
  • This role will be based in our London office in a 50/50 Hybrid mode.

Learning budget of £1,000 a year + Study leave (with encouragement to use it)

Enhanced maternity & paternity

Travel season ticket loan

️ Access to a wide selection of London O2 events and use of a Private Lounge


What We Stand for and Next Steps

“We pride ourselves on being an equal opportunity employer. We treat all applications equally and recruit based solely on an individual’s skills, knowledge, and experience. The quality and growing diversity of our team is a testament to this commitment”

At Policy Expert, we are committed to fostering an inclusive and supportive environment for all candidates. If you require any reasonable adjustments during the interview process to accommodate your needs, please do not hesitate to let us know. We are dedicated to ensuring every candidate has an equal opportunity to succeed and will work with you to provide the necessary support.

We aim to be in touch within 14 working days of your application – you will be notified if successful or unsuccessful. Please be encouraged to apply even if you do not meet all the requirements.


Interested in building your career at Policy Expert? Get future opportunities sent straight to your email.


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