Senior Pricing Analyst (Risk)

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