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- Tasks: Lead pricing transformation initiatives and develop market-leading pricing strategies.
- Company: Join Hiscox, a dynamic insurance company focused on innovation and growth.
- Benefits: Enjoy a hybrid working model and flexible work arrangements.
- Why this job: Be part of a collaborative team driving impactful change in the insurance industry.
- Qualifications: Significant UK Retail Pricing experience and strong analytical skills required.
- Other info: No actuarial qualifications needed; just bring your curiosity and proactive attitude!
The predicted salary is between 48000 - 72000 £ per year.
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Head of Pricing Transformation
Job Type: Fixed Term
Build a brilliant future with Hiscox
The team and role
The UK Pricing team is a vital part of Hiscox UK, driving analytics and business insights that influence portfolio underwriting decisions. The team operates within a broader Portfolio Underwriting and Pricing function, aiming to deliver market-leading risk selection and profitable growth. It reports to the UK Chief Underwriting Officer and collaborates with Underwriting, Distribution, Operations, Marketing, Reserving, and Finance. The team is divided into \’Technical\’ and \’Product Facing\’ analysts, with the latter focusing on monitoring, implementing, and maintaining pricing strategies in alignment with UK business goals.
This role requires an experienced Pricing Leader to develop market-leading pricing capabilities and technologies. You will lead pricing transformation initiatives, shape future pricing strategies, and build core skills within the team. This position does not require actuarial qualifications.
What you\’ll be doing
- Act as the SME on pricing change programmes, focusing on building a unified rules and rating engine, and developing a long-term roadmap for product integration and pricing sophistication.
- Estimate the value of initiatives to prioritize developments within the roadmap.
- Bring external best practices to the Hiscox UK Pricing team.
- Collaborate with leadership to set the roadmap for pricing transformation across UK insurance products.
- Ensure alignment of transformation efforts with existing teams and business objectives across functions like Data, Distribution, Underwriting, Operations, Finance, and Claims.
Person Specification
Hiscox values a collaborative approach and decision-making empowerment. We seek an experienced pricing leader eager to engage broadly, generate positive commercial outcomes, and leverage insights from various teams to support growth and profitability. You should be inquisitive, challenge the status quo, and seek continuous improvement, with a background in operational research or a related mathematical field.
Our must haves
- Significant UK Retail Pricing experience
- Experience leading or consulting on pricing transformation projects
- Broad knowledge of insurance pricing across products and channels, especially commercial and personal lines
- Ability to make impactful decisions and influence stakeholders
- Practical statistical skills in a business context
- Strong analytical and problem-solving skills
- Proficiency in Excel, SQL, and programming tools like Python, Emblem, SAS
- Excellent data manipulation skills
- Stakeholder relationship building skills
- Effective communication skills for technical and non-technical audiences
- Driven, curious, and proactive attitude
- Knowledge of regulatory and competitive environment
Diversity and flexible working at Hiscox
We value diversity and inclusivity, supporting flexible work arrangements. The role offers a hybrid working model, with 2-3 days in the London office, fostering a balance of collaboration and independence.
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Join us and work with amazing people in a unique culture. Job ID R0017826
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Head of Pricing Transformation employer: Hiscox Ltd
Contact Detail:
Hiscox Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Pricing Transformation
✨Tip Number 1
Familiarise yourself with the latest trends in pricing transformation within the insurance sector. Understanding current best practices and technologies will help you demonstrate your expertise during discussions with the hiring team.
✨Tip Number 2
Network with professionals in the pricing and insurance fields. Attend industry events or webinars to connect with potential colleagues and gain insights that could be beneficial for your interview.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully led pricing transformation projects in the past. Highlight your ability to influence stakeholders and drive positive outcomes, as this aligns closely with what Hiscox is looking for.
✨Tip Number 4
Brush up on your technical skills, particularly in Excel, SQL, and programming tools like Python. Being able to showcase your analytical capabilities will set you apart from other candidates.
We think you need these skills to ace Head of Pricing Transformation
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your significant UK Retail Pricing experience and any relevant projects you've led or consulted on. Use specific examples that demonstrate your ability to influence stakeholders and make impactful decisions.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your background in operational research or related mathematical fields aligns with the requirements of the position, and mention your proactive attitude towards continuous improvement.
Showcase Technical Skills: Emphasise your proficiency in Excel, SQL, and programming tools like Python, Emblem, and SAS. Provide examples of how you've used these skills in previous roles to drive pricing transformation or enhance analytical capabilities.
Demonstrate Collaborative Experience: Highlight instances where you've worked collaboratively across different teams, such as Underwriting, Operations, or Finance. This will show your ability to align transformation efforts with business objectives and foster a collaborative approach.
How to prepare for a job interview at Hiscox Ltd
✨Showcase Your Pricing Expertise
Be prepared to discuss your significant UK retail pricing experience in detail. Highlight specific projects where you led or consulted on pricing transformation initiatives, and be ready to explain the impact of your decisions on business outcomes.
✨Demonstrate Analytical Skills
Since strong analytical and problem-solving skills are crucial for this role, come equipped with examples of how you've used statistical tools like Excel, SQL, or Python to drive insights and influence pricing strategies. Be ready to discuss your approach to data manipulation.
✨Engage with Stakeholders
Effective communication is key, so think about how you can demonstrate your ability to build relationships with stakeholders. Prepare examples of how you've successfully collaborated with cross-functional teams to align pricing strategies with broader business objectives.
✨Embrace Continuous Improvement
Hiscox values a curious mindset that challenges the status quo. Be ready to share instances where you've sought continuous improvement in pricing processes or strategies, and how you brought external best practices into your previous roles.
