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- Tasks: Develop innovative pricing strategies and analyse sales data to drive improvements.
- Company: Join a leading insurance firm focused on competitive pricing and market innovation.
- Benefits: Enjoy a competitive salary, flexible work options, and opportunities for professional growth.
- Why this job: Be part of a dynamic team that values data-driven decisions and collaboration.
- Qualifications: Degree in a quantitative field and experience in General Insurance required.
- Other info: This role is based in London, with one day a week in the office.
The predicted salary is between 30000 - 50000 £ per year.
£30K- £50K
Once a week in London
My Client is on the search for a Technical Pricing Analyst to develop models and drive innovation in their pricing practices.
Key Responsibilities:- Develop and implement competitive pricing strategies to maximise quote volume and conversion rates.
- Analyse net loss ratio and implement changes to achieve target position.
- Perform detailed analysis of sales data and customer demographics to identify trends and opportunities for improvement.
- Use statistical and machine learning techniques to refine pricing models and ensure alignment with market conditions.
- Prepare regular reports and presentations for senior management, highlighting performance trends and recommending pricing adjustments to achieve goals.
- Work closely with the Commercial team to align pricing strategies with sales targets and any partner requirements.
- Liaise with the Product and Underwriting teams to ensure that pricing changes are consistent with product coverage and regulatory requirements.
- Support the retail team with pricing changes and model improvements.
- Experience within General Insurance is essential.
- Degree in Mathematics, Statistics, Economics, Actuarial Science, or a related quantitative field.
- Experience in building technical risk models.
- Proficient in data analysis tools such as SAS, SQL, Python, R etc.
- Proficient in pricing software (e.g. Earnix, Akur8, Emblem, Radar etc.) and rating engines is a strong advantage.
- Understanding of statistical modelling techniques.
- Strong analytical mindset with the ability to interpret complex data and make data-driven decisions.
- Excellent attention to detail and the ability to identify trends and anomalies in large datasets.
- Strong written and verbal communication skills, with the ability to present complex information clearly to both technical and non-technical stakeholders.
- Proven ability to work collaboratively in cross-functional teams and build and sustain strong working relationships with a variety of stakeholders.
Pricing Analyst- Insurance employer: MERJE
Contact Detail:
MERJE Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Analyst- Insurance
✨Tip Number 1
Familiarise yourself with the latest trends in pricing strategies within the insurance sector. Understanding current market conditions and innovations can give you an edge during interviews, as you'll be able to discuss relevant examples and demonstrate your knowledge.
✨Tip Number 2
Network with professionals in the insurance industry, especially those working in pricing roles. Attend industry events or join online forums to connect with potential colleagues and learn about their experiences, which can provide valuable insights for your application.
✨Tip Number 3
Brush up on your data analysis skills, particularly in tools like SAS, SQL, Python, and R. Consider taking a short course or working on personal projects that showcase your ability to analyse complex datasets, as this will be crucial for the role.
✨Tip Number 4
Prepare to discuss your experience with technical risk models and pricing software during interviews. Be ready to share specific examples of how you've used these tools to drive results, as this will demonstrate your practical knowledge and suitability for the position.
We think you need these skills to ace Pricing Analyst- Insurance
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in General Insurance and showcases your skills in data analysis tools like SAS, SQL, Python, or R. Emphasise any experience with pricing software and technical risk models.
Craft a Compelling Cover Letter: Write a cover letter that specifically addresses the key responsibilities of the Pricing Analyst role. Mention how your background in Mathematics, Statistics, or a related field equips you to develop competitive pricing strategies and analyse sales data effectively.
Showcase Analytical Skills: In your application, provide examples of how you've used statistical modelling techniques to interpret complex data. Highlight any projects where you've successfully identified trends and made data-driven decisions.
Prepare for Communication: Since strong communication skills are essential, be ready to demonstrate how you can present complex information clearly. Consider including a brief example in your application of how you've communicated findings to both technical and non-technical stakeholders.
How to prepare for a job interview at MERJE
✨Showcase Your Analytical Skills
As a Pricing Analyst, your ability to analyse data is crucial. Be prepared to discuss specific examples of how you've used statistical techniques or data analysis tools like SAS, SQL, or Python in previous roles. Highlight any projects where your analysis led to significant improvements in pricing strategies.
✨Understand the Insurance Market
Familiarise yourself with current trends and challenges in the insurance industry. Being able to discuss how market conditions affect pricing strategies will demonstrate your knowledge and passion for the field. Research recent developments and be ready to share your insights during the interview.
✨Prepare for Technical Questions
Expect technical questions related to risk modelling and pricing software. Brush up on your understanding of statistical modelling techniques and be ready to explain how you would approach building a pricing model. This will show your technical competence and readiness for the role.
✨Communicate Clearly
Strong communication skills are essential for this role. Practice explaining complex data findings in simple terms, as you'll need to present to both technical and non-technical stakeholders. Use clear examples from your past experiences to illustrate your points effectively.
