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- Tasks: Develop pricing strategies and analyse data to drive innovation in insurance pricing.
- Company: Join a forward-thinking insurance company focused on competitive pricing and market alignment.
- 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 innovative solutions.
- 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 others, as personal referrals can significantly boost your chances of landing an interview.
✨Tip Number 3
Brush up on your technical skills, particularly in data analysis tools like SAS, SQL, Python, and R. Consider taking short courses or certifications to enhance your proficiency, as this will not only improve your application but also prepare you for technical discussions during interviews.
✨Tip Number 4
Prepare to discuss your experience with statistical modelling techniques and how you've applied them in previous roles. Be ready to provide specific examples of how your analytical mindset has led to successful pricing strategies or improvements in past positions.
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 you have with pricing software and technical risk models.
Craft a Compelling Cover Letter: Write a cover letter that specifically addresses the key responsibilities mentioned in the job description. Explain how your background in Mathematics, Statistics, or a related field makes you a strong candidate for the Pricing Analyst role.
Showcase Analytical Skills: In your application, provide examples of how you've used statistical modelling techniques to drive pricing strategies or improve conversion rates. Highlight any successful projects where you analysed sales data to identify trends.
Prepare for Interviews: If invited for an interview, be ready to discuss your experience with cross-functional teams and how you've communicated complex information to both technical and non-technical stakeholders. Prepare to share specific examples that demonstrate your analytical mindset and attention to detail.
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 or SQL in previous roles. Highlight any projects where your insights led to significant improvements.
✨Understand the Insurance Market
Familiarise yourself with current trends in the insurance industry, especially regarding pricing strategies. Being able to discuss recent developments or challenges in the market will demonstrate your genuine interest and knowledge, making you a more attractive candidate.
✨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've applied them in real-world scenarios. This will show that you have the necessary expertise for the role.
✨Communicate Clearly
Since you'll need to present complex information to both technical and non-technical stakeholders, practice explaining your past work in simple terms. Clear communication is key, so focus on how you can convey your findings effectively during the interview.
