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- Tasks: Join our team to analyse pricing models and support innovative insurance strategies.
- Company: Markerstudy is a leading UK insurance provider, insuring millions of vehicles and household names.
- Benefits: Enjoy hybrid working, a dynamic environment, and opportunities for professional growth.
- Why this job: Be part of a fast-growing team that values innovation and collaboration in the insurance sector.
- Qualifications: A quantitative degree and experience in data science programming are essential.
- Other info: We're looking for self-motivated individuals with a passion for learning and a sense of humour.
The predicted salary is between 28800 - 48000 £ per year.
Locations: Haywards Heath or Manchester (Hybrid working)
Role overview:
Markerstudy Group are looking for a 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 Pricing Analyst, you will use your analytical skills to:
- Support pricing teams in building and maintain sophisticated models via a range of data science techniques
- Monitor pricing performance via automated reporting structures
- Enable growth within Motor & Home portfolios
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:
- Support development 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
- 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
Key Skills and Experience:
- Previous 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, but not essential
- Proficient at communicating results in a concise manner both verbally and written
- Ability to analyse, understand and interpret data from varying sources
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
Pricing Analyst employer: Gerrard White
Contact Detail:
Gerrard White Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Analyst
✨Tip Number 1
Familiarise yourself with the insurance industry, particularly in pricing strategies. Understanding how pricing models work and the factors that influence them will give you a solid foundation to discuss during interviews.
✨Tip Number 2
Brush up on your data science skills, especially in programming languages like R or Python. Being able to demonstrate your proficiency in these areas can set you apart from other candidates.
✨Tip Number 3
Network with professionals in the insurance and data science fields. Attend relevant events or join online forums to connect with others who can provide insights or even refer you to opportunities at Markerstudy.
✨Tip Number 4
Prepare to discuss specific examples of how you've used data analysis to drive decision-making in previous roles. This will showcase your analytical skills and ability to communicate results effectively.
We think you need these skills to ace Pricing Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience and skills that align with the Pricing Analyst role. Emphasise your proficiency in statistical and data science programming languages like R, Python, or SQL, as well as any experience with pricing models.
Craft a Compelling Cover Letter: Write a cover letter that showcases your analytical skills and passion for the insurance industry. Mention specific examples of how you've used data science techniques to drive results in previous roles, and express your enthusiasm for working with Markerstudy Group.
Highlight Relevant Projects: If you have worked on projects involving pricing models or data analysis, be sure to include these in your application. Describe your role, the tools you used, and the outcomes achieved to demonstrate your capability in this area.
Showcase Communication Skills: Since the role requires communicating results to key decision-makers, provide examples in your application of how you've effectively communicated complex data insights in a clear and concise manner, both verbally and in writing.
How to prepare for a job interview at Gerrard White
✨Showcase Your Analytical Skills
As a Pricing Analyst, your analytical skills are crucial. Be prepared to discuss specific examples of how you've used data science techniques in previous roles. Highlight any experience with programming languages like R or Python, and be ready to explain how you applied them to solve real-world problems.
✨Understand the Insurance Market
Familiarise yourself with the current trends in the insurance market, especially regarding pricing strategies. Research Markerstudy Group and their competitors to understand their positioning. This knowledge will help you demonstrate your interest in the role and the industry during the interview.
✨Communicate Clearly
Effective communication is key for this role. Practice explaining complex data insights in a simple and concise manner. You might be asked to present your findings or recommendations, so being able to articulate your thoughts clearly will set you apart from other candidates.
✨Demonstrate a Growth Mindset
Markerstudy values self-motivation and a drive to learn. Share examples of how you've sought out new challenges or improved processes in your past roles. Show that you're not just looking to fill a position but are eager to grow and innovate within the company.
