At a Glance
- Tasks: Lead the Technical Pricing Team and drive strategic initiatives for growth and profitability.
- Company: Join a forward-thinking insurance company focused on innovation and collaboration.
- Benefits: Competitive salary, professional development, and a dynamic work environment.
- Other info: Opportunity to develop a talented team and influence key business decisions.
- Why this job: Shape the future of pricing strategies and make a significant impact in the industry.
- Qualifications: Experience in technical pricing and strong leadership skills required.
The predicted salary is between 60000 - 80000 £ per year.
Overview We’re looking for a Head of Technical Pricing to lead the Technical Pricing Team and drive the implementation of the group’s strategic initiatives to support growth and maximise profitability of the business.
Responsibilities Lead the development and implementation of the technical insurance pricing strategy, shaping the data enrichment policy in collaboration with the Pricing Innovation and Product Development teams.
Ensure technical rates are set at appropriate levels to deliver against budget and re‑forecasts.
Lead the team responsible for ensuring product line profitability aligns with plans while managing risks within appetite.
Provide oversight of burn cost models and responsibility for their accuracy, including research, development and implementation of new models and improvement of existing ones.
Drive a programme of rating structure design, data enrichment, model technique progression and iterative enhancements, using business and industry insight to ensure pricing reflects operational realities and environmental risks.
Design processes to ensure sales mix is monitored and prices are iterated to manage risk and propose with reason that changes are either technical pricing or retail pricing actions.
Be an expert in external dataset providers and provide recommendations on partnering decisions.
Collaborate with senior stakeholders to agree on geographic concentration risk controls and design implementation solutions.
Collaborate with underwriting colleagues to establish decline rules and protective pricing loads, and ensure footprint and competitiveness expansion are well controlled and monitored.
Develop the team to harness expertise to analyse emerging exposure and claims, and to build burning cost models from internal and external data sources.
Lead, motivate and develop the Technical Pricing Team, and define the framework for the team’s goals and objectives.
Communicate to the wider business insights on emerging claims experience by peril and by factor, and lead a programme of technical pricing model refinement.
Collaborate with claims teams to establish future‑proofed assumptions for frequency and severity of claims per peril.
Establish a programme of continuous improvement in burning cost modelling and data enrichment reflecting emerging technology and claims trends.
Advise the Retail Pricing team on opportunities/risks to achieve commercially optimised prices.
Engage in the reinsurance purchasing process and optimise competitive footprint for programme efficiency.
Provide guidance and instructions to Tech/Data colleagues on solution design.
Maintain department risk registers, providing evidence and commentary for controls, updates for mitigation actions and maintaining control matrices and attestations.
Manage risks and ensure that employees are aware of their responsibility to identify and report risk.
Comply with the Group Code of Conduct and Fitness and Propriety policies, Company Policies, Values and guidelines, and other relevant standards and regulations, including the Senior Managers Certification Regime (SMCR) Conduct Rules.
Qualifications
Head of Technical Pricing employer: 1st Central
1st Central is an excellent employer that values innovation and collaboration, offering a dynamic work culture where your contributions directly impact our reward strategy. With flexible hybrid working arrangements and opportunities for professional growth, you will thrive in a supportive environment that encourages meaningful engagement with senior stakeholders. Located in Haywards Heath, you will enjoy the benefits of a vibrant community while having access to occasional meetings in London, enhancing both your career and work-life balance.
