At a Glance
- Tasks: Shape the future of pricing by analysing data and developing innovative models.
- Company: Join 1st Central, a leading insurance company with a fantastic workplace culture.
- Benefits: Enjoy flexible hybrid working, competitive salary, and recognition as Employer of the Year.
- Other info: Collaborative environment with opportunities for professional development and career growth.
- Why this job: Make a real impact in the insurance industry while growing your analytical skills.
- Qualifications: 2+ years in a pricing role and a degree in a numerate discipline required.
The predicted salary is between 35000 - 45000 £ per year.
We’re 1st Central, a market-leading insurance company utilising smart data and technology at pace. Rapid growth has been based on giving our 1.4 million customers exactly what they want: great value insurance with an excellent service. And that’s the same for our colleagues too; we won Insurance Employer of the Year at the British Insurance Awards 2024 and our Glassdoor score is pretty mega too!
We’re looking for a Pricing Innovation Analyst to play a key role in shaping the future of our pricing capability. You’ll drive the evolution of our burn cost models by uncovering new predictive insights, increasing model sophistication, experimenting with innovative techniques, and building cutting-edge reporting solutions.
We’re big on flexible hybrid working. Our teams are based across Haywards Heath (West Sussex) and Salford Quays (Manchester). We primarily work from home but value collaboration, so we come together in person to keep ideas flowing, typically once a week or fortnight. Prefer being in the office more often? That works for us too.
Core skills we’re looking for to succeed in the role:
- Analytical & Numerical Skills: Excellent data and statistical analysis skills, with strong numerical capability and a logical, problem-solving approach.
- Programming Skills: Experience with Python, R or SAS.
- Modelling Capability: Some experience or familiarity with modelling techniques (e.g. EMBLEM, Python, GBM builds in Radar), or a strong interest in developing these skills.
- Industry & Role Experience: 2 years’+ experience gained within a commercial or pricing role within personal lines motor insurance, plus a 2:1 degree (or equivalent) in a numerate discipline.
- Communication & Presentation: Strong verbal and written communication skills, with the ability to present complex concepts at a level appropriate to the audience.
Pricing Innovation Analyst employer: 1st Central
At 1st Central, we pride ourselves on being an award-winning employer that values innovation and collaboration. Our flexible hybrid working model allows you to balance your professional and personal life while contributing to a dynamic team in Haywards Heath or Salford Quays. With a strong focus on employee growth and development, we offer opportunities to enhance your skills in a supportive environment, making us an excellent choice for those seeking a meaningful career in the insurance industry.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Innovation Analyst
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like 1st Central). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like 1st Central. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Pricing Innovation Analyst
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at 1st Central.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at 1st Central. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at 1st Central
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at 1st Central to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at 1st Central, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding 1st Central's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
