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- Tasks: Analyse market pricing and develop innovative models to optimise SME rates.
- Company: Join AXA Health, a leader in health insurance with a focus on innovation.
- Benefits: Competitive salary, bonuses, generous leave, and wellness resources.
- Why this job: Make a real impact in pricing strategy while working with cutting-edge data science.
- Qualifications: Strong background in mathematics or statistics, with experience in pricing models.
- Other info: Flexible hybrid work environment with excellent career growth opportunities.
The predicted salary is between 36000 - 60000 £ per year.
We’re making a significant investment in pricing capability with a comprehensive pricing transformation programme. This includes the implementation of new pricing software, market-leading modelling, and performance monitoring approaches. Our pricing structure is more aligned to focus on the key disciplines of technical pricing, market pricing and pricing governance. As a result, several vacancies have arisen, with a need for strong data science, actuarial and governance skills. If you love statistics, numbers and solving problems, joining AXA Health’s Pricing Team could be an excellent opportunity for you.
You’ll help deliver the retail pricing strategy for the SME PMI and non-PMI portfolio, continually refining retail pricing models and fine-tuning optimisation of SME rates in the market to strike the required balance between volume and value. At AXA we work smart, empowering our people to balance their time between home and the office in a way that works best for them, their team and our customers. You’ll work at least two days a week (40%) away from home, moving to three days a week (60%) in the future. Away from home means either attendance at one of our office locations, visiting clients or attending industry events.
What you’ll be doing:
- Delivering robust behavioural, demand, and market premium models in Radar, compliant with regulations, and delivering ongoing value for customers and the business.
- Providing ongoing model performance monitoring with timely reviews and agile interim rating adjustments to protect customers and maintain pricing accuracy.
- Maintaining and enhancing Radar LTV models with robust assumptions to deliver reliable lifetime value insights for responsible pricing and customer value.
- Running Radar optimization and rating models to achieve sustainable volume and value, backed by AXA’s trusted analytics.
- Pricing for legacy SME PMI and non-PMI portfolios before migration, ensuring fairness and regulatory alignment.
- Ensuring robust modelling and performance data, collaborating with Data & Systems to improve accuracy and decision-making.
- Upholding AXA’s Fair Pricing Policy and conduct standards in pricing proposals, ensuring transparent, fair pricing.
- Fostering strong collaboration with Pricing and Distribution teams to align strategies and accelerate value delivery for customers.
What you’ll bring:
- Knowledge of retail pricing data and modelling techniques, including GLMs and machine learning such as GBMs.
- Understanding of price optimisation and other actuarial techniques including reserving.
- Experience of using Radar pricing software.
- Higher education (equivalent grades of 2:1 or higher) in a mathematics or statistics related discipline and ideally studying towards actuarial qualification.
- Understanding of the regulatory environment in which the business operates and understanding of the dynamics of large organisations.
- Outstanding communication skills.
- Solution focused, with a strong focus on delivery, and desire for continuous improvement.
- Self-motivated with a can-do attitude.
This position has been defined as an Insurance Distribution Directive (IDD) role under the IDD regime which means that in addition to pre-employment screening checks, the successful candidate will be subject to background screening every 4 years with an annual declaration in interim years.
What we offer:
- Competitive annual salary dependent on experience
- Annual company & performance-based bonus
- Contributory pension scheme (up to 12% employer contributions)
- Life Assurance (up to 10 x annual salary)
- Private medical cover
- 25 days annual leave plus Bank Holidays
- Opportunity to buy up to 5 extra days leave or sell up to 5 days leave
- Wellbeing services & resources
- AXA employee discounts
To apply, click on the ‘apply for this job’ button, you’ll then need to log in or create a profile to submit your CV. We’re proud to be an Equal Opportunities Employer and don’t discriminate against employees or potential employees based on protected characteristics. If you have a long-term condition or disability and require adjustments during the application or interview process, we’re proud to offer access to the AXA Accessibility Concierge.
For our support, please send an email to saraya.cussons@axa-uk.co.uk.
At AXA Health, we’re passionate about helping our members to put their health first, whether that’s individuals and families, small businesses, or huge corporates. From fast access to diagnosis and treatment, to guidance and tools that can help them manage their health every day, not just when there’s a problem, our members can be confident we’ll guide them, every step of the way.
Market Pricing Analyst (SME) employer: AXA Group
Contact Detail:
AXA Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Market Pricing Analyst (SME)
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect with potential colleagues on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by practising common questions related to pricing analysis and data science. Use real-life examples from your experience to showcase your skills and how they align with AXA's needs.
✨Tip Number 3
Show off your passion for numbers and problem-solving! During interviews, express your enthusiasm for the role and how you can contribute to refining retail pricing models and optimising SME rates.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you’re serious about joining AXA Health and being part of our exciting pricing transformation programme.
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that align with the Market Pricing Analyst role. Highlight your knowledge of retail pricing data, modelling techniques, and any experience with Radar software to catch our eye!
Craft a Compelling Cover Letter: Use your cover letter to tell us why you're passionate about pricing and how your background in statistics or data science makes you a great fit. Share specific examples of how you've solved problems in previous roles to show off your solution-focused mindset.
Showcase Your Communication Skills: Since outstanding communication is key for this role, make sure your application is clear and concise. Use straightforward language and structure your thoughts logically to demonstrate your ability to convey complex information effectively.
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way to ensure your application gets the attention it deserves. Plus, we love seeing candidates who take the initiative to follow our process.
How to prepare for a job interview at AXA Group
✨Know Your Numbers
As a Market Pricing Analyst, you'll be dealing with a lot of data and statistics. Brush up on your knowledge of retail pricing data, GLMs, and machine learning techniques like GBMs. Be ready to discuss how you've applied these in past roles or projects.
✨Understand the Regulatory Landscape
Familiarise yourself with the regulatory environment that affects pricing strategies. Be prepared to talk about how you ensure compliance in your work and how it impacts decision-making in pricing models.
✨Showcase Your Problem-Solving Skills
This role requires a solution-focused mindset. Think of examples where you've tackled complex problems using data analysis. Highlight your approach to refining pricing models and optimising rates to balance volume and value.
✨Communicate Effectively
Outstanding communication skills are crucial for this position. Practice explaining complex concepts in simple terms, as you'll need to collaborate with various teams. Prepare to demonstrate how you've successfully communicated insights or strategies in previous roles.
