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- Tasks: Analyse data to recommend pricing strategies and develop pricing models.
- Company: Morgan McKinley is a leading recruitment agency in the Financial Services sector.
- Benefits: Enjoy hybrid working, competitive salary, and a dynamic team environment.
- Why this job: Join a collaborative team and make impactful decisions in the insurance industry.
- Qualifications: Experience in pricing roles within Insurance or Financial Services is essential.
- Other info: This is a 6-month fixed-term contract with opportunities for professional growth.
The predicted salary is between 48000 - 72000 £ per year.
Morgan McKinley is looking for an experienced Pricing Consultant to work within the Financial Services and Insurance team of a company based in the East Grinstead, West Sussex area. This is a hybrid working Pricing Consultant fixed term contract position, for 6 months. The Pricing specialist will have experience of working within a commercial, pricing, product costing type role within the FS/Insurance sector.
Salary: £60-75K
Location: Hybrid working – East Grinstead
Duration: 6 month fixed term contract
Pricing Consultant duties:
- Actuarial loss ratio analysis on data to make recommendations
- Develop a spreadsheet model of prices / rates, implementing rating tables
- Carry out impact price analysis
- Ensure the risk and the impact on loss ratio is taken into account when setting new product prices
- Work closely with relevant team members and wider business areas, e.g. the product manager and the claims manager, to ensure the product is well understood.
- Present price / rating proposals and their impact to key stakeholders and update stakeholders regularly
- Work with other teams to implement, and be involved in, a test process of the new rates system
Essential Skills & Experience Required:
- Experience of working in a similar pricing / costing role, within Insurance or FS
- Ability to make decisions and recommendations where there may be scant data available.
- Excellent IT skills, use of Excel, such as; pivot tables and macros
Morgan McKinley is acting as an Employment Agency and references to pay rates are indicative.
BY APPLYING FOR THIS ROLE YOU ARE AGREEING TO OUR TERMS OF SERVICE WHICH TOGETHER WITH OUR PRIVACY STATEMENT GOVERN YOUR USE OF MORGAN MCKINLEY SERVICES.
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Pricing Specialist (Insurance) employer: BMO Harris Bank
Contact Detail:
BMO Harris Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Specialist (Insurance)
✨Tip Number 1
Familiarise yourself with the latest trends in pricing strategies within the insurance sector. Understanding current market dynamics will help you engage in meaningful conversations during interviews and demonstrate your expertise.
✨Tip Number 2
Brush up on your Excel skills, especially with pivot tables and macros. Being able to showcase your proficiency in these areas can set you apart, as they are crucial for the role of a Pricing Specialist.
✨Tip Number 3
Network with professionals in the financial services and insurance sectors. Attend industry events or join relevant online forums to connect with others who can provide insights or even refer you to opportunities.
✨Tip Number 4
Prepare to discuss your experience with actuarial loss ratio analysis and how you've used data to make pricing recommendations. Real-life examples will help illustrate your capabilities and show that you're ready for the challenges of the role.
We think you need these skills to ace Pricing Specialist (Insurance)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in pricing, product costing, and the insurance sector. Use specific examples that demonstrate your skills in actuarial analysis and Excel proficiency.
Craft a Compelling Cover Letter: Write a cover letter that addresses the key responsibilities of the Pricing Specialist role. Mention your experience with loss ratio analysis and how you can contribute to the team at Morgan McKinley.
Showcase Your Technical Skills: Emphasise your IT skills, particularly your expertise in Excel. Include any experience with pivot tables and macros, as these are essential for the role.
Prepare for Potential Questions: Think about how you would approach decision-making in scenarios with limited data. Be ready to discuss your analytical process and how you collaborate with other teams to implement pricing strategies.
How to prepare for a job interview at BMO Harris Bank
✨Showcase Your Analytical Skills
As a Pricing Specialist, you'll need to demonstrate your ability to analyse data effectively. Be prepared to discuss specific examples of how you've conducted actuarial loss ratio analysis in the past and the impact your recommendations had on pricing strategies.
✨Familiarise Yourself with Pricing Models
Understanding various pricing models is crucial for this role. Brush up on your knowledge of spreadsheet modelling and be ready to explain how you would develop and implement rating tables during the interview.
✨Highlight Collaboration Experience
This position requires working closely with product managers and claims managers. Share experiences where you've successfully collaborated with different teams to achieve a common goal, especially in the context of pricing or product development.
✨Prepare for Stakeholder Presentations
You'll need to present pricing proposals to key stakeholders. Practice explaining complex pricing concepts in a clear and concise manner, and be ready to answer questions about the potential impacts of your pricing strategies.
