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- Tasks: Analyse data and develop pricing models for motor insurance products.
- Company: Join Somerset Bridge Group, a leader in innovative insurance solutions.
- Benefits: Enjoy hybrid working, 25+ days annual leave, and exclusive discounts.
- Why this job: Be part of a dynamic team that values creativity and personal growth.
- Qualifications: Degree in relevant field; programming skills in SAS, SQL, Python or R preferred.
- Other info: Flexible hours and enhanced parental leave options available.
The predicted salary is between 36000 - 60000 £ per year.
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Join to apply for the Pricing Analyst role at Diversifying.io
This range is provided by Diversifying.io. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.
Base pay range
Department: [SBL] Trading
Employment Type: Permanent – Full Time
Location: Bristol
Description
We are recruiting for a Pricing Analyst to join the Trading team within our Underwriting department. This role will play a pivotal role in driving data-driven decision-making for motor insurance products. The individual will leverage advanced analytics, machine learning, and predictive modelling to unlock actionable insights, optimize pricing strategies, and improve overall business performance. The position combines technical expertise with strategic thinking to ensure the company maintains a competitive edge while delivering value to customers.
What you\’ll be responsible for:
Data Analysis and Pricing Model Development:
- Collect, clean, and analyse large data sets from internal and external sources.
- Assist in developing and refining pricing models using statistical and actuarial techniques.
- Monitor pricing model performance and recommend adjustments based on market trends and emerging risks.
- Have an innovative mind, creating new factors/ideas for pricing.
- Become a technical expert in various areas within the Trading team.
Market and Competitive Analysis:
- Conduct research to understand market dynamics, customer behaviour, and competitor pricing strategies.
- Provide insights to ensure the company remains competitive while maintaining profitability.
Collaboration and Stakeholder Engagement:
- Collaborate with underwriters, product managers, and claims department to ensure alignment between pricing strategies and product development.
- Communicate complex analytical findings and pricing strategies to non-technical stakeholders clearly and effectively.
Reporting and Compliance:
- Prepare detailed reports on pricing performance, profitability, and risk metrics for senior management and regulatory bodies.
- Ensure compliance with regulatory standards and internal governance policies.
- Identify opportunities to enhance pricing processes and implement innovative approaches.
- Stay updated on industry developments, new tools, and methodologies.
What you\’ll need:
- Degree qualified in a relevant field (preferably mathematics, statistics, data science, actuarial science, physics, economics, or a related field).
- Actuarial or CII qualification would be an advantage.
- Programming experience in SAS, SQL, Python or R.
- A proven track record of delivering pricing changes with measurable business value.
- Knowledge of how an insurance product is priced from start to finish.
- Knowledge of the motor insurance market.
- Experience with large (1m+ rows, 1k+ columns) data sets.
- Commercial awareness and drive for practical outcomes.
- Question everything; search for innovative new solutions.
- Good communication skills; ability to present complex data insights clearly and persuasively to both technical and non-technical audiences (both in writing and verbal).
- Hybrid working – 2 days in the office and 3 days working from home
- 25 days annual leave, rising to 27 days over 2 years’ service and 30 days after 5 years’ service. Plus bank holidays!
- Discretionary annual bonus
- Flexible working – we will always consider applications for those who require less than the advertised hours
- Flexi-time
- Healthcare Cash Plan – claim cashback on a variety of everyday healthcare costs
- Electric vehicle – salary sacrifice scheme
- 100’s of exclusive retailer discounts
- Professional wellbeing, health & fitness app – Wrkit
- Enhanced parental leave, including time off for IVF appointments
- Religious bank holidays – if you don’t celebrate Christmas and Easter, you can use these annual leave days on other occasions throughout the year.
- Life Assurance – 4 times your salary
- 25% Car Insurance Discount
- 20% Travel Insurance Discount
- Cycle to Work Scheme
- Employee Referral Scheme
- Community support day
About Somerset Bridge Group
Somerset Bridge Group is dedicated to delivering fair products and innovative services in the insurance industry. Our group focuses on underwriting, broking, and claims handling to provide sustainable and innovative insurance solutions. Somerset Bridge Insurance Services Limited, operating under GoSkippy and Vavista, offers insurance coverage to over 700,000 customers. Somerset Bridge Limited handles underwriting and claims, processing almost 50,000 claims annually. Somerset Bridge Shared Services Limited provides essential support functions to ensure operational efficiency and compliance. With a strong commitment to values, culture, and customer service excellence, Somerset Bridge Group is recognised for its industry awards and growth. Join us to be part of a dynamic team that fosters creative thinking and personal development.
We are very proud to have been awarded a Silver Accreditation from Investors in People! We recognise that all of our people contribute to our success. That\’s why we are always looking for talented people to join our team – people who share our vision, who are passionate about what they do, and who want to be part of something special.
Equal Opportunity Employer
Somerset Bridge Group is committed to creating a diverse environment and is proud to be an Equal Opportunity Employer. We prohibit discrimination or harassment of any kind based on race, color, religion, national origin, sexual orientation, gender, gender identity or expression, age, pregnancy, physical or mental disability, genetic factors or other characteristics protected by law. SBG makes hiring decisions based solely on qualifications, skills and business requirements.
Advertised on behalf of Somerset Bridge Group
Seniority level
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Seniority level
Mid-Senior level
Employment type
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Employment type
Full-time
Job function
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Job function
Analyst
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Industries
Insurance
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Pricing Analyst employer: Diversifying.io
Contact Detail:
Diversifying.io Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Pricing Analyst
✨Tip Number 1
Familiarise yourself with the latest trends in motor insurance pricing. Understanding how market dynamics affect pricing strategies will help you stand out during interviews, as you'll be able to discuss relevant insights and demonstrate your commercial awareness.
✨Tip Number 2
Brush up on your programming skills, especially in SAS, SQL, Python, or R. Being able to showcase your technical expertise in data analysis and model development will be crucial for this role, so consider working on personal projects or online courses to enhance your proficiency.
✨Tip Number 3
Network with professionals in the insurance industry, particularly those involved in pricing and analytics. Engaging with others can provide valuable insights into the role and may even lead to referrals, increasing your chances of landing an interview.
✨Tip Number 4
Prepare to discuss your experience with large data sets and how you've used data-driven decision-making in past roles. Be ready to share specific examples that highlight your analytical skills and ability to derive actionable insights from complex data.
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 data analysis capabilities, programming skills in SAS, SQL, Python, or R, and any experience with large datasets.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for data-driven decision-making in the insurance industry. Mention specific examples of how you've used analytics to drive business outcomes and your understanding of pricing strategies.
Highlight Relevant Qualifications: If you have a degree in mathematics, statistics, data science, or a related field, make sure to mention it prominently. If you hold any actuarial or CII qualifications, include these as they will strengthen your application.
Showcase Communication Skills: Since the role requires communicating complex analytical findings to non-technical stakeholders, provide examples in your application of how you've effectively communicated data insights in previous roles.
How to prepare for a job interview at Diversifying.io
✨Showcase Your Analytical Skills
As a Pricing Analyst, your ability to analyse data is crucial. Be prepared to discuss specific examples of how you've used data analysis in previous roles, particularly in developing pricing models or optimising strategies.
✨Understand the Insurance Market
Familiarise yourself with the motor insurance market and current trends. Being able to discuss market dynamics and competitor pricing strategies will demonstrate your commercial awareness and readiness for the role.
✨Communicate Complex Ideas Clearly
You'll need to present complex analytical findings to non-technical stakeholders. Practice explaining your past projects in simple terms, focusing on the impact of your work rather than just the technical details.
✨Prepare for Technical Questions
Expect questions about programming languages like SAS, SQL, Python, or R. Brush up on your technical skills and be ready to discuss how you've applied these tools in real-world scenarios, especially with large datasets.
