At a Glance
- Tasks: Drive pricing analysis and influence high-net-worth household and commercial lines.
- Company: Join Hiscox, a leader in insurance with a commitment to diversity and inclusion.
- Benefits: Flexible working, hybrid model, and a supportive team culture.
- Other info: Collaborate with diverse teams and enjoy excellent career growth opportunities.
- Why this job: Make impactful decisions using data science in a dynamic environment.
- Qualifications: 3+ years in pricing analytics with strong statistical skills.
The predicted salary is between 63000 - 77000 £ per year.
Build a brilliant future with Hiscox.
The UK Pricing team are a fundamental part of the Hiscox UK business, driving analytics and business insight that informs the direction of portfolio underwriting decisions. The UK Pricing team sits within the wider Portfolio Underwriting and Pricing function, whose primary objective is to provide pricing and underwriting services across the UK retail business, with the aim of providing market-leading risk selection and driving profitable growth across the portfolio.
The team reports directly to the UK Chief Underwriting Officer and collaborates closely with Underwriting, Distribution, Operations, Marketing, Reserving and Finance. The pricing team is split into Technical and Product-Facing analysts. Product-Facing Pricing Analysts focus more on monitoring, implementing and maintaining production prices, and work with senior stakeholders to prioritise pricing activity aligned with the UK strategy.
This role sits within the technical pricing area of the team. You will be someone who loves technical detail but can bring commercial understanding to provide insights that directly influence business decisions. Day to day, you will focus on creating, maintaining, monitoring and embedding pricing models. You will have a passion for data science and for seeing business outcomes influenced by your expertise.
As a Senior Pricing Analyst, you will drive pricing analysis and influence the growing book of non-standard high-net-worth household, motor, SME commercial and specialty lines. The Senior Pricing Analyst plays a critical role in supporting and influencing UK pricing and profitable growth.
What you'll be doing:
- Design and manipulate underlying data models to produce standardised data tables that form the basis of all underlying technical pricing models.
- Act as the end-to-end architect of technical pricing models. Create models to predict claims frequency, claims severity, conversion, cancellation rates and other customer behaviours using GLMs and machine-learning techniques.
- Own a regular reporting cycle that enables the team to compare modelled predicted behaviours with actual observed behaviours, and decide when the cycle should trigger a revision or update to the underlying models.
- Take accountability for the infrastructure that enables the business to access technical pricing model insights, ensuring these insights are used to drive real change aligned with the UK strategy.
- Define and establish regular feedback cycles with Heads of Underwriting to support continuous improvement and refinement of technical pricing models, enhancing the ability to select and accurately price business according to the risk presented.
- Design, develop and produce regular reporting for the CUO and Heads of Underwriting to monitor the performance of the UK portfolio using technical pricing model outputs.
- Take accountability for your own pricing recommendations and for the performance of all pricing models used for your products.
- Act as a key point of contact for Underwriting Managers and Heads of Underwriting. Engage with them to understand underwriting strategy and identify how technical pricing can support their objectives.
- Work with and support the design and implementation of new technologies, including cloud-based data warehouses, data-visualisation products and new pricing software.
- Offer support and coaching to less experienced team members, sharing your experience and expertise to support their development.
Person specification:
We are looking for an individual who is highly analytical, driven and detail-oriented, with a passion for excellent execution. You will need to be articulate and demonstrate a track record of good decision-making, working under pressure and to tight deadlines, with the ability to understand problems quickly and create and implement solutions.
Pricing experience is required for this senior analyst role. More importantly, you will have an excellent understanding of the nuances involved in performing detailed analytics, combined with a strong commercial mindset.
Our must-haves:
- Graduate calibre, with at least three years of experience and proven success in a similar role.
- Practical application of in-depth statistical skills within a business environment.
- Strong analytical and pragmatic reasoning skills, with an aptitude for innovative problem-solving.
- High confidence in using data-analysis tools such as Excel and SQL.
- Knowledge of programming and statistical tools such as Python, Emblem and SAS.
- Experience of the end-to-end process of building technical pricing models.
- A high level of numerical competence and excellent data-gathering and manipulation skills.
- Experience of working closely with stakeholders and the ability to build strong working relationships.
- Excellent communication skills, with the ability to articulate complex information to technical and non-technical audiences.
- Deadline-oriented, hardworking, curious, passionate, enthusiastic and a self-starter.
Our nice-to-haves:
- A good understanding of Commercial Lines and/or Personal Lines insurance through various distribution channels.
- Working towards or having attained relevant professional qualifications.
Diversity and flexible working at Hiscox:
At Hiscox, we care about our people. We hire the best people for the job and are committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life does not always have to be nine to five, and we support flexible working wherever we can. No promises, but please speak to the resourcing team about the flexibility that may be available for this role.
We have introduced hybrid ways of working to encourage a healthy work-life balance. We anticipate that the successful candidate will be in the office up to two to three days per week. The London office will be the role’s hub, where team and collaboration time will take place.
We see it as the best of both worlds: structure and sociability on one hand, and independence and flexibility on the other. Work with amazing people and be part of a unique culture.
Summary:
Location: London
Type: Full time
Senior Pricing Analyst employer: Hiscox AG
Hiscox is an exceptional employer that prioritises the well-being and development of its employees, offering a dynamic work culture that embraces diversity and inclusivity. As a Workforce Change Manager, you will enjoy the benefits of hybrid working, allowing for a balanced professional and personal life while contributing to meaningful people change initiatives. With opportunities for professional growth and collaboration with talented colleagues across global locations like London, Lisbon, and York, Hiscox stands out as a place where your expertise can truly make an impact.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Pricing Analyst
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Hiscox AG. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Senior Pricing Analyst
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Hiscox AG.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Hiscox AG's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Hiscox AG
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Hiscox AG.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Hiscox AG will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Hiscox AG employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
