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- Tasks: Analyse pricing data and support underwriters with innovative solutions.
- Company: Join Hiscox, a forward-thinking specialist insurer with a unique culture.
- Benefits: Flexible working, great employee benefits, and a supportive team environment.
- Why this job: Shape the future of insurance while developing your analytical skills.
- Qualifications: Degree in a numerical subject and strong communication skills required.
- Other info: Opportunity for career growth and to challenge the status quo.
The predicted salary is between 28800 - 43200 £ per year.
Build a brilliant future with Hiscox.
About the team/division: Our pricing team is embedded within the Marine, Energy and Specialty (MES) division within Hiscox London Market. We write approximately $400m of Gross Written Premium, seventy percent of which is written through the open market and twenty five percent of which we lead. Our ambition is to profitably grow to approximately $550m by 2030.
We are looking for a pricing analyst to join our pricing team to focus on the suite of MES classes: Cargo, Hull, Marine & Energy Liability, Power & Renewables and Upstream. The role will involve a mix of case pricing, model development, portfolio analytics and supporting our goal of beating our business plan. We are not a back-office function – we are trusted experts, empowered to challenge convention, drive profitability and see our insights translated into real-world outcomes. Expectations are high, but with the opportunity to help to shape the future of a division with a proven track record at Hiscox, this is a rewarding and exciting role.
The role
For this role we are looking for someone highly numerate, who is innovative and eager to learn. We want an individual who can develop a high level of technical expertise and communicate effectively to a wide range of stakeholders. You will need to be inquisitive and think on your feet to find solutions to problems where there is not an established approach. You will need to confidently make sound business decisions and back these up with relevant data. You should be able to work collaboratively across multiple teams and have the ability to balance multiple workstreams.
What you will be doing as a Pricing Analyst in the MES team:
- Providing analytical support for MES underwriters through high quality case pricing analysis via a mixture of stochastic modelling, experience analysis and benchmarking.
- Producing portfolio analytics to understand performance and identify opportunities to improve the business. Communicating this to underwriters regularly via monthly meetings.
- Building new and improving existing Pricing models, combining technical actuarial techniques with market knowledge and balancing data enrichment with speed and usability.
- Interrogating external data, leveraging advanced analytics and tools to create competitive advantage and enhance our Pricing and underwriting decisions.
- Working collaboratively and communicating complex issues clearly and concisely to a wide variety of stakeholders including underwriters, exposure management, finance and MI.
Our must-haves:
- Educated to degree level in a numerical subject, 2:1 or above
- Strong communication skills
- Innovative with strong problem solving ability
- Speak and write fluent business English
Our nice-to-haves:
- Open to studying towards IFoA qualification
- Excel knowledge
- Coding software knowledge (SQL/R/Python)
About Hiscox: As an international specialist insurer, we are far removed from the world of mass market insurance products. Instead, we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things. We insure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo, and look for solutions.
Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places. Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.
Diversity and flexible working at Hiscox: At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life doesn’t always have to be ‘nine to five’ and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.
Apply now for further information: You can follow Hiscox on LinkedIn, Glassdoor and Instagram (@HiscoxInsurance). Work with amazing people and be part of a unique culture. If you want to help build a brilliant future; work with amazing people; be part of a unique company culture; and, of course, enjoy great employee benefits that take care of your mental and physical wellbeing, come and join us.
Junior Pricing Analyst employer: Hiscox
Contact Detail:
Hiscox Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Junior Pricing Analyst
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those at Hiscox. A friendly chat can open doors that applications alone can't.
✨Tip Number 2
Prepare for interviews by practising common questions and scenarios related to pricing analysis. Show off your problem-solving skills and how you can think on your feet!
✨Tip Number 3
Don’t just focus on your technical skills; highlight your communication abilities too. Being able to explain complex data clearly is key in this role.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you're genuinely interested in joining the team.
We think you need these skills to ace Junior Pricing Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Junior Pricing Analyst role. Highlight your numerical skills and any relevant experience that aligns with the job description. We want to see how you can contribute to our pricing team!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to showcase your innovative mindset and problem-solving abilities. Let us know why you're excited about joining Hiscox and how you can help us achieve our goals.
Showcase Your Communication Skills: Since strong communication is key for this role, make sure to demonstrate your ability to convey complex ideas clearly in your application. We love candidates who can engage with various stakeholders effectively!
Apply Through Our Website: Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re serious about joining our unique culture at Hiscox.
How to prepare for a job interview at Hiscox
✨Know Your Numbers
As a Junior Pricing Analyst, you'll need to demonstrate your numerical prowess. Brush up on key statistical concepts and be ready to discuss how you've applied them in past experiences. This will show that you can handle the analytical demands of the role.
✨Communicate Clearly
Strong communication skills are a must-have for this position. Practice explaining complex data insights in simple terms. You might even want to prepare a few examples of how you've successfully communicated with stakeholders in the past.
✨Show Your Problem-Solving Skills
The role requires innovative thinking and the ability to tackle problems without established solutions. Prepare to discuss specific challenges you've faced and how you approached them. Highlight any creative solutions you implemented to overcome obstacles.
✨Familiarise Yourself with Tools
Knowledge of Excel and coding software like SQL, R, or Python is a bonus. If you have experience with these tools, be ready to talk about how you've used them in your previous roles. If not, consider brushing up on the basics to show your eagerness to learn.
