At a Glance
- Tasks: Lead technical pricing calibration and ensure models are robust and aligned with underwriting strategy.
- Company: Join Markel, a Fortune 500 company with a diverse global community.
- Benefits: Competitive salary, annual bonus, strong benefits, and opportunities for career development.
- Other info: Flexible working patterns and a commitment to diversity and inclusion.
- Why this job: Make a meaningful impact on pricing quality across a specialty portfolio.
- Qualifications: Experience in technical pricing and strong actuarial expertise required.
The predicted salary is between 58540 - 71548 £ per year.
This role sits within the Portfolio Management team and leads on the technical calibration of our pricing models across International. Working closely with the regional Portfolio Managers in each of our five divisions (London Market, APAC, UK, Europe and Canada), you will make sure models are actuarially sound, well calibrated and genuinely useful to the underwriters who rely on them. You will also enable those local PMs to build and run their own pricing model maturity frameworks, providing the standards, tools and technical steer to do this consistently.
This is an opportunity to shape pricing quality across a specialty portfolio at a point where the technical foundations are either already built or transformation is imminently planned. The Pricing Transformation team, who own our HX pricing product, have built a modern, code-based pricing capability across multiple lines of business. You will work hand in hand with them to deliver calibration work, model changes and technical standards within the HX platform.
You will provide independent actuarial oversight: forming views on rate adequacy, challenging assumptions, identifying model limitations, and ensuring pricing outputs support profitable underwriting decisions. You will be a credible actuarial voice to underwriting teams and senior stakeholders, not a developer or data scientist.
Who we are:
The International Portfolio Analytics (IPA) team is a multi-functional group embedded within the underwriting business and represented in senior leadership forums, supporting all divisions of Markel International. Our focus spans four areas: Portfolio Management, Pricing Transformation, Catastrophe & Exposure Management, and an AI Centre of Enablement.
Part of Markel Group (NYSE – MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.
What you’ll be doing:
- Lead on technical pricing calibration across International, ensuring models remain robust, accurate and aligned to underwriting strategy.
- Lead the end-to-end calibration and recalibration process for pricing models, setting risk-based review cycles based on materiality, performance and model maturity.
- Enable the regional Portfolio Managers across all five divisions to build and maintain their own pricing model maturity frameworks, providing the standards, tools and technical steer to do so consistently.
- Work closely with, and in support of, the local Portfolio Managers, adapting to the different operating models and levels of maturity across each region rather than imposing a single fixed approach.
- Partner hand in hand with the Pricing Transformation team to ensure calibration work, model changes and technical standards are delivered effectively within the HX platform.
- Provide a consistent technical pricing standard across the divisions, so that local models remain comparable, well governed and fit for purpose despite differences in local business, systems and regulation.
- Translate portfolio management insights from each division into pricing model improvements, and feed pricing model data back to support segment-level performance analysis.
- Collaborate with Actuarial and the Underwriting Strategy & Performance team on methodology, technical standards, peer review and final model sign-off.
- Support the divisional PMs as HX is rolled out across UK, Europe and Canada, and as the new portfolio management team is established in APAC.
- Coach and develop pricing and portfolio management colleagues across the divisions, raising technical calibration capability throughout the function.
Key Skills:
- Significant experience in technical pricing within the London Market or specialty insurance sector.
- Strong actuarial and pricing expertise, with deep experience of pricing model development, validation, calibration and performance monitoring.
- Experience designing and implementing pricing governance, controls and model management frameworks.
- Strong understanding of rating methodologies, technical vs market ratios, rate adequacy concepts and portfolio performance drivers.
- Ability to balance technical rigour with commercial pragmatism, turning analytical insight into practical business outcomes.
- Experience influencing senior underwriting, actuarial and executive stakeholders.
- Strong communication skills, with the ability to explain complex technical concepts to non-technical audiences.
- Experience working across multidisciplinary teams including actuaries, portfolio managers, developers and data specialists.
- A track record of building standards, improving processes and embedding procedure within growing organisations.
- A collaborative leadership style with a passion for developing people and improving capability across a team.
What’s in it for you?
A great starting salary plus annual bonus & strong benefits package, including up to 16% company pension scheme, private medical and dental cover, income protection, life assurance, electric car scheme, travel insurance, and 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave.
Are you ready to play your part? If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward, reach their full potential and seize opportunities. You’ll find your fit amongst our diverse global community of optimists and problem-solvers.
Join us and play your part in something special!
Technical Pricing Lead employer: Markel
Markel is an exceptional employer that prioritises employee well-being and professional growth, offering a competitive starting salary of £28,000 along with monthly bonuses and comprehensive benefits. Located in the vibrant city centre of Manchester, our supportive team environment fosters collaboration and success, making it an ideal place for those seeking a rewarding career in insurance sales without the hassle of late shifts.
StudySmarter Expert Advice🤫
We think this is how you could land Technical Pricing Lead
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Markel). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
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✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Markel. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Technical Pricing Lead
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Markel.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Markel. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Markel
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Markel to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Markel, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Markel's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
