At a Glance
- Tasks: Create innovative pricing solutions and lead a dynamic team in the insurance sector.
- Company: Join Markerstudy Group, a major player in the UK insurance market.
- Benefits: Enjoy remote work flexibility, competitive salary, and career development opportunities.
- Other info: Be part of a growing team with excellent career growth potential.
- Why this job: Make a real impact with your analytical skills in a fast-paced environment.
- Qualifications: Experience in insurance pricing and proficiency in data science programming languages required.
The predicted salary is between 63000 - 77000 £ per year.
Locations: This can be a largely remote position with the occasional travel to the office closest to you. We have offices based in Manchester, Stoke, London and Peterborough.
Role Overview
Markerstudy Group are looking for a Principal Pricing Analyst to join a quickly growing and developing pricing department across a range of insurance lines. You will utilise your technical expertise, in-depth knowledge of the insurance industry and market leading tools to produce creative and actionable pricing solutions. This role requires a large element of coaching team members and championing best practice across the department.
Reporting to our Associate Director, you will make use of WTW Radar and Emblem and you will have responsibility for the development and maintenance of predictive models (GLM) and price optimisation including machine learning algorithms (GBM), LTV (Lifetime Value) and fair pricing principles. Ultimately creating value for our customers. Bringing best in class pricing experience, you'll be expected to provide pricing proposals considering customer and commercial outcomes, communicating these in a compelling, impactful way to all levels of stakeholders to help us make the right decisions at the right times.
You'll work on multiple priorities within a fast paced, dynamic environment. You'll need to be able to manage the expectations of stakeholders alongside prioritising your workload.
As a Principal Pricing Analyst, you will use your advanced analytical skills to:
- Be a key stakeholder influencing the direction & outcome of projects
- Provide technical leadership on WTW toolkit (in particular Radar Optimiser) to drive forward effective and efficient solutions
- Provide thought leadership on optimisation and modelling concepts
- Research, develop and champion the use of best practice methods and standards and ensure they are embedded throughout the department
- Lead the development of the Groups pricing capability
- Query large databases to extract and manipulate data that is fit for purpose
- Oversee and assist in the development and implementation of the market leading methodologies you've identified
- Continuously evaluate methodologies, understanding how they fit into the wider piece, and identify where they can be improved
Key Skills and Experience:
- Previous experience within general insurance pricing
- Experience with some of the following predictive modelling techniques; Logistic Regression, GBMs, Elastic Net GLMs, GAMs, Decision Trees, Random Forests, Neural Nets and Clustering
- Experience in statistical and data science programming languages (e.g. R, Python, PySpark, SAS, SQL)
- A quantitative degree (Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science)
- Experience of WTW's Radar software
- Proficient at communicating results in a concise manner both verbally and written
About us
Markerstudy Group is a major force in the UK general insurance market, combining scale with innovation. Markerstudy Group have deep product and distribution reach through multiple brands and an experienced leadership foundation coordinating diverse and fast-evolving business units. The Group employs more than 6,000 people across the UK.
Pricing Analyst Analyst employer: Markerstudy Group
Markerstudy is an exceptional employer, offering a dynamic work culture that fosters collaboration and innovation in the heart of Manchester. With hybrid working options, employees enjoy a flexible environment while contributing to impactful analytics solutions for leading insurance brands. The company prioritises employee growth through continuous development opportunities, making it an ideal place for those passionate about data and looking to advance their technical and commercial skills.
StudySmarter Expert Advice🤫
We think this is how you could land Pricing Analyst Analyst
✨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 Markerstudy Group). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨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 Markerstudy Group. 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 Pricing Analyst Analyst
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 Markerstudy Group.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Markerstudy Group. 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 Markerstudy Group
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Markerstudy Group 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 Markerstudy Group, 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 Markerstudy Group'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.
