Head of Pricing and Underwriting

About Marshmallow
We exist to make migration easy. A systemic problem of this magnitude requires a team of curious thinkers who relentlessly pursue solutions. Those who constantly challenge the why, dismantle assumptions, and always take action to build a better way. A Marshmallow career is built on a cycle of continuous growth, with learning at its core. You will be challenged to raise the bar on your capabilities and supported with the right tools and guidance to do so. This ensures you can deliver impactful work and drive change.

Pricing at Marshmallow
Our Pricing & Underwriting function sits at the heart of how we grow sustainably as a business. Working closely with our insurer in Gibraltar and our internal pricing team, we ensure that the prices we put into the market are both fair for customers and are robust for Marshmallow's long‑term performance. This team is responsible for understanding exactly what business we're writing, how our models are behaving, and how changes in the external market are impacting our portfolio. By continuously scrutinising loss ratios, models, and guardrails, we help the business strike the right balance between volume, risk, and profitability. Pricing & Underwriting is one of the most critical levers in achieving our mission, and we're looking for someone who can combine deep technical expertise with independent oversight to keep us on track, partnering collaboratively with our pricing team, board, and regulator to deliver the best outcomes.

What you'll be doing
Act as the independent, regulated individual for pricing and underwriting. You will be responsible for the oversight and performance of the motor portfolio, ensuring our net pricing delivers target loss ratios and volumes.
Build and maintain predictive models and analytical frameworks to independently validate and challenge the work of the pricing team.
Continuously monitor business written, portfolio mix, and market movements, identifying emerging risks or opportunities and recommending adjustments.
Provide clear, data-led insight and recommendations to senior stakeholders, including the Marshmallow team, insurer, Board, and regulator.
Define and refine pricing and underwriting guardrails, working collaboratively with the pricing team to test, implement, and review their impact over time.
Champion a culture of rigorous validation, control, and continuous improvement across pricing and underwriting practices.
At times, spend time in Gibraltar with our team there.

Who You Are
You're naturally curious and a bit obsessed about the numbers – you love digging into data, spotting patterns, and challenging whether things are really working as expected.
You balance independence with collaboration: you're comfortable acting as an objective voice, constructively challenging others without authority, and influencing senior stakeholders through evidence and clear reasoning.
You communicate complex, technical topics in a simple, confident way, and you're at ease presenting recommendations to boards, regulators, and non-technical colleagues.
You take clear ownership and accountability for your work, standing behind the results, learning from mistakes, and continuously looking for ways to improve how things are done.

What You'll Bring
Strong academic background in a numerate discipline (e.g. Mathematics, Statistics, Actuarial Science) and proven experience in insurance pricing and/or underwriting.
Deep understanding of motor insurance pricing, including GLMs, claims models and how these interact to drive net prices and loss ratios.
Proven experience building and interrogating predictive models and tools to monitor portfolio performance, identify issues and recommend corrective actions.
Experience operating in, or closely alongside, a regulated function (e.g. actuarial, pricing or underwriting) with the confidence to engage with boards and regulators.
Excellent stakeholder management and communication skills, with the ability to challenge constructively, influence without direct line management and present complex analysis clearly to non-technical audiences.

Perks of the job
Hybrid working - Spend 4 days per week with your team in our collaborative London office, and own your own working hours. The rest is up to you.
Competitive bonus scheme - designed to reward and recognise high performance.
Flexible benefits budget - £50 per month to spend on a Ben Mastercard meaning you get your own benefits budget to spend on things you want. Whether that's subscriptions, night classes, the big shop or a forest of houseplants. Pretty much anything goes.
Mental wellbeing support – Access therapy and mental health sessions through Oliva.
Learning and development – Personal budgets for books and training courses to help you grow in your role. Plus 2 days a year - on us! - to further your skillset.
Private health care - Enjoy all the benefits Vitality has to offer, including reduced gym memberships and discounts on smartwatches.
Medical cash plan - To help you with the costs of dental, optical and physio (plus more!).
Tech scheme - Get the latest tech for less.
Plus all the rest; 33 days holiday (including bank holidays), pension, cycle to work scheme, monthly team socials and company-wide socials every month!

Our process
We break it up into 4 stages:
Initial call with someone in the Talent team (30 mins).
A past experience interview with the hiring manager Paula (1 hour).
A technical interview, including task and presentation with 2 senior leaders (1.5 - 2 hours).
A final values interview with our CEO Alexander (1 hour).
We'll let you know if you're invited to an interview or not. But, as a small team with a lot of applications to consider, we can't give individual feedback on each application.
We are in a position to offer sponsorship and/or a visa for this position.

Background checks
We will carry out standard background checks, including a DBS and a Cifas check. These help ensure there are no ongoing criminal proceedings and support the prevention of fraud and other forms of serious misconduct. If anything of concern is identified, it may affect your eligibility for certain roles or services. Feel free to ask our Talent Acquisition team if you have any questions about this!

Everyone belongs at Marshmallow
At Marshmallow, we want to hire people from all walks of life with the passion and skills needed to help us achieve our company mission. To do that, we're committed to hiring without judgement, prejudice or bias. We encourage everyone to apply for our open roles. Gender identity, race, ethnicity, sexual orientation, age or background does not affect how we process job applications. We're working hard to build an inclusive culture that empowers our people to do their best work, have fun and feel that they belong.

Recruitment privacy policy
We take privacy seriously here at Marshmallow. Our Recruitment privacy notice explains how we process and handle your personal data.