At a Glance
- Tasks: Analyse retail pricing strategies and optimise pricing structures using advanced analytics.
- Company: Join a fast-growing insurance company ranked No.1 in the UK for home insurance.
- Benefits: Hybrid working, generous learning budget, enhanced parental leave, and pension matching.
- Other info: Inclusive culture with opportunities for personal and professional growth.
- Why this job: Make a real impact on pricing strategies while working with cutting-edge technology.
- Qualifications: Degree in Maths, Data, or Statistics; 2+ years in insurance pricing.
The predicted salary is between 40000 - 50000 £ per year.
Policy Expert is a forward-thinking business that loves to get things done. Leveraging proprietary technology and smart data, we offer reliable products and a wow customer experience. Having achieved rapid growth since being founded in 2011, we’ve won over 1.5 million customers in Home, Motor and Pet insurance and have been ranked the UK’s No.1-rated home insurer by Review Centre since 2013. As one of the fastest growing Insurers in the UK, you will enjoy a fast-paced environment and thrive in a forward-thinking culture.
You will be part of a team utilising advanced analytics and machine learning techniques applied in pricing structures. You will be working in collaboration with the data engineering team and the quote engine team to support the bespoke pricing algorithms.
Your day to day:
- Support the Group Head of Retail Pricing and Implementation and our Retail Pricing Manager to achieve the most efficient pricing by selecting the optimal balance between contribution and volume (Efficient Frontier) across all products underwritten by Policy Expert.
- Identify day to day pricing changes between optimisation cycles to meet sales targets.
- Scan market movements to identify appropriate responses across Policy Expert products.
- Review portfolio mix and business performance by client segment to identify optimal pricing changes.
- Liaise with Retail & Marketing and other relevant stakeholders to support cross‑functional projects e.g., marketing campaigns, branding, product adjustments e.g., excess changes.
- Develop a good understanding of loss ratio development trends to identify appropriate short‑term and longer‑term responses.
- Support with the preparation of the Trading Committee, including material, follow‑up actions etc.
- Set pricing for ancillary products.
Who are you:
- Degree in a numerically based discipline e.g., Maths, Data, Statistics.
- Experience in data modelling techniques.
- 2+ years insurance pricing experience.
- Commercially focused.
- Performance management.
- Reactivity and speed in execution.
- Decision making.
Benefits & Working Conditions:
- Role based in London office, 50/50 Hybrid mode.
- We match your pension contributions up to 7%.
- Learning budget of £1,000 a year + Study leave.
- Enhanced maternity & paternity.
- Travel season ticket loan.
- Access to a wide selection of London O2 events and use of a Private Lounge.
Equal Opportunity Statement: We pride ourselves on being an equal opportunity employer. We treat all applications equally and recruit based solely on an individual’s skills, knowledge, and experience. The quality and growing diversity of our team is a testament to this commitment. At Policy Expert, we are committed to fostering an inclusive and supportive environment for all candidates. If you require any reasonable adjustments during the interview process to accommodate your needs, please let us know. We are dedicated to ensuring every candidate has an equal opportunity to succeed and will work with you to provide the necessary support.
Retail Pricing Analyst employer: Policy Expert
At Policy Expert, we pride ourselves on being a forward-thinking employer that champions innovation and collaboration. Our London office offers a vibrant work culture with a 50/50 hybrid model, competitive benefits including a generous learning budget and enhanced family leave, and a commitment to employee growth through continuous development opportunities. Join us in a dynamic environment where your contributions directly impact our mission to deliver exceptional customer experiences and drive our rapid growth in the insurance sector.
StudySmarter Expert Advice🤫
We think this is how you could land Retail Pricing Analyst
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their products and pricing strategies so you can show off your knowledge and enthusiasm during the chat.
✨Tip Number 3
Practice your problem-solving skills! As a Retail Pricing Analyst, you'll need to think on your feet. Try mock interviews with friends or use online resources to sharpen your analytical thinking.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen. Plus, we love seeing candidates who are proactive about joining our team at Policy Expert.
We think you need these skills to ace Retail Pricing Analyst
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Retail Pricing Analyst role. Highlight your experience in data modelling and insurance pricing, and don’t forget to showcase any relevant projects or achievements that align with our fast-paced, forward-thinking culture.
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you’re passionate about the role and how your skills can contribute to our team. Be sure to mention your numerically based degree and any specific experiences that demonstrate your commercial focus.
Showcase Your Analytical Skills:As a Retail Pricing Analyst, analytical skills are key. In your application, provide examples of how you've used advanced analytics or machine learning techniques in past roles. This will show us you’re ready to dive into the data and make impactful decisions.
Apply Through Our Website:We encourage you to apply through our website for the best chance of success. It’s the easiest way for us to keep track of your application and ensures you’re considered for the role. Plus, we love seeing candidates who take the initiative!
How to prepare for a job interview at Policy Expert
✨Know Your Numbers
As a Retail Pricing Analyst, you'll be dealing with data modelling and pricing strategies. Brush up on your numerical skills and be ready to discuss how you've used data to drive decisions in previous roles. Prepare examples that showcase your analytical prowess.
✨Understand the Market
Familiarise yourself with current trends in the insurance market, especially regarding home, motor, and pet insurance. Be prepared to discuss how market movements can impact pricing strategies and what you would do to respond effectively.
✨Collaborate Like a Pro
This role involves working closely with various teams, including data engineering and marketing. Think of examples where you've successfully collaborated across departments to achieve a common goal. Highlight your communication skills and ability to work in a fast-paced environment.
✨Show Your Commercial Awareness
Demonstrate your understanding of the balance between contribution and volume in pricing. Be ready to discuss how you would approach setting prices for different products and how you would identify optimal pricing changes based on performance metrics.
