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For Companies At a Glance
- Tasks: Drive innovative pricing strategies and optimise profitability across insurance products.
- Company: Join a forward-thinking insurance company transforming the industry with smart data and technology.
- Benefits: Enjoy a competitive salary, learning budget, hybrid work, and access to exclusive events.
- Why this job: Be part of a dynamic team redefining pricing in insurance and making a real impact.
- Qualifications: Degree in a numerically based discipline and 5+ years of insurance pricing experience.
- Other info: Inclusive environment with excellent career growth and support for all candidates.
The predicted salary is between 36000 - 60000 ÂŁ per year.
Overview
Are you ready to transform the insurance industry?
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.
About the pricing team
We’re at the start of an exciting transformation. With bold investment in pricing, data, and technology, we’re building a new Retail Price Optimisation team to redefine how we make pricing decisions. By combining advanced analytics, machine learning, rich data, and modern cloud infrastructure, we aim to unlock faster, smarter, and fairer pricing — creating real impact for both our customers and the business.
Your day to day
Reporting directly to the Group Head of Retail Pricing and Implementation, this role plays a pivotal part in shaping Policy Expert’s growth story. By harnessing cutting-edge pricing strategies and optimising the balance between contribution and volume (the Efficient Frontier), you will unlock sustainable profitability across all underwritten products. Beyond pricing optimisation cycles, you’ll act as a catalyst for commercial innovation, collaborating closely with Retail, Marketing, and cross-functional teams to drive bold initiatives that keep us ahead of the market.
Primary responsibilities
- Identify day to day pricing changes between optimisation cycles to meet sales targets.
- Scan market movements to identify appropriate response 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 with 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.
- Coordinate the preparation for the Trading Committee, including supporting material, follow up actions etc.
- Set pricing for ancillary products.
- Day to day management of Analysts and Senior Analysts in the Retail Pricing team.
- Act as deputy for the Group Head of Retail Pricing & Implementation when required.
Secondary responsibilities
- Analyse the information provided by the Risk Pricing and Optimisation teams (e.g., on loss ratio trends).
- Support the Group Head of Retail Pricing and Optimisation with the identification of opportunities and improvement areas across the whole of the pricing team e.g., future technology, modelling techniques and analytical processes.
Key Skills/Qualifications
- Degree in numerically based discipline e.g., Maths, Data, Statistics
- Data modelling techniques
- 5+ years insurance pricing experience
- Commercially focussed
- Performance management
- Reactivity and speed in execution
- Decision making
This role will be based in our London office in a 50/50 Hybrid mode.
Learning budget of ÂŁ1,000 a year + Study leave (with encouragement to use it)
Enhanced maternity & paternity
Travel season ticket loan
️ Access to a wide selection of London O2 events and use of a Private Lounge
What We Stand for and Next Steps
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 do not hesitate to 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.
We aim to be in touch within 14 working days of your application – you will be notified if successful or unsuccessful. Please be encouraged to apply even if you do not meet all the requirements.
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Retail Pricing Manager employer: Policy Expert
Contact Detail:
Policy Expert Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Retail Pricing Manager
✨Tip Number 1
Network like a pro! Reach out to people in the insurance industry, especially those working in pricing. A friendly chat can lead to insider info about job openings or even a referral.
✨Tip Number 2
Show off your skills! Prepare a portfolio or case studies that highlight your experience with data modelling and pricing strategies. This will give you an edge during interviews and show how you can contribute to the team.
✨Tip Number 3
Stay updated on market trends! Follow industry news and reports related to insurance pricing. Being knowledgeable about current events will impress interviewers and demonstrate your passion for the field.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take the initiative to connect directly with us.
We think you need these skills to ace Retail Pricing Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Retail Pricing Manager role. Highlight your experience in insurance pricing and any relevant data modelling techniques. We want to see how your skills align with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about transforming the insurance industry and how you can contribute to our pricing team. Keep it engaging and relevant to the job description.
Showcase Your Analytical Skills: Since this role involves advanced analytics and decision-making, make sure to showcase your analytical skills in your application. Provide examples of how you've used data to drive pricing strategies or improve business performance in the past.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at Policy Expert
✨Know Your Numbers
As a Retail Pricing Manager, you'll need to demonstrate your understanding of data modelling and analytics. Brush up on key metrics related to pricing strategies and be ready to discuss how you've used data to drive decisions in the past.
✨Showcase Your Commercial Acumen
This role is all about balancing contribution and volume. Prepare examples of how you've successfully navigated pricing changes in response to market movements. Highlight your experience in optimising profitability while maintaining customer satisfaction.
✨Collaborate Like a Pro
Since this position involves working closely with Retail and Marketing teams, think of instances where you've collaborated cross-functionally. Be ready to share how you’ve driven initiatives that required input from various stakeholders.
✨Prepare for the Trading Committee
Understanding the preparation for the Trading Committee is crucial. Familiarise yourself with what materials are typically needed and be prepared to discuss how you would approach this task. Showing that you can coordinate effectively will set you apart.
