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- Tasks: Develop and maintain risk pricing models using advanced analytics and machine learning.
- Company: Join Policy Expert, a fast-growing insurer transforming the industry with innovative technology.
- Benefits: Enjoy a £1,000 learning budget, hybrid work, enhanced parental leave, and travel loans.
- Why this job: Make a real impact in a dynamic environment while shaping competitive pricing strategies.
- Qualifications: Degree in Maths, Data, or related field; 1+ years in pricing or analytical roles.
- Other info: Be part of an inclusive team committed to diversity and equal opportunities.
The predicted salary is between 40000 - 50000 £ per year.
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: 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 utilizing 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: The Motor Risk Pricing Analyst is responsible for aiding the development and maintenance of risk pricing models and framework to support profitable and competitive pricing strategies. Collaborating with Underwriting, Insurance Risk and Financial Planning and Analysis teams, this role plays a critical part in ensuring the accuracy and efficiency of risk-based pricing initiatives.
- Primary Responsibilities
- Risk pricing: Develop and maintain robust risk models, underwriting overlays, and expense layers to ensure pricing accuracy and operational efficiency.
- Insights & Recommendations: Provide analytical insights and recommendations to inform pricing decisions and strategies.
- Risk model updates: Implement ad-hoc risk model changes driven by internal initiatives.
- Model performance monitoring: Track the performance of the models produced by the team (actuals vs predictions). Propose suggestions for models that are showing drift.
- Continuous improvement & Innovation: Support the identification and implementation of opportunities to enhance model sophistication, including data integration and process improvements.
Who are you: Degree in numerically based discipline e.g., Maths, Data, Statistics, Engineering. Data modelling techniques. 1+ years in pricing or analytical roles, in the insurance sector. Strong understanding of risk modelling, underwriting principles, and expense allocation. Proven ability to deliver projects within tight timelines. Proficiency in data modelling techniques and pricing tools; familiarity with machine learning applications is a plus. Strong problem-solving, stakeholder management, and communication skills.
This role will be based in our London office in a 50/50 Hybrid mode.
Learning budget of £1,000 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.
Risk Pricing Analyst - Motor employer: Policy Expert
Contact Detail:
Policy Expert Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Risk Pricing Analyst - Motor
✨Tip Number 1
Network like a pro! Reach out to people in the insurance industry, especially those working in pricing or analytics. A friendly chat can lead to insider info about job openings and even referrals.
✨Tip Number 2
Prepare for interviews by brushing up on your risk modelling knowledge and data analysis skills. Be ready to discuss how you can contribute to developing robust pricing models and enhancing operational efficiency.
✨Tip Number 3
Showcase your problem-solving skills during interviews. Think of examples where you've tackled challenges in previous roles, especially related to pricing strategies or model performance monitoring.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive and engaged with our company.
We think you need these skills to ace Risk Pricing Analyst - Motor
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Risk Pricing Analyst role. Highlight your experience in risk modelling and data analysis, and don’t forget to mention any relevant projects you've worked on that showcase your skills.
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 your background makes you a perfect fit for our team at Policy Expert.
Showcase Your Analytical Skills: In your application, be sure to highlight your analytical skills and any experience with machine learning or data modelling techniques. We love seeing how candidates have used these skills to drive results in previous roles.
Apply Through Our Website: We encourage you to apply through our website for the best chance of success. It’s super easy, and you’ll be able to see all the details about the role and our company culture!
How to prepare for a job interview at Policy Expert
✨Know Your Numbers
As a Risk Pricing Analyst, you'll be dealing with data and models all day. Brush up on your numerical skills and be ready to discuss specific examples of how you've used data modelling techniques in previous roles. This will show that you understand the core of what the job entails.
✨Understand the Industry
Familiarise yourself with the insurance sector, especially motor insurance. Be prepared to talk about current trends, challenges, and innovations in pricing strategies. This knowledge will demonstrate your genuine interest in the role and the company.
✨Showcase Your Problem-Solving Skills
Think of a few scenarios where you've successfully tackled complex problems, particularly in pricing or analytics. Be ready to explain your thought process and the impact of your solutions. This will highlight your analytical mindset, which is crucial for this position.
✨Communicate Clearly
Strong communication skills are key in this role, especially when collaborating with different teams. Practice explaining technical concepts in simple terms, as you may need to present your insights to stakeholders who aren't as data-savvy. Clear communication can set you apart from other candidates.