Associate Pricing Analyst

We are recruiting for an Associate Pricing Analyst to join our Retail Pricing team. The purpose of this role within the Predictive Modelling department is to support the development, implementation and monitoring of advanced predictive models to enhance the accuracy and efficiency of optimisation pricing strategies for motor insurance products. This role involves analysing large data sets, identifying key factors, and collaborating with various departments to ensure data-driven decision-making for retail pricing, as well as to provide support to Senior Analysts and Managers.

What you'll be responsible for:

• Assist in the development and refinement of predictive models for retail pricing.
• Collaborate with senior analysts to ensure models are robust and accurately reflect retail market conditions.
• Assist in the validation and testing of predictive models for retail pricing to ensure accuracy and reliability.
• Ensure data quality and integrity of data used in predictive models.
• Conduct comprehensive data analysis to identify key risk factors and trends that impact retail pricing for motor insurance products.
• Utilize advanced statistical techniques to extract insights from large data sets.
• Support Senior Analysts and Managers to evolve the Retail Price Optimisation framework.
• Utilize insights from market research and competitor analysis to refine pricing recommendations.
• Work closely with underwriting, finance, and product development teams to provide actuarial insights and support data-driven decision-making for retail pricing.
• Communicate findings and recommendations clearly to non-actuarial stakeholders.

Reporting and Documentation:

• Prepare detailed reports and documentation of predictive modelling projects focused on retail pricing.
• Present findings and recommendations to senior management and stakeholders.

Regulatory Compliance:

• Ensure pricing models and practices comply with relevant regulations and guidelines, including those issued by the Financial Conduct Authority (FCA).
• Stay updated on industry trends, regulatory changes, and advancements in predictive modelling techniques.
• Apply new knowledge to enhance the effectiveness of retail pricing models.
• Contribute to the development and testing of new pricing techniques and algorithms.
• Explore and leverage machine learning tools to enhance predictive accuracy.

What you'll need:

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics, or a related field. Advanced degrees or additional certifications are a plus.
• Strong analytical and problem-solving skills.
• Proficiency in using statistical analysis software (e.g., R, SAS, Python, Snowflake) for data analysis and modelling.
• Familiarity with actuarial pricing techniques, including GLMs (Generalized Linear Models) and machine learning algorithms.
• Expertise in Radar and Radar Optimiser is desirable.
• Knowledge of predictive modelling techniques and actuarial principles is required.
• Experience of modelling within Radar, Emblem and python is an advantage.
• Ability to interpret large, complex datasets and derive actionable insights.
• Excellent verbal and written communication skills.
• Ability to convey complex actuarial concepts and findings to non-actuarial stakeholders in a clear and concise manner.
• Ability to work effectively with cross-functional teams.
• Strong interpersonal skills and a collaborative approach to problem-solving.
• High level of accuracy in data analysis and reporting.
• Meticulous attention to detail in all aspects of actuarial work.

Benefits:

• Hybrid working – 2 days in the office and 3 days working from home.
• 25 days annual leave, rising to 27 days over 2 years’ service and 30 days after 5 years’ service. Plus bank holidays!
• Discretionary annual bonus.
• Flexible working – we will always consider applications for those who require less than the advertised hours.
• Flexi-time.
• Healthcare Cash Plan – claim cashback on a variety of everyday healthcare costs.
• Electric vehicle – salary sacrifice scheme.
• 100’s of exclusive retailer discounts.
• Professional wellbeing, health & fitness app - Wrkit.
• Enhanced parental leave, including time off for IVF appointments.
• Religious bank holidays – if you don’t celebrate Christmas and Easter, you can use these annual leave days on other occasions throughout the year.
• Life Assurance - 4 times your salary.
• 25% Car Insurance Discount.
• 20% Travel Insurance Discount.
• Cycle to Work Scheme.
• Employee Referral Scheme.
• Community support day.

About Somerset Bridge Group:

Somerset Bridge Group is dedicated to delivering fair products and innovative services in the insurance industry. Our group focuses on underwriting, broking, and claims handling to provide sustainable and innovative insurance solutions. Somerset Bridge Insurance Services Limited, operating under GoSkippy and Vavista, offers insurance coverage to over 700,000 customers. Somerset Bridge Limited handles underwriting and claims, processing almost 50,000 claims annually. Somerset Bridge Shared Services Limited provides essential support functions to ensure operational efficiency and compliance. With a strong commitment to values, culture, and customer service excellence, Somerset Bridge Group is recognised for its industry awards and growth. Join us to be part of a dynamic team that fosters creative thinking and personal development.

We are very proud to have been awarded a Silver Accreditation from Investors in People! We recognise that all of our people contribute to our success. That's why we are always looking for talented people to join our team - people who share our vision, who are passionate about what they do, and who want to be part of something special.

Equal Opportunity Employer:

Somerset Bridge Group is committed to creating a diverse environment and is proud to be an Equal Opportunity Employer. We prohibit discrimination or harassment of any kind based on race, color, religion, national origin, sexual orientation, gender, gender identity or expression, age, pregnancy, physical or mental disability, genetic factors or other characteristics protected by law. SBG makes hiring decisions based solely on qualifications, skills and business requirements.