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- Tasks: Lead the strategy for car insurance renewals, optimising pricing and processes.
- Company: Dynamic insurance company focused on innovation and customer satisfaction.
- Benefits: Hybrid working, generous leave, bonuses, and exclusive discounts.
- Why this job: Make a real impact in the insurance industry while developing your career.
- Qualifications: Strong understanding of motor insurance pricing and advanced analytical skills.
- Other info: Collaborative environment with opportunities for professional growth and development.
The predicted salary is between 60000 - 85000 £ per year.
The Renewals Manager is accountable for the end to end commercial performance of the internal car insurance renewal portfolio, including cancellations performance. The role exists to optimise renewal pricing, add-ons and premium finance offerings and customer/operations/marketing processes by balancing customer retention, profitability, regulatory compliance and long term portfolio sustainability.
What you’ll be responsible for:
- Renewal Pricing and Process Strategy & Delivery: Define and own the renewal pricing strategy across internal car insurance products, aligned to business targets for retention, loss ratio, and lifetime value. Translate strategic objectives into actionable pricing rules, rating structures, process changes and optimisation approaches at renewal. Ensure renewal pricing and processes reflect customer risk, behaviour and value, whilst remaining competitive and compliant. Identify and implement pricing and process/communications strategies to minimise cancellation. Work with the Retail Pricing Manager to ensure that renewal performance is considered in any pricing and portfolio changes they make.
- Performance Management & Insight: Monitor and analyse renewal performance, including retention, churn, price elasticity, margin and customer outcomes. Identify trends, risks and opportunities within the renewal portfolio and recommend corrective or enhancing actions. Develop and maintain robust MI, dashboards and insight packs for senior leadership and governance forums. Conduct post implementation reviews of pricing, process and communications changes to assess effectiveness and customer impact.
- Stakeholder Collaboration: Work closely with the Underwriting team to ensure pricing and risk appetite remain aligned. Partner with Actuarial and Data Science teams on model development, segmentation and predictive insights. Collaborate with Distribution, Marketing, and Customer Operations to support renewal communications, propositions, and customer journeys. Act as the pricing subject matter expert for renewals in cross functional initiatives and decision making forums.
- Governance, Risk & Regulation: Ensure all renewal activities comply with FCA regulations, pricing practices rules, and Consumer Duty requirements. Own and manage pricing governance processes, including documentation, approvals, testing and audit readiness. Proactively identify and mitigate conduct, regulatory, and reputational risks associated with all renewal decisions.
- Leadership & Capability Development: Lead, coach, and develop pricing/renewal analysts, whether as direct reports or in collaboration with pricing colleagues, fostering a high performance and learning oriented culture. Set clear objectives, provide feedback and support career development within the team. Contribute to the ongoing development of pricing capability, tools and ways of working across the department.
- Continuous Improvement & Change: Drive continuous improvement in renewal pricing approaches, including automation, optimisation and advanced analytics. Drive continuous improvement in operations approaches including automation and advanced analytics to drive efficiency. Support strategic transformation initiatives such as pricing modernisation, platform changes and new product launches. Keep abreast of market developments, competitor activity, and emerging best practice in insurance pricing.
- Risk Management: To proactively identify, manage and mitigate business risks encountered as part of day-to-day role.
- Regulatory: Act with integrity, adhering to regulatory frameworks set out by the FCA and other regulatory bodies ensuring best possible outcomes for our customers.
What you’ll need:
- Strong commercial and technical understanding of motor insurance pricing and portfolio management.
- Understanding of operations processes, customer communications and customer behaviour.
- Advanced analytical capability, with experience interpreting complex data and modelling outputs.
- Ability to develop and operationalise pricing and process strategies that deliver measurable business outcomes.
- Excellent stakeholder management skills, with the confidence to influence and challenge at senior levels.
- Ability to influence across teams to deliver actions from cross-functional teams.
- Strong written and verbal communication skills, including the ability to simplify complex concepts.
- Experience using pricing and data tools such as SQL, SAS, Python, R, or equivalent pricing platforms.
- Proven ability to manage competing priorities and deliver high quality outputs under time pressure.
Our 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.
- Pension scheme – 5% employee, 6% employer.
- 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.
Renewals Manager in Bristol employer: Somerset Bridge Group
Contact Detail:
Somerset Bridge Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Renewals Manager in Bristol
✨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 services, especially in renewals management. This will help you tailor your answers and show you're genuinely interested.
✨Tip Number 3
Practice your pitch! Be ready to explain how your skills align with the role of Renewals Manager. Highlight your experience in pricing strategies and stakeholder collaboration to make a strong impression.
✨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 about their job search.
We think you need these skills to ace Renewals Manager in Bristol
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter for the Renewals Manager role. Highlight your experience in motor insurance pricing and portfolio management, as well as any relevant analytical skills. We want to see how you can bring value to our team!
Showcase Your Analytical Skills: Since this role requires advanced analytical capability, don’t shy away from sharing specific examples of how you've interpreted complex data or developed pricing strategies in the past. We love seeing those numbers and insights that demonstrate your impact!
Communicate Clearly: Strong written communication is key for this position. Keep your application clear and concise, avoiding jargon where possible. Remember, we want to understand your thought process and how you simplify complex concepts for stakeholders.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, it shows us you’re keen on joining the StudySmarter family!
How to prepare for a job interview at Somerset Bridge Group
✨Know Your Numbers
As a Renewals Manager, you'll need to demonstrate your strong analytical skills. Brush up on key metrics like retention rates, churn, and price elasticity. Be ready to discuss how you've used data to drive decisions in previous roles.
✨Understand the Market
Familiarise yourself with current trends in motor insurance pricing and competitor strategies. Showing that you’re aware of market developments will highlight your proactive approach and understanding of the industry.
✨Showcase Stakeholder Management Skills
Prepare examples of how you've successfully collaborated with cross-functional teams. Highlight your ability to influence senior stakeholders and navigate complex relationships, as this is crucial for the role.
✨Communicate Clearly
Practice simplifying complex concepts into clear, concise language. During the interview, aim to articulate your thoughts clearly, especially when discussing technical aspects of pricing and customer behaviour.
