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- Tasks: Lead the development of pricing models for motor insurance and analyse risk factors.
- Company: Join a dynamic team in Bristol focused on innovative risk pricing solutions.
- Benefits: Enjoy hybrid working, generous leave, and a discretionary bonus.
- Other info: Collaborative environment with opportunities for professional development and mentoring.
- Why this job: Make a real impact on competitive pricing strategies and drive sustainable growth.
- Qualifications: 3+ years in pricing/risk modelling with strong analytical skills.
The predicted salary is between 65000 - 75000 £ per year.
We’re looking for a Senior Pricing Analyst to join our Risk Pricing team in Bristol. You’ll lead the development of sophisticated pricing and risk models for motor insurance, helping to shape data‑driven, competitive pricing strategies that support strong financial outcomes and sustainable growth.
What you'll be responsible for:
- Build and improve pricing models: Lead the creation and refinement of actuarial models used to price motor insurance products, ensuring they remain robust, accurate and responsive to market conditions.
- Analyse risk and performance: Conduct deep-dive analyses to identify risk factors, trends and patterns; run experience studies and profitability reviews to evaluate model performance and recommend enhancements.
- Partner across the business: Collaborate with underwriting, finance, product and other teams to align pricing strategy with wider business objectives and support product development and planning.
- Support governance and compliance: Maintain awareness of relevant regulation and actuarial standards, helping ensure pricing activity is compliant and well‑controlled.
- Communicate insight: Produce clear reports and presentations for senior stakeholders, explaining complex technical findings in an accessible way.
- Coach and upskill others: Provide technical guidance and mentoring to colleagues, contributing to capability‑building across the team.
- Drive continuous improvement: Identify process improvements and adopt new techniques and tooling to increase efficiency and effectiveness.
What you'll need:
- Strong actuarial/pricing background with experience developing and refining models for pricing and risk assessment.
- Advanced analytical and problem‑solving skills, with a track record of improving approaches beyond traditional risk cost modelling.
- Practical programming/analytics capability (e.g., Python and SQL), including data manipulation and model implementation.
- Excellent written and verbal communication skills, able to influence non‑technical stakeholders.
- Collaborative working style and the confidence to engage with senior stakeholders.
- High attention to detail and a strong focus on controlled, well‑documented analysis.
- Industry experience: 3+ years in a similar pricing/risk modelling role (motor insurance experience preferred).
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.
Senior Risk Pricing Analyst employer: Somerset Bridge
Contact Detail:
Somerset Bridge Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Risk Pricing Analyst
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, or even reach out to current employees at companies you're interested in. Building relationships can open doors that a CV just can't.
✨Show Off Your Skills
When you get the chance to chat with potential employers, don’t hold back! Share specific examples of your past work, especially those related to pricing models and risk analysis. We want to see how you can bring value to the team!
✨Tailor Your Approach
Every company is different, so make sure you tailor your conversations to align with their values and goals. Research their recent projects or challenges in the motor insurance space and come prepared with ideas on how you can help.
✨Follow Up Like a Boss
After any interview or networking event, send a quick thank-you note. It shows your appreciation and keeps you fresh in their minds. Plus, it’s a great opportunity to reiterate your enthusiasm for the role!
We think you need these skills to ace Senior Risk Pricing Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Senior Risk Pricing Analyst role. Highlight your experience with pricing models and risk assessment, and don’t forget to showcase your programming skills in Python and SQL!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re the perfect fit for our team. Mention specific projects or achievements that demonstrate your analytical skills and collaborative spirit.
Showcase Your Communication Skills: Since you'll be communicating complex findings to non-technical stakeholders, make sure your application reflects your ability to simplify technical jargon. Clear and concise writing will go a long way!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates from our team!
How to prepare for a job interview at Somerset Bridge
✨Know Your Numbers
As a Senior Risk Pricing Analyst, you'll need to demonstrate your strong actuarial background. Brush up on your pricing models and be ready to discuss specific examples of how you've developed or refined them in the past. Show that you can not only crunch numbers but also interpret what they mean for the business.
✨Speak Their Language
You’ll be communicating with non-technical stakeholders, so practice explaining complex concepts in simple terms. Prepare a few examples where you successfully communicated technical findings to a diverse audience. This will show your ability to bridge the gap between data and decision-making.
✨Collaboration is Key
Highlight your experience working across different teams. Think of instances where you partnered with underwriting, finance, or product teams to align pricing strategies. Be ready to discuss how you can contribute to a collaborative environment and support product development.
✨Continuous Improvement Mindset
Showcase your proactive approach to identifying process improvements. Prepare to discuss any new techniques or tools you've adopted in your previous roles that increased efficiency. This will demonstrate your commitment to driving continuous improvement within the team.