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- Tasks: Lead the pricing strategy and optimise market rates for individual and SME segments.
- Company: Dynamic insurance firm investing in innovative pricing capabilities.
- Benefits: Hybrid work model, competitive salary, and opportunities for professional growth.
- Why this job: Make a significant impact on pricing strategies and lead a talented team.
- Qualifications: Expertise in insurance pricing, data modelling, and team leadership required.
- Other info: Join a transformative journey with excellent career advancement potential.
The predicted salary is between 48000 - 72000 £ per year.
LOCATION: South London / hybrid 2-3 days
One of our prominent clients are making a significant investment in their pricing capability with a comprehensive pricing transformation programme. This includes the implementation of new pricing software, market-leading modelling, and performance monitoring approaches. Their pricing structure is more aligned to focus on the key disciplines of technical pricing, market pricing and pricing governance. As a result, several vacancies have arisen, with a need for strong data science, actuarial and governance skills.
They’re looking for an experienced Pricing leader to own and deliver the market pricing strategy for the company. You’ll fine tune optimisation of Individual and SME rates in the market to strike the required balance between volume and value. You’ll own the profit and loss (P&L) result via insight-led portfolio level rating decisions, and case-by-case pricing and underwriting decision making. This is a strategic leadership position overseeing a team of five direct reports and holding overall responsibility for a department comprising 25 employees, reflecting its significant scope and impact within the organisation.
What you’ll be doing:
- Owning the Individual and SME P&L performance in terms of volumes and underwriting profit, in conjunction with Distribution leaders.
- Shaping and delivering the strategy for retail pricing models including customer behaviour and market premium models, ensuring sophistication is in line with or better than best practice in the market.
- Delivering price optimisation strategy, gaining buy-in from all key stakeholders.
- Owning strategic plan and forecasting assumptions and ensure performance is monitored at this granular level.
- Ensuring new business initiatives are value adding and ensure insights are available to track performance.
- Ownership of renewal pricing strategy, ensuring appropriate value-based retention incentives are in place with performance monitored against targets set.
- Leading portfolio management strategies, ensuring regular insights are produced to track business performance, identifying actions to take.
- Monitoring risk underwriting decisions at case-by-case level to ensure they are appropriate.
What you’ll bring:
- Expert knowledge of insurance retail pricing data and modelling techniques, including generalised linear model (GLMs) and machine learning such as gradient boosting machine (GBMs), within the insurance sector.
- Expertise in price optimisation and other actuarial techniques including reserving.
- Previous experience leading and motivating a Market Pricing Team to achieve targets.
- Comprehensive understanding of the regulatory environment.
- Demonstrable resilience and experience of successfully managing multiple priorities.
- Strategic thinker, and able to translate strategy into a delivery plan.
Head of Pricing in England employer: The Emerald Group Ltd, Search and Selection
Contact Detail:
The Emerald Group Ltd, Search and Selection Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Pricing in England
✨Tip Number 1
Network like a pro! Reach out to industry contacts on LinkedIn or attend local meetups. We all know that sometimes it’s not just what you know, but who you know that can help you land that Head of Pricing role.
✨Tip Number 2
Prepare for interviews by practising common questions related to pricing strategies and data analysis. We recommend doing mock interviews with friends or using online platforms to get comfortable discussing your expertise in GLMs and GBMs.
✨Tip Number 3
Showcase your leadership skills! When you get the chance to chat with potential employers, highlight your experience in leading teams and driving performance. We want to see how you can motivate others to achieve those P&L targets.
✨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 Head of Pricing in England
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Head of Pricing role. Highlight your experience in pricing strategies, data science, and leadership. We want to see how your skills align with the job description!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this strategic leadership position. Share specific examples of your past successes in pricing and team management.
Showcase Your Technical Skills: Don’t forget to mention your expertise in GLMs, GBMs, and other actuarial techniques. We’re looking for someone who can hit the ground running, so make sure we see your technical prowess!
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 during the process!
How to prepare for a job interview at The Emerald Group Ltd, Search and Selection
✨Know Your Numbers
As a Head of Pricing, you'll need to demonstrate your expertise in pricing data and modelling techniques. Brush up on GLMs and GBMs, and be ready to discuss how you've used these in past roles. Show them you can talk the talk when it comes to data-driven decision making!
✨Showcase Your Leadership Skills
This role involves leading a team, so be prepared to share examples of how you've motivated and guided teams in the past. Think about specific challenges you've faced and how you overcame them. Highlight your ability to translate strategy into actionable plans that deliver results.
✨Understand the Market
Familiarise yourself with the current trends in insurance pricing and the competitive landscape. Be ready to discuss how you would shape and deliver a pricing strategy that aligns with market demands. Showing that you have your finger on the pulse will impress the interviewers.
✨Prepare for Scenario Questions
Expect to face scenario-based questions that assess your problem-solving skills and strategic thinking. Prepare examples where you've had to make tough pricing decisions or optimise rates under pressure. This will showcase your ability to handle the complexities of the role effectively.