At a Glance
- Tasks: Lead pricing strategies and develop predictive models for commercial insurance products.
- Company: Join Markerstudy, a forward-thinking company redefining value in insurance.
- Benefits: Enjoy flexible hybrid working, private healthcare, and a yearly bonus scheme.
- Other info: Collaborative culture with opportunities for continuous learning and career growth.
- Why this job: Make a real impact on pricing strategies while innovating in a fast-paced environment.
- Qualifications: Experience in insurance pricing and proficiency in programming languages like R and Python.
The predicted salary is between 63000 - 77000 £ per year.
Location: Flexible hybrid working
About the role
Are you ready to use your technical expertise to shape pricing strategies? At Markerstudy, we are on a mission to redefine how we deliver value to our customers and the business. This is your opportunity to join our Pricing team and play a key role in managing and optimising data solutions that underpin our pricing capability.
In exceptional circumstances we support remote working with occasional travel to our offices.
Why this role matters
As Principal Pricing Analyst (Commercial Insurance) you will be responsible for the retail pricing of our small commercial insurance products offered by Markerstudy Business. To support our small business customers we provide Taxi, Commercial Van, Commercial Liability, and Property covers. These are sold via our call centre, website and aggregator sites. We have big growth ambitions and have plans to launch new products and expand our offerings via the aggregator sites.
This role sits within Markerstudy Retail, so will benefit from the support and expertise of the Personal Lines retail pricing team. You will provide technical leadership on modelling and optimisation, champion best practices, and coach team members to introduce and embed sophisticated personal lines methodologies across our commercial products. Ultimately, you will play a pivotal role in driving the evolution of our pricing capability and ensuring we stay ahead in a fast moving market.
What you will do
- Lead the development and maintenance of predictive models (GLMs) and price optimisation techniques, including machine learning algorithms (GBM), Lifetime Value models (LTV), and fair pricing principles.
- Provide technical leadership on WTW Radar and Emblem, driving effective and efficient solutions.
- Research, develop, and champion best-practice methods; upskill the team through coaching and code reviews.
- Query and engineer large datasets (e.g., Python/R/SQL/PySpark) on modern platforms (e.g., Azure Databricks).
- Communicate pricing proposals and insights clearly and persuasively to stakeholders at all levels.
- Collaborate with Modelling, Optimisation, and Street Pricing teams to ensure solutions meet business objectives and are production ready.
- Coach and mentor team members, fostering a culture of innovation and continuous improvement.
What we are looking for
- Previous experience in general insurance pricing.
- Excellent communication skills to convey complex technical concepts to technical and non-technical audiences.
- A passion for innovation, continuous improvement and challenging the norm.
- Strong problem solving capabilities with the ability to apply market standard pricing techniques to non-standard products.
- Proficiency in programming languages such as R, Python, PySpark, SAS, or SQL.
- Good knowledge of Azure Databricks and modern data technologies.
- Technical expertise in predictive modelling techniques e.g. GLMs.
- Experience with WTW Radar software and optimisation tools.
- A quantitative degree in Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science, or similar proven experience.
What we offer
- A collaborative, fast-paced environment where innovation thrives.
- Private medical healthcare, life assurance (4x salary), and yearly bonus scheme.
- 25 days annual leave plus
Principal Pricing Analyst (commercial) in Warrington employer: Vermelo
Tradex Insurance is an exceptional employer that fosters a collaborative and innovative work culture, where employees are empowered to make impactful decisions. With a strong focus on professional development, employees have access to continuous learning opportunities and the chance to work closely with senior leaders in a dynamic environment. The role of 2nd Line Risk Partner offers the unique advantage of influencing key risk frameworks while travelling to vibrant locations like Manchester and Brentwood, ensuring a diverse and engaging work experience.
StudySmarter Expert Advice🤫
We think this is how you could land Principal Pricing Analyst (commercial) in Warrington
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Vermelo). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Vermelo. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Principal Pricing Analyst (commercial) in Warrington
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Vermelo.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Vermelo. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Vermelo
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Vermelo to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Vermelo, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Vermelo's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
