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- Tasks: Develop pricing models using machine learning and analyse data to optimise insurance products.
- Company: Join a leading insurance firm shaping the future of pricing strategies.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Why this job: Make a real impact on strategic decisions and product development in the insurance industry.
- Qualifications: Experience in pricing analysis, machine learning, and strong analytical skills required.
- Other info: Collaborative environment with a focus on innovation and continuous learning.
The predicted salary is between 36000 - 60000 £ per year.
We are actively seeking a highly skilled Senior Pricing Analyst who possesses an extensive background in machine learning and data science, including the experience of retrieving, cleansing and processing data programmatically along with a deep comprehension of actuarial principles and practices. This pivotal role demands a professional who can expertly navigate the complex interplay between advanced analytics and traditional actuarial approaches. Candidates must have experience in motor and insurance claims analysis. Moreover, the Pricing Analyst will play a vital role in shaping the company's strategic direction. By providing data-driven insights and recommendations, you will influence key business decisions, contributing to the development and refinement of our insurance products. This will require a blend of technical expertise, strategic thinking, and a keen understanding of the insurance marketplace. Furthermore, collaboration will be a significant aspect of this role. You will work closely with diverse teams, including product development, underwriting, risk management, operations and technology, ensuring a cohesive approach to product pricing and development.
Responsibilities
- Develop and implement pricing models using machine learning algorithms and statistical analysis to evaluate risk and formulate pricing strategies for motor and P&C insurance products.
- Partner with the insurance team to integrate conventional actuarial methods and insights into pricing models.
- Perform extensive data analysis, involving the collection, cleaning, and processing of large datasets to pinpoint trends, anomalies, and optimisation opportunities.
- Collaborate closely with product development teams to comprehend product features and devise pricing structures that meet customer needs and business goals.
- Keep up-to-date with industry trends and developments in data science and machine learning, applying these insights to improve pricing precision and market competitiveness.
- Work in conjunction with underwriting and risk management teams to ensure pricing strategies are in line with overall risk preferences and regulatory requirements.
- Offer data-driven insights and recommendations to senior management for strategic decision-making.
- Assist in the development and launch of new products by providing expert analysis and pricing advice.
- Adhere to relevant regulations and maintain a thorough knowledge of the regulatory landscape impacting motor and P&C insurance products.
Requirements
- Bachelor's or Master's degree in Data Science, Statistics, Actuarial Science, Mathematics, or a related field.
- Demonstrated experience in a pricing analyst role, preferably within the insurance sector.
- High proficiency in machine learning techniques and tools (e.g., Python, R, SQL) including fluent use of at least one open-source programming language.
- Familiarity with actuarial principles, methods, and practices, particularly in relation to motor and P&C insurance.
- Exceptional analytical and problem-solving abilities, with meticulous attention to detail.
- Strong communication and presentation capabilities, able to communicate complex analytical ideas to a non-technical audience.
- Capacity to work both independently and as part of a team in a fast-paced, dynamic setting.
- A proactive stance towards learning and keeping abreast of the latest industry advancements.
Senior Pricing Analyst employer: Wrisk
Contact Detail:
Wrisk Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Pricing Analyst
✨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 refer you directly.
✨Tip Number 2
Prepare for interviews by brushing up on your technical skills and understanding of actuarial principles. Be ready to discuss how you've used machine learning in past roles and how it can apply to pricing strategies.
✨Tip Number 3
Showcase your analytical prowess! Bring examples of your data analysis work to interviews. Discuss trends you've identified and how your insights influenced business decisions in previous roles.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who are proactive about their job search!
We think you need these skills to ace Senior Pricing Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Senior Pricing Analyst role. Highlight your experience with machine learning, data analysis, and actuarial principles. We want to see how your skills align with what we're looking for!
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 role. Share specific examples of your past work in pricing analysis and how you've influenced business decisions.
Showcase Your Technical Skills: Don’t forget to mention your proficiency in tools like Python, R, and SQL. We’re keen on seeing how you’ve applied these skills in real-world scenarios, especially in the insurance sector.
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 Wrisk
✨Know Your Numbers
Brush up on your data analysis skills and be ready to discuss specific examples of how you've used machine learning and statistical analysis in previous roles. Prepare to explain your thought process when developing pricing models, as this will showcase your technical expertise.
✨Understand the Actuarial Landscape
Familiarise yourself with actuarial principles and practices, especially those relevant to motor and P&C insurance. Be prepared to discuss how you can integrate traditional methods with advanced analytics to create effective pricing strategies.
✨Collaboration is Key
Since this role involves working closely with various teams, think of examples where you've successfully collaborated with product development, underwriting, or risk management. Highlight your communication skills and how you can bridge the gap between technical and non-technical stakeholders.
✨Stay Ahead of Industry Trends
Keep yourself updated on the latest developments in data science and machine learning. Be ready to share insights on how these trends can impact pricing strategies and improve market competitiveness, showing that you're proactive and forward-thinking.
