Pricing Analyst - Insurance
£45,000 | Bristol | Permanent
IQ Talent Solutions
Posted +1 month ago
IQ Talent Solutions are delighted to be working with one of our Global Insurance clients for the recruitment of a Pricing Analyst based in Bristol to provide technical pricing support to the Specialty Risk UK business unit. This role is fulltime permanent and paying between £30-£45,000 DOE.
What is expected of the Pricing Analyst;
- Support in the development of pricing models for new business and renewals that considers all costs including risk, expenses, brokerage, commissions, and commercial premiums.
- Analyze data and undertake complex modeling to quantify risk and support business decision making.
- Support in the improvement of pricing capability by adopting market leading technology and methods to improve the effectiveness of optimisation
- Develop analytical projections based on pricing best practice to predict how insurer price changes will impact the business performance in future months
- Produce and maintain pricing structures, modelling analysis as well as retention and conversion modelling to improve business performance.
- Support in periodic scheme performance reviews including renewals, suggesting price adjustments to ensure profitability and penetration.
- Produce pricing recommendations in collaboration with the Commercial and financial departments.
- Prepare and perform actuarial analyses including trend analyses, analyses of loss and expense reserves as it relates to pricing adequacy and strategic direction.
- Provide consultative support and technical expertise on actuarial models and risk issues.
- Develop the design, testing and maintenance of pricing models and Tools.
- Remain current with regulatory/market conditions and apply this knowledge in pricing.
- Establishing most effective risk acceptance criteria and working with the business to implement and control.
- Ensure compliance with Policies, statutory and regulatory requirements and governance controls.
To undertake any other duty or responsibility that may reasonably be allocated by your Manager/ Management Team.
What we look for in a Pricing Analyst;
- Experienced in insurance pricing
- Experienced in the construction of generalized linear models through Emblem.
- Competent in SAS to interrogate insurance data.
- Statistical modelling (Ideal GLM)
- Insurance background
- Emblem/SAS.SQL/Machine Modelling high level understanding
- Previous experience in a similar role within Motor related insurance products preferable.
- Specific knowledge of Non-life product pricing
- Basic Qlik report development preferential.
- Experience in actuarial calculus, quoting and financial projections.
- Strong analytical, numerical and problem solving skills.
- Positive attitude that embraces change.
- Account Management and strategic planning ability.
- Good understanding of insurance legislative and competitive environment.
- Strong interpersonal and communication skills including presentational (verbal and written).
- Excellent attention to detail, planning and organisation skills in order to meet timescales.
- Ability to interact with all levels of seniority, both internal & external.
What you will receive as a Pricing Analyst;
- £30,000-£45,000 Depending on experience
- Full-time permanent contract
- 37.5 hours per week, some flexibility may be required as the needs of the business change and there maybe times where you will be required to work unsociable hours.
InterQuest Group is acting as an employment agency for this vacancy. InterQuest Group is an equal opportunities employer and we welcome applications from all suitably qualified persons regardless of age, disability, gender, religion/belief, race, marriage, civil partnership, pregnancy, maternity, sex or sexual orientation. Please make us aware if you require any reasonable adjustments throughout the recruitment process.