Pricing Analyst

Job Title: Pricing Analyst

Locations: Haywards Heath or Manchester (Hybrid working)

Role overview:

Markerstudy Group are looking for a Pricing Analyst to join a quickly growing and developing pricing department across a range of insurance lines.

Markerstudy is a leading provider of private insurance in the UK, insuring around 5% of the private cars on the UK roads, 20% of commercial vehicles and over 30% of motorcycles in total premium levels of circa £1.2b.  The majority of business is written as the insurance pricing provider behind household names such as Co-op, Sainsbury’s, O2, Halifax, AA, Saga and Lloyds Bank to list a few and Markerstudy also has a large and growing direct presence in the market as well.

Having acquired and successfully integrated Co-op Insurance Services in 2021 & BGLi in 2022, Markerstudy are now pursuing innovative pricing techniques, taking advantage of an award winning insurer hosted rating platform, whilst challenging existing embedded processes.

As a Pricing Analyst, you will use your analytical skills to:

• Support pricing teams in building and maintain sophisticated models via a range of data science techniques
• Monitor pricing performance via automated reporting structures
• Enable growth within Motor & Home portfolios

Working with the technical pricing team and closely with underwriting, retail pricing & data science teams, your insight and recommendations will enable improvements to products and prices giving Markerstudy a critical advantage in the increasingly competitive insurance market

Key Responsibilities:

• Support development of advanced pricing models using a combination of traditional & data science techniques across Private Car, Commercial Vehicle & Home accounts
• Advance the adoption of data science & statistical techniques across pricing & underwriting
• Communicate results to key decision makers across the business for action based on the results of pricing analysis
• Review observed & expected performance of key accounts
• Collaborate with peers in pricing, underwriting and data science
• Facilitate automation of repeatable tasks
• Using specialist software to monitor trends and review impact of pricing proposals

Key Skills and Experience:

• Previous experience in statistical and data science programming languages (e.g. R, Python, PySpark, SAS, SQL)
• A good quantitative degree (Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science)
• Experience of WTW’s Radar software is preferred, but not essential
• Proficient at communicating results in a concise manner both verbally and written
• Ability to analyse, understand and interpret data from varying sources

Behaviours:

• Self-motivated with a drive to learn and develop
• Logical thinker with a professional and positive attitude
• Passion to innovate, improve processes and challenge the norm
• Personality and a sense of humour