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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
