Senior Pricing Analyst

Job Title: Senior Pricing Analyst

Locations: Haywards Heath or Manchester (Hybrid, 1-2 days in the office)

Role Overview

Markerstudy Group are looking for a Senior 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 Senior Pricing Analyst, you will use your advanced analytical skills to:

• Be a key stakeholder influencing the direction & outcome of projects across a range of personal lines products


• Create innovative data solutions finding new ways to mine insight & present data


• Build and maintain sophisticated models, prioritising a range of data science techniques


• Develop reporting structures to monitor pricing performance in an automated fashion

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:

• Develop a suite 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


• Research and leverage new and existing data sources; capturing and explaining trends with innovative data features


• 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


• Coaching and mentoring junior team members

Key Skills and Experience:

• Previous experience within general insurance pricing


• Experience with some of the following predictive modelling techniques; Logistic Regression, GBMs, Elastic Net GLMs, GAMs, Decision Trees, Random Forests, Neural Nets and Clustering


• 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


• Proficient at communicating results in a concise manner both verbally and written

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