Job Title: Pricing Analyst
Job Market: Insurance Pricing / Analytical
Salary: Advised on application
Pricing Analyst: About the role
Responsible for assisting with the development of pricing models across different products whilst supporting the pricing development and pricing cycle process.
You will be able to introduce and maintain knowledge of advanced modelling and data science methodologies/techniques as required by the individual demands of a project.
Pricing Analyst: Key duties
Utilise advanced Actuarial and Data Science techniques to build new and enhance current pricing or sub-pricing models.
Use analysis of data to monitor & investigate performance of products.
Ensure that the execution of the pricing delivery plan is on time by delivering required activities within agreed timescales and to a high standard.
Work with Pricing Management to ensure that activity is aligned with the Pricing Strategy and wider business objectives.
Support the development of MI & reporting processes within the Pricing team.
Help develop a robust price change control process. Support the Deployment Team to design & implement effective testing of change to increase accuracy in deployment and understand risk.
Support the design, maintenance and enhancement of pricing databases to improve data quality and value of analysis. This includes researching and introducing new sources of data to the company.
Continuous development of capability through on the job learning, meetups, online courses and other external learning activity. Maintain a knowledge of developments in data science and pricing methodologies within and outside of the insurance industry.
Pricing Analyst: Key requirements
Experience in using data manipulation & statistical software packages such as R, Python, SAS, EMBlem, RADAR, Excel/VBA, SQL Server
Ability to create suitable visualisations of complex and large data sets utilising packages such as Power BI.
Ability to analyse data for the purposes of effective proposition Pricing.
Experience in handling complex datasets and utilising them in structured analysis.
Being commercially aware and using this acumen in a way which helps enhance the businesses profitability.
Contribute to management of the financial performance of a diverse range of product propositions in a complex and competitive market.
Knowledge of the legal, regulatory and compliance provisions that apply to Lloyd's and the UK motor insurance market.
Highly articulate and numerate, paying attention to detail and accuracy.