Job title: Pricing Manager
Locations: Haywards Heath / Manchester - flexible (on a hybrid working model)
Role Overview
Markerstudy Group is looking for a Pricing Manager to join a quickly growing and developing pricing department covering 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 Manager, you will be responsible for the pricing of multiple motor and home products, including the following core activities:
Maintaining and improving behavioural models, prioritising a range of data science techniques.
Advance the adoption of data science & statistical techniques.
Develop reporting structures to monitor pricing performance in an automated fashion.
Develop innovative solutions to improve rating accuracy/efficiency.
Working closely with the wider pricing department and underwriting 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:
Maintain and improve the pricing process to meet business requirements, including;
Development of market leading behavioural modelling using a combination of traditional & data science techniques
Improve sophistication within the optimisation of Markerstudy’s direct brands
Support delivery of pricing & underwriting business plan across Motor & Home portfolios
Support development of new product offerings
Advance the adoption of the latest data science & statistical techniques across pricing & underwriting
Research and leverage new and existing data sources; capturing and explaining trends with innovative data features
Clearly communicate results and proposed actions to key decision makers across the business
Champion and facilitate automation of reporting, data pipelines and quality assurance
Manage, coach and mentor team members, driving a culture of development and excellence across the team
Collaborate with peers in pricing, underwriting and data science
Key Skills and Experience:
Experience managing general insurance products and/or pricing teams, including knowledge of current trends and issues in motor or home 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. Knowledge of the technical differences between different packages for some of these model types would be an advantage.
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:
Good communication and people management skills
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
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