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Date Added: Tue 14/05/2024

Pricing Manager

Manchester, UK
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Company: VERMELO RPO

Job Type: Permanent, FullTime

Salary: Salary negotiable

Job title: Pricing Manager

Locations: Haywards Heath / Manchester (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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