Pricing Analyst

The Role:

Pricing Analyst required to join our dynamic team in Worthing. As a Pricing Analyst, you will play a pivotal role in developing and implementing pricing strategies to ensure profitability and competitiveness in the insurance market.

Key Responsibilities:

• Operate on both supply side (underwriting) and demand side (sales) pricing
• Developing, maintaining, and enhancing pricing models for their insurance products, ensuring they are both competitive and profitable.
• Analysing historical claims and other relevant data to identify trends and patterns, and applying this knowledge to optimize pricing strategies.
• Refine and develop metrics for tracking performance across the company’s portfolio
• Collaborating with external underwriters, product development, and other cross-functional teams to design new and innovative insurance products.
• Monitoring the performance of existing products and recommending adjustments to pricing and coverage as needed.
• Staying current with industry trends, regulatory changes, and emerging methodologies to ensure best practices are consistently applied.
• Preparing clear and concise reports for management and other stakeholders, outlining pricing recommendations and their potential impact on the business.
• Supporting the development and implementation of advanced pricing tools and methodologies.
• Mentoring and providing guidance to other team members.

Key Requirements:

• Qualified or nearly qualified actuary with relevant experience in the insurance industry.
• Strong analytical and problem-solving skills, with proficiency in statistical modeling and data analysis tools (eg, SAS, R, Python).
• Solid understanding of insurance principles and pricing techniques.
• Excellent communication and interpersonal skills, with the ability to effectively collaborate with cross-functional teams.
• Proven ability to manage multiple projects and priorities in a fast-paced environment.
• Knowledge of regulatory requirements and industry standards related to insurance pricing.