An amazing opportunity to join a National insurance firm at a very exciting time
Looking for 2 Pricing Analysts to join the team NOW!
About Our Client
Based in Birmingham, we're proud to now be one of the largest personal insurers in the UK. Working with a new energy, we're shifting gear and transforming our company, industry and beyond. And we're just getting started.
The successful Pricing Analyst will;
Review the performance of existing accounts and propose to the relevant distribution channels retail prices at which to sell general insurance products in order to maximise profitability and competitiveness, in accordance with Fairmead's Insurance Risk Policy and reflecting the needs and expectations of customers aligned to the Customer Experience and TCF Policy. Present to the Underwriting Committee as required.
Peer review of other team members' work, ensuring a strong level of quality assurance in analyses and processes carried out.
Recommend areas of improvement in existing methodologies.
Develop and maintain product pricing for prospective new products and new business tenders, working with the distribution channel and business partner/agent as needed.
In conjunction with the Research & Development function, manage periodic risk rate analyses, investigate new techniques and sources of data that will improve risk selection, retention and new business conversion, and hence profitability.
Maintain systems to monitor the performance of accounts in terms of business flow, claims experience at a detailed level, and competitor prices. Pro-actively monitor account performance, bringing significant trends or features to the attention of the distribution channel Pricing Manager
Maintain appropriate documentation supporting the account management/pricing procedures, analyses, decisions, processes and controls.
Ensure the Household and Lifestyle data and IT infrastructure will support pricing and account management. Proactively raise and resolve issues with the Data Warehouse Manager. Develop PC systems as appropriate to facilitate pricing and account management.
In consultation with the Reserving Manager, maintain awareness of claims reserving developments for financial reporting so that consistency is achieved in pricing decisions.
The Successful Applicant
The successful Pricing Analyst will possess a range of the following;
Detailed understanding and current knowledge of personal lines general insurance products and pricing. Working knowledge of the regulatory environment.
Good knowledge of relevant software packages including Microsoft Office & SAS.
Understands the modelling techniques specifically relating to Pricing and Reserving and key performance indicators used in the assessment of account performance.
Identifies trends in key indicators of performance and deviations from expected results.
Interprets results that may indicate the need to review rates and terms.
Demonstrates strong numeric and statistical skills.
Maintains and identifies new internal and external data sources to assist in regular account performance assessment.
Builds and interprets statistical risk models.
Ensures that analysis is consistently accurate, building in appropriate controls and cross-checking results, and reviewing work undertaken by other team members.
Able to explain complex numerical issues in an understandable manner.
Reports results and makes recommendations in a clear and concise manner.
Displays initiative and flexibility in resolving problems raised by both internal and external customers.
We value CII and RSS qualifications and would consider support to the role holder to progress to ACII or CStat status.
What's on Offer
Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you. Our employees have a wide range of benefits including a generous pension scheme, life assurance, circa 25 days' holiday, performance related bonus, discounts at both a huge range of high street stores and our own great products, your hard work will be rewarded when you join us.
If you share our ambition and our passion, join us on our journey. You can help us shape our new future together.