Technical Pricing Analyst

£30K-£40K

Once a month in the office

Technical Pricing Analyst

As a Technical Pricing Analyst, you will be responsible for analysing, developing and implementing pricing strategies tailored to Direct and Aggregator channels (e.g. Money Supermarket). You will work closely with the Pricing, Underwriting and Commercial teams to ensure our products are competitively priced while maintaining profitability and aligning with business objectives. This is an exciting opportunity to contribute to the growth of our business and drive innovation in our pricing practices.

Key Responsibilities

• Collaborate with Product, Underwriting, Finance and Marketing to design and price new travel insurance products tailored to different customer segments
• Develop and validate technical pricing models for new & existing products, ensuring they meet both customer needs and profitability targets
• Update Actual Vs. Expected analysis, identifying trends
• Implement new pricing structures in the rating engine for both Direct and Aggregator platforms and ensure they are accurately reflected
• Analyse data from Aggregator & Direct platforms to understand pricing dynamics, market trends, and customer behaviour
• Analyse net loss ratio and implement changes to achieve target position.
• Perform detailed analysis of sales data and customer demographics to identify trends and opportunities for improvement
• Use statistical and machine learning techniques to refine pricing models and ensure alignment with market conditions
• Prepare regular reports and presentations for senior management, highlighting performance trends and recommending pricing adjustments to achieve goals
• Work closely with the Commercial team to align pricing strategies with sales targets and any partner requirements
• Liaise with the Product and Underwriting teams to ensure that pricing changes are consistent with product coverage and regulatory requirements
• Support the retail team with pricing changes and model improvements
• Stay up-to-date with industry trends, competitor activities, and developments in travel insurance pricing
• Identify opportunities for process improvements and automation in the pricing workflow, leveraging tools like Earnix and/or Akur8
• Participate in cross-functional projects aimed at enhancing pricing capabilities and increasing market share

Skills Required

• Degree in Mathematics, Statistics, Economics, Actuarial Science, or a related quantitative field
• 1+ years of experience in a pricing or data analysis role is desirable
• Experience in building technical risk models is desirable
• Proficient in data analysis tools such as SAS, SQL, Python, R etc…
• Experience in pricing software (e.g. Earnix, Akur8, Emblem, Radar etc…) and rating engines is a strong advantage
• Understanding of statistical modelling techniques
• Strong analytical mindset with the ability to interpret complex data and make data-driven decisions
• Excellent attention to detail and the ability to identify trends and anomalies in large datasets
• Strong written and verbal communication skills, with the ability to present complex information clearly to both technical and non-technical stakeholders
• Proven ability to work collaboratively in cross-functional teams and build and sustain strong working relationships with a variety of stakeholders

Benefits

• Extensive Training
• Flexible work ( Work from home, Mon – Fri 9am to 5.30pm)
• Bonus Scheme
• Health Cash Plan
• Cycle to work Scheme
• Techscheme
• 33 days holidays including bank holidays
• Convenient Location

No Sponsorship can be provided

Applicants must be located and eligible to work in the UK without sponsorship. Please note, should feedback not be received within 28 days, unfortunately your application has been unsuccessful. In applying for this role, you may be registered on our database so we can contact you about suitable opportunities in future. Your data will be managed in accordance with our Privacy Policy, which can be found on our website. If you would like this job advertisement in an alternative format, please contact MERJE directly.