Job Overview We are a market-leading travel insurance provider, known for our customer-centric approach, comprehensive coverage, and innovative use of data-driven pricing strategies. We are seeking a skilled Renewal Pricing Analyst to join our team, focusing on optimizing pricing strategies for our renewal portfolio. This role is critical in ensuring customer retention while maintaining profitability, balancing customer value with risk management. As a Renewal Pricing Analyst, you will be responsible for analysing customer behaviour, monitoring renewal trends, and developing data-driven pricing strategies that optimize retention rates and profitability. You will collaborate closely with the Pricing, Underwriting, and Customer Retention teams to design and implement renewal pricing models, applying advanced analytics and machine learning techniques to ensure we meet both our business objectives and customer expectations. Main Duties Design and implement tailored pricing strategies for the renewal book of business, aimed at maximizing retention while achieving profitability target Analyse customer data and feedback to understand price sensitivity, loyalty drivers, and churn risks, incorporating these insights into the renewal pricing models Monitor competitor activity and market trends to ensure our renewal pricing remains competitive and aligned with industry practices Collaborate with the Customer Retention team to develop targeted renewal offers, including loyalty discounts and promotional pricing Use predictive analytics to identify high-risk customers likely to churn and propose pricing interventions to improve retention Conduct A/B testing of different pricing strategies to evaluate their impact on renewal rates and customer satisfaction Utilize statistical and machine learning methods to build and refine renewal pricing models, leveraging tools like Earnix, Akur8, Python, or R Perform in-depth analysis of renewal performance metrics, including loss ratios, retention rates, GWP and income, to identify areas for improvement Work with the pricing team to incorporate new data sources and refine demand models, ensuring accurate predictions of customer behaviour Track KPIs related to the renewal portfolio, such as retention rates, conversion rates, and overall profitability Prepare detailed reports and presentations for senior management, highlighting trends, insights, and recommended pricing adjustments Develop and maintain dashboards in tools like Tableau to provide ongoing visibility into renewal pricing performance Partner with the wider team to ensure that renewal pricing strategies align with overall risk appetite and product coverage requirements Liaise with the Commercial and Marketing teams to communicate renewal pricing strategies and support customer retention campaigns Engage with the Product team to assess the impact of pricing changes on the customer experience and product competitiveness Stay informed about the latest industry trends, competitor pricing strategies, and advancements in predictive analytics for insurance Identify opportunities to enhance the renewal pricing process through automation, AI, and advanced analytics, aiming to streamline workflows and increase efficiency Participate in cross-functional projects to develop and test new pricing methodologies and retention strategies This list of duties is neither exclusive nor exhaustive and may be amended by Senior Management from time to time, nor is it in any order of importance. Knowledge & Skills Required Degree in Mathematics, Statistics, Economics, Actuarial Science, or a related quantitative field 2 years of experience in a pricing or data analysis role, preferably within the insurance industry Experience with renewal pricing and retention strategies is highly desirable Familiarity with travel insurance products or similar lines of business is an advantage Proficient in data analysis tools such as Excel, SAS, Python, or R Proficient in pricing software (e.g. Earnix, Akur8) and rating engines is a strong advantage Knowledge of predictive analytics, machine learning methods, and demand modelling Strong analytical mindset with the ability to interpret complex data and derive actionable insights 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 Hours 37.5 hours per week, Monday to Friday inclusive. However, a flexible approach between the core working hours of 8:00am – 8:00pm is essential. Infrequent weekend and evening working will be required, as requested by Senior Management, for which time off in lieu will be given. Why Join Us? Be part of a forward-thinking, data-driven team that’s focused on transforming the travel insurance renewal experience. Opportunity to work with cutting-edge analytics tools and techniques in a collaborative, innovative environment. Flexible working arrangements and a supportive company culture.