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, a percentage of commercial vehicles and over a percentage 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. Markerstudy also has a large and growing direct presence in the market as well.
Having acquired and successfully integrated Co-op Insurance Services and BGLi, Markerstudy is 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.
* Advancing the adoption of data science & statistical techniques.
* Developing reporting structures to monitor pricing performance in an automated fashion.
* Developing 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.
* Improving sophistication within the optimisation of Markerstudy’s direct brands.
* Supporting the delivery of pricing & underwriting business plans across Motor & Home portfolios.
* Supporting the development of new product offerings.
* Advancing the adoption of the latest data science & statistical techniques across pricing & underwriting.
* Researching and leveraging new and existing data sources; capturing and explaining trends with innovative data features.
* Clearly communicating results and proposed actions to key decision-makers across the business.
* Championing and facilitating automation of reporting, data pipelines, and quality assurance.
* Managing, coaching, and mentoring team members, driving a culture of development and excellence across the team.
* Collaborating 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).
* Experience with WTW’s Radar software is preferred.
* Proficient at communicating results in a concise manner both verbally and in writing.
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.
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