Description:
We have an exciting new opportunity for a Pricing Analyst to join our team here in London. The team is embedded within the business and works closely on a day-to-day basis with expert underwriters, claims handlers, finance, actuarial, sales, operations, and management. This close interaction is key to delivering detailed solutions quickly, to the people that need them. This opportunity will require individual risk pricing, development and maintenance of pricing models, portfolio modelling, profitability analysis and the production of management information across the business. You will work to analyse our ever-developing data, telling the story and delivering insights from our emerging experience to key stakeholders such as the reserving team, finance, and management.
What you’ll be doing:
Pricing
- Assist in the pricing of specific risks according to Markel underwriting guidelines, and support underwriting strategy across NM.
- Review rates and assumptions on selected product lines as requested by underwriters and management.
- Maintain and develop new and existing rating engines, including exploring new rating factors and producing technical documentation on the rating tools.
- Researching and proposing new pricing techniques and methodologies, continuously seeking to improve the quality of the Technical Pricing output.
- Work with claims handlers to understand our claims experience and how this impacts our premium rating.
- Work with underwriters on new product development, actively build relationships with underwriters and seek areas where the data led analysis can add value.
- Assist in compliance with all other regulatory and audit requirements, including internal underwriting guidelines, audit actions, as well as with external bodies such as the Faculty & Institute of Actuaries, CAS, external auditors.
Data & Analytics
- Assessing and improving the data quality produced by the local offices for use by central functions.
- Researching & implementing solutions to improve the data & analytics capabilities across NM.
- Working with data scientists and data engineers to develop data pipelines and automated workflows.
- Staying up to date with the latest techniques applicable to our business.
Profitability | Portfolio Analysis
- Work closely with the portfolio management team, providing insights and data to assist in the production of key metrics to enable data driven decision making.
- Provide analysis for management to assist them in formulating their strategy on specific lines of business.
- Produce regular reports on key pricing metrics, e.g. technical ratio and rate change. Liaising with underwriters and reporting on any trends or observations
Our must-haves:
- Have at least two years of work experience – experience of commercial lines pricing is an advantage.
- Have knowledge of SQL and Python. Experience in creating and running code and analysis in Notebooks is an advantage.
- Experience of using the Azure and Databricks platform is an advantage.
- Have knowledge of standard software tools, such as Microsoft Office (Excel, Word, PowerPoint).
- Will display excellent analytical and decision making skills, and the ability to communicate technical concepts to both technical and non-technical audience.
- Actively keep knowledge and skills up-to-date through courses and seminars (study support will be available).