Pricing Analyst

Job Type:

Permanent

Build a brilliant future with Hiscox
 

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The team and role

The UK Pricing team are a fundamental part of the Hiscox UK business driving analytics and business insight that drives the direction of portfolio underwriting decisions. The pricing team sit alongside the wider Insurance Analytics function which includes Data Engineering, Corporate Reporting, Exposure Management and Third-Party Data. In this role you will work closely on a day-to-day basis with these other teams to drive forward a collective strategy for the use of data and analytics within the UK business. The pricing team itself are split into “Technical” and “Product Facing” analysts, with technical pricing analysts having more of a focus on building and maintaining underlying technical models which influence underwriting strategies and provide insight for the product facing team.

This role sits within the product facing area of the team, you’ll be someone who loves stakeholder management and knowing the who’s who as you’ll be networking and talking to the wider business, including Product Heads, Heads of Underwriting, and our Chief Underwriting Officer. You’ll be comfortable presenting on technical subjects and making real decisions to shape the wider underwriting portfolio aligned with business objectives.

As a Pricing Analyst, you’ll support pricing analysis and influence the growing book of non-standard high net worth household, motor, SME commercial as well as specialty lines. The Pricing Analyst plays a critical contributing role supporting influencing the pricing and profitable growth for Hiscox UK.

Please note this role does not require you to pursue, or have previously pursued, actuarial qualifications.

What you’ll be doing

• Supporting the end-to-end design of pricing changes that support delivering budgeted volume and profitability targets over the underwriting cycle. This includes working with senior analysts on the design of new changes and modelling their financial and customer impacts, and making recommendations to Heads of Underwriting, writing of governance committee papers and ensuring changes follow the full governance and change cycle to implementation.

• Building rapport and strong relationships with underwriting managers and heads of underwriting. Asking questions to understand their priorities and to scope individual projects. Presenting recommendations and findings to senior stakeholders with the support of senior pricing analysts or pricing manager.

• Production of regular portfolio management reporting for CUO and Heads of Underwriting to monitor performance of the UK portfolio.

• Producing analysis on a monthly basis to further understand changing trends and analyse quote conversion, policy retention, customer behaviour, claims experience with the aim of driving real change into the business aligned with the UK strategy.

• Maintenance and implementation of production prices for all UK products. Including delivery of simple pricing changes from end to end, testing of prices before and after implementation and working with change colleagues and business analysts to deliver more complex pricing changes.

• Working closely with technical pricing models (risk and demand), for use within pricing recommendations and analysis

• Work with and support the design and implementation of new technologies – including cloud-based data warehouses, data-visualisation products, and new pricing software for the business

• Taking accountability for the quality of your own work and pricing recommendations.

Our must haves:

We are looking for an individual who is highly analytical, driven and detail orientated with a passion for excellent execution. You will need to be articulate and exhibit a track record of good decision making skills, working under pressure and to tight deadlines, with an ability to quickly understand problems and create and implement solutions.

• Of graduate calibre

• Practical application of in-depth statistical skills

• Good general knowledge of data analysis tools such as Excel and SQL

• High level of numeric competence and excellent data gathering and manipulation skills

• Strong analytical pragmatic reasoning skills and an aptitude for innovative problem solving

• Excellent communication skills with ability to articulate the complex to technical and non-technical audiences

• Deadline oriented, hardworking, curious, passionate, enthusiastic and a self-starter

Our nice to haves:

• Knowledge of programming and statistical tools such as Python, Emblem & SAS

• Seeking or attained relevant professional qualifications

Diversity and flexible working at Hiscox

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success. We also understand that working life doesn’t always have to be ‘nine to five’ and we support flexible working wherever we can. No promises, but please chat to our resourcing team about the flexibility we could offer for this role.

We’ve introduced new hybrid ways of working to encourage a healthy work life balance. We anticipate the successful candidate for this role will be in the office up to 2-3 days per week. Our London office will be your hub where team & collaboration time will take place.

We see it as the best of both worlds: structure and sociability on one hand, and independence and flexibility on the other.

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Work with amazing people and be part of a unique culture