We are actively seeking a highly skilled Senior Pricing Analyst who possesses an extensive background in machine learning and data science, including the experience of retrieving, cleansing and processing data programmatically along with a deep comprehension of actuarial principles and practices. This pivotal role demands a professional who can expertly navigate the complex interplay between advanced analytics and traditional actuarial approaches. Candidates must have experience in motor and insurance claims analysis.
Moreover, the Pricing Analyst will play a vital role in shaping the company's strategic direction. By providing data-driven insights and recommendations, you will influence key business decisions, contributing to the development and refinement of our insurance products. This will require a blend of technical expertise, strategic thinking, and a keen understanding of the insurance marketplace.
Furthermore, collaboration will be a significant aspect of this role. You will work closely with diverse teams, including product development, underwriting, risk management, operations and technology, ensuring a cohesive approach to product pricing and development.
Responsibilities:
- Develop and implement pricing models using machine learning algorithms and statistical analysis to evaluate risk and formulate pricing strategies for motor and P&C insurance products.
- Partner with the insurance team to integrate conventional actuarial methods and insights into pricing models.
- Perform extensive data analysis, involving the collection, cleaning, and processing of large datasets to pinpoint trends, anomalies, and optimisation opportunities.
- Collaborate closely with product development teams to comprehend product features and devise pricing structures that meet customer needs and business goals.
- Keep up-to-date with industry trends and developments in data science and machine learning, applying these insights to improve pricing precision and market competitiveness.
- Work in conjunction with underwriting and risk management teams to ensure pricing strategies are in line with overall risk preferences and regulatory requirements.
- Offer data-driven insights and recommendations to senior management for strategic decision-making.
- Assist in the development and launch of new products by providing expert analysis and pricing advice.
- Adhere to relevant regulations and maintain a thorough knowledge of the regulatory landscape impacting motor and P&C insurance products.
Requirements
- Bachelor's or Master's degree in Data Science, Statistics, Actuarial Science, Mathematics, or a related field.
- Demonstrated experience in a pricing analyst role, preferably within the insurance sector.
- High proficiency in machine learning techniques and tools (e.g., Python, R, SQL) including fluent use of at least one open-source programming language.
- Familiarity with actuarial principles, methods, and practices, particularly in relation to motor and P&C insurance.
- Exceptional analytical and problem-solving abilities, with meticulous attention to detail.
- Strong communication and presentation capabilities, able to communicate complex analytical ideas to a non-technical audience.
- Capacity to work both independently and as part of a team in a fast-paced, dynamic setting.
- A proactive stance towards learning and keeping abreast of the latest industry advancements.
