Job Description

JUNIOR PRODUCT ANALYST

About Us:

UIB is a leading insurance brokerage, trusted by customers across the UK. Working in partnership with some of the largest Trade Unions, we have set up policies for over 2.5 million members.





Our policies are designed to provide simple, easy-to-understand protection that ensures peace of mind and reliable support when it's needed most. Since 1999, we've paid out over 45 million in claims.





Our UK-based operation is regulated by the Financial Conduct Authority, and our dedication to staff Training & Development has seen us recognized with Investors in People status since 2002.

The Role:

As Junior Product Analyst, you'll play a key supporting role in delivering precise and insightful product analysis to inform our pricing strategies, risk assessment, and operational improvements. Working alongside the Senior Product Analyst, you'll contribute to the profitability and competitiveness of our product offerings by analyzing data and sharing valuable insights with colleagues across the business.

Key Responsibilities:

Product & Financial Analysis:

Analyze product performance metrics, including revenue, claims trends, lapse rates, and loss ratios Support the development and maintenance of financial models for product profitability and scenario analysis Contribute to regular dashboards and reports that effectively communicate performance metrics Identify patterns or anomalies in performance data and escalate appropriately

Data Management & Reporting:

Extract, clean, and validate datasets from internal systems and external sources Utilize Excel, SQL, or tools like Power BI to create effective visualizations and reports Monitor data quality and assist in resolving data discrepancies or reporting issues Maintain data files, templates, and documentation to ensure accuracy and accessibility

Regulatory Compliance & Governance Support:

Assist in maintaining documentation in compliance with FCA PROD, Solvency II, and internal governance requirements Support the preparation of product assessments, fair value documentation, and regulatory submissions Ensure accuracy and timeliness of data inputs for quarterly regulatory returns

Market Research & Strategic Input:

Conduct comparative analysis of competitor products to assess market positioning and pricing Monitor industry standards, product trends, and evolving customer expectations Synthesize research findings for the Senior Product Analyst and contribute to strategic discussions

Cross-Functional Collaboration:

Work closely with colleagues in actuarial, finance, underwriting, and compliance to share data insights Participate in cross-functional meetings and complete follow-up analysis as required Assist the Senior Product Analyst in preparing presentations and summaries for senior stakeholders

What We Offer:

25 Days Annual Leave + Bank Holidays Ongoing Training & Development opportunities Excellent work/life balance Room for professional growth in a regulated environment

Salary:

30,000 - 40,000

Who We're Looking For:

Degree in a numerate discipline such as Mathematics, Economics, Finance, or Data Science (or equivalent experience) Strong Excel skills, including proficiency with formulas, charts, and pivot tables Knowledge of SQL or similar query languages would be advantageous, though not essential Experience with reporting tools such as Power BI or Tableau would be beneficial Previous insurance industry experience is desirable but not essential; experience in a similar FCA regulated field would be particularly valuable Strong attention to detail and analytical capabilities Excellent written and verbal communication skills Ability to manage multiple priorities and meet deadlines in a dynamic environment Collaborative approach with an aptitude for working across different departments

Location:

Based in the UK with presence in our London office required 1 day per week and regular travel expected across Edinburgh and London

Recruitment Process:

CV screening Initial 10-15 minute Teams interview for successful applicants In-depth Teams interview with hiring manager for shortlisted candidates * Final stage face-to-face interview with hiring manager and another team member