Job Description

Description

We are recruiting for a Pricing Analyst to play a critical role in shaping pricing strategies within the telematics insurance sector. Using advanced statistical techniques, data analytics and actuarial methods, the Pricing Analyst will ensure competitive, fair and profitable pricing structures.

The role focuses on customer engagement with telematics App and managing drivers' telematics data to drive improvements in risk pricing while adhering to regulatory and market requirements.

What you'll be responsible for:

Data Analysis and Modelling

:Analyse historical data and trends to develop accurate pricing models and forecasts. Apply statistical and actuarial techniques to identify key risk factors influencing pricing decisions. Develop trading performance monitoring and predictions. Utilize insights from telemetry data, and customer App engagement to drive improvements in risk performance. Claims analysis and loss ratio performance monitoring (including projecting ultimate).

Pricing Strategy Development:

Collaborate with pricing actuaries to design competitive pricing strategies aligned with the company's financial objectives. Utilise insights from market research and competitor analysis to refine pricing recommendations.

Reporting & Communication:

Present findings, insights and recommendations to senior management and stakeholders in a clear and impactful manner. Prepare and maintain detailed documentations of pricing models and methodologies. Present portfolio driving score movements and engagement levels.

Collaboration:

Work closely with Underwriting, Marketing and Claims teams to incorporate diverse perspectives into pricing decisions. Liaise with IT teams to implement pricing tools and system enhancements.

Regulatory Compliance:

Ensure pricing models and practices comply with relevant regulations and guidelines, including those issued by the Financial Conduct Authority (FCA).

Innovation:

Contribute to the development and testing of customer engagement models. Explore and leverage machine learning tools to enhance predictive accuracy.

Continuous Improvement:

Monitor the performance of pricing models, recommending updates as needed. Stay abreast of industry trends, emerging risks and technological advancements.

What you'll need:

Bachelor's degree in Mathematics, Statistics, Actuarial Science, Economics, or a related field is desirable, or a non-related degree which covers modules in data/coding or programming, for example. A passion for data, covering accuracy and integrity of data and driving actionable insights. Strong analytical and problem-solving skills with a high level of numerical proficiency. Knowledge of statistical software (e.g. R, Python, SQL) and data visualisation tools (e.g. PowerBI, Tableau). Familiarity with pricing techniques, including GLMs (Generalised Linear Models) and machine learning algorithms. Ability to interpret large, complex datasets and drive actionable insights. Excellent communication and presentation skills to convey technical findings to non-technical stakeholders. Teamwork and collaboration skills, with an aptitude for working across departments. Knowledge of insurance products, customer segments and market dynamics is desirable. Knowledge of telematics products, telemetry data and customer engagement analysis is desirable.

Our Benefits:

Hybrid working - 2 days in the office and 3 days working from home 25 days annual leave, rising to 27 days over 2 years' service and 30 days after 5 years' service. Plus bank holidays! Discretionary annual bonus Pension scheme - 5% employee, 6% employer Flexible working - we will always consider applications for those who require less than the advertised hours Flexi-time Healthcare Cash Plan - claim cashback on a variety of everyday healthcare costs Electric vehicle - salary sacrifice scheme 100's of exclusive retailer discounts Professional wellbeing, health & fitness app - Wrkit Enhanced parental leave, including time off for IVF appointments Religious bank holidays - if you don't celebrate Christmas and Easter, you can use these annual leave days on other occasions throughout the year. Life Assurance - 4 times your salary 25% Car Insurance Discount 20% Travel Insurance Discount Cycle to Work Scheme Employee Referral Scheme Community support day

About Somerset Bridge Group

Somerset Bridge Group is dedicated to delivering fair products and innovative services in the insurance industry. Our group focuses on underwriting, broking, and claims handling to provide sustainable and innovative insurance solutions. Somerset Bridge Insurance Services Limited, operating under GoSkippy and Vavista, offers insurance coverage to over 700,000 customers. Somerset Bridge Limited handles underwriting and claims, processing almost 50,000 claims annually. Somerset Bridge Shared Services Limited provides essential support functions to ensure operational efficiency and compliance. With a strong commitment to values, culture, and customer service excellence, Somerset Bridge Group is recognised for its industry awards and growth. Join us to be part of a dynamic team that fosters creative thinking and personal development.

We are very proud to have been awarded a Silver Accreditation from Investors in People! We recognise that all of our people contribute to our success. That's why we are always looking for talented people to join our team - people who share our vision, who are passionate about what they do, and who want to be part of something special.

Equal Opportunity Employer

Somerset Bridge Group is committed to creating a diverse environment and is proud to be an Equal Opportunity Employer. We prohibit discrimination or harassment of any kind based on race, color, religion, national origin, sexual orientation, gender, gender identity or expression, age, pregnancy, physical or mental disability, genetic factors or other characteristics protected by law. SBG makes hiring decisions based solely on qualifications, skills and business requirements.