Product & Pricing Analyst (m/f/d)

 

Location
London , United Kingdom

 

Are you passionate about data and interested in pursuing your Actuarial examinations? Great Lakes are currently recruiting for a newly created role that would give a real insight into the world of insurance and is a great mix between the commercial side of the business and traditional actuarial!

About Great Lakes Insurance

As specialty provider of primary insurance services in the UK, Great Lakes Insurance SE, UK Branch is a substantial part of our parent, Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE currently operates from its Head Quarter in Munich, and via branch offices in UK, Switzerland, Italy and Australia.

In the UK, Great Lakes is currently undergoing the authorisation process from the Prudential Regulatory Authority and Financial Conduct Authority for a Third Country Branch (“GLLB”) and a Subsidiary (“GLLS”). These two entities will secure our future in the primary insurance service market in a post-Brexit world, by enabling us to continue writing our existing business.

It is an exciting time to join our growing and evolving organisation, help us shape the future of primary insurance service provision!

Your job

About the role

This role will assist in the development, approval and monitoring insurance products with a focus on the pricing and underwriting performance. Within the team, you will be responsible for the development of internal MI dashboards and support the team in analysing data relating to each product, including pricing and conduct risk and collaborating closely with our internal business partners with analysis on developments within the products we underwrite.

The Product & Pricing Analyst will bring strong numeric and problem solving skills to the team, and a willingness to develop an in-depth knowledge of the insurance industry. You will lend a hand to multiple areas of the business to ensure appropriate oversight of the products distributed by Great Lakes.

Key Responsibilities

• Understand the data available to Great Lakes from various sources and ensure we receive regular data to aid us in effectively monitoring our products.
• Ensure that our products meet regulatory requirements from a pricing and monitoring perspective.
• Support the Pricing Manager with in depth-reviews of the pricing adequacy of our products.
• Understand the distribution landscape of our insurance products, from price comparison websites to digital verticals and corporate platforms and how to optimize the product design/pricing for the respective distribution channels.
• Active collaboration in defining Great Lakes pricing best practices.
• Work closely with the Product Team to ensure effective collaboration with all internal and external partners in the product process.

General Duties and Task

• Review the monitoring dashboards provided by business partners in order to assess the underwriting performance of the business and present the insights to the Product Committee.
• Collaborate with colleagues within the Product team and beyond in order to deliver on internal and regulatory oversight requirements.
• Consider our current data mapping techniques and look for continuous improvement in order to ensure we have transparency through our value chain.
• Work on pricing data to provide insights on product developments either for reviews of existing products or potentially new products.
• Help to prepare reports for product reviews that outline the performance and governance procedures for our products.

Your profile

General Duties and Task

• Review the monitoring dashboards provided by business partners in order to assess the underwriting performance of the business and present the insights to the Product Committee.
• Collaborate with colleagues within the Product team and beyond in order to deliver on internal and regulatory oversight requirements.
• Consider our current data mapping techniques and look for continuous improvement in order to ensure we have transparency through our value chain.
• Work on pricing data to provide insights on product developments either for reviews of existing products or potentially new products.
• Help to prepare reports for product reviews that outline the performance and governance procedures for our products.

Key Skills & Experience

• Data analytics experience with relevant software training
• Desire to progress in the actuarial exams
• Strong analytical abilities and organisational skills
• Strong interpersonal skills, a great teammate and highly motivated

Desirable:

• Knowledge of Power BI (or other visualisation tools)
• Knowledge of R

Qualifications and Educational Requirements

University degree in mathematics, statistics, actuarial science, or equivalent technical degree.

About us

Benefits

You will be rewarded with a competitive salary, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers contributory pension of 10%. This role offers a hybrid working environment where you can work flexibly from home or our London office.

About Us

Here at Munich Re we seek to offer our staff the opportunity to grow in an exciting, results-oriented and diverse working environment. We believe that your dedication to apply your outstanding knowledge crafts the future; the future of our clients, of Munich Re and of course your own.

Munich Re is an equal opportunity employer. We celebrate diversity and are committed to crafting an inclusive environment for all our employees.