Senior Pricing Analyst (m/f/d)
ARE YOU AN ENTHUSIASTIC GI PRICING ANALYST WITH A PASSION FOR DATA ANALYTICS TECHNOLOGY AND A CURIOSITY ABOUT DEVELOPING INSURTECH?
London , United Kingdom
Digital Partners collaborates with insurance start-ups and digital verticals, working with them to develop scalable and sustainable insurance businesses. We operate with a global directive to build a more engaging insurance proposition. We strive to be the fastest and most flexible insurance partner for digital game-changers.
Digital Partners is fast-paced and multifaceted. You will champion agile and have a clear understanding of Pricing & Data Analytics best practices. A phenomenal communicator; you lead through ambiguity, being naturally curious and able to take a proactive approach to driving delivery alongside your hard-working team. Our ethos thrives when we are encouraging to each other and work together to tackle whatever is required to achieve the most successful outcome!
At Digital Partners we align with our partners, however at our core is an agile ethos with an execution focus where delivery to timelines is imperative! You should be driven and inspired by the prospect of being part of something unique in the industry.
Reporting to the Pricing Lead, this role will have responsibilities for pricing review and validation of new products (pre-launch) and ongoing monitoring and pricing of live products (post-launch). This role is crucial in ensuring that MRDP maximises the long-term value of our partnerships.
- Develop, improve and lead the pricing/rating structures for our insurance products. The current focus is on pet insurance but other lines are in scope as well. This includes:
- Adjusting pricing models for the product based on market data and our partner’s claims experience
- Providing technical expertise on actuarial models and risk issues
- Leveraging Munich Re Group’s internal resource to assist in the pricing activity
- Finalising pricing structures in line with agreed timelines and governance procedures
- Provide support for quality assurance and User Acceptance Testing (UAT) of changes.
- Monitor the performance of live products and perform rate reviews. This involves:
- Creating, maintaining and improving pricing reporting and MI capabilities
- Developing existing rating structures through analysis and recommendation of price change proposals to achieve loss ratio, GWP and profit targets.
- Monitoring and analysing market and competitor actions to optimise our competitive position
- Provide support and advice to business partners including insights into the underlying performance and ensuring that decisions taken are supported by strong technical analysis
- Support the Underwriters with product design by assessing and/or recommending changes to product covers and ensuring such changes are correctly priced.
- Be comfortable being a main point of contact for pricing for key internal and external partners.
GENERAL DUTIES AND TASKS:
Engage with all of Digital Partners’ relevant stakeholders, with a focus on pricing
Provide timely updates on opportunities, risks, issues and progress.
Overcome project impediments and report regularly on progress.
Perform analysis, rate reviews and reporting using appropriate tools and techniques.
ESSENTIAL SKILLS & EXPERIENCE
Your Ability to operate in a fast-paced environment with a focus on delivery, coupled with strong communication, facilitation, presentation & numerical skills will make you a success in this role.
We are keen to hear more about your experience in GI Personal Lines risk pricing (e.g. Motor, Home, Pet, Travel)
It'll be phenomenal to gain an insight into your knowledge of insurance processes, and understanding of wider business requirements (plus the impact pricing/product design has on them!)
DESIRABLE SKILLS & EXPERIENCE
- Programming skills from an analyst perspective (e.g. R, SAS, SQL, Python, Power BI)
- Utilising industry recognised tools such as EMBlem and Radar.
- Reserving experience across GI and Personal Lines
- Start-up experience
TYPICAL QUALIFICATIONS FOR THIS ROLE
- 2.1 degree or better in Mathematics / Statistical / STEM subject
- Part-qualified actuary or qualified through relevant work experience.
MRSG UK Services Limited is the employing entity for staff supporting the business activities of Munich Re Syndicate Limited (MRSL), Munich Re Specialty Group Limited (MRSG), Groves, John & Westrup Ltd (GJW), NMU (Specialty) Ltd (NMU) and Roanoke International Brokers Limited (RIBL).
As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.
Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht.
Known for our dedication to excellence and quality of service provision, we pride ourselves on offering you a great place to work.
Munich Re’s employees are the backbone of the Group’s business success. They are the people that drive the business forward and develop new solutions for our clients.
Ensuring that we recruit talented staff is therefore crucial to our future success. Our objective is to make Munich Re the employer of choice for potential employees on the global job market..
To help us achieve this goal we offer a competitive salary and a generous and comprehensive benefits package which we regularly review in accordance with external market data, to ensure you are paid fairly and our benefits are tailored to suit your lifestyle. Creating an inclusive environment is an essential part of the Munich Re culture and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.
Please Note: All applications must be received via the website. Any CVs received via email will not be considered.
Re_think, Re_engineer, Re_define, Re_invent, the boundaries of Insurance.
Once you hit apply, there is a short, 10 minute application form to complete. Please ensure you attach your current CV when applying and include details regarding your salary expectations. If you have a disability or special need that requires accommodation, please let us know. Due to the high volume, we cannot always provide detailed feedback at CV stage.
Talent Acquisition, Diversity & Inclusion Specialist