Senior Pricing Innovation Analyst

Senior Pricing Innovation Analyst

Location:
Haywards Heath
Salary:
£43,000 to £52,000 depending on experience
Department:
Underwriting
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We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.
 

We currently have an exciting opportunity for a Senior Pricing Innovation Analyst to join our Underwriting team in Haywards Heath, West Sussex.


You'll be responsibile for the continuous improvement of the burn cost models
through the identification of new predictive factors, increasing the granularity of the models, the investigation of novel predictive modelling techniques and developing cutting-edge reporting suites.

Exploring, learning new tools (open source / commercial statistical modelling packages) and techniques (including machine learning), you'll be abreast in changes about the Motor Insurance Market and the relevant standards and regulations.

To be successful in this role, you’ll need to:

  • Hold a minimum 2:1 in a numerical undergraduate discipline

  • Have experience of a relevant commercial and pricing role within the personal lines motor insurance industry

  • Have experience with analytical programming languages, such as SAS, Python and R and with building predictive models using applications such as Emblem, Radar (machine learning) and Python/R

Job responsibilities:

  • To lead the building of new predictive models using linear and non-linear statistical techniques; to monitor, maintain and update existing statistical models.

  • To solve key company questions relating to the Pricing & Underwriting department, and to provide analysis, insight and competitive advantage to the company by producing recommendations, analysis and reports that maximise customer satisfaction and the profitability of the company.

  • Lead a sub-team of analysts. To pro-actively seek ways to improve existing processes in the Pricing & Underwriting Department.

  • To supervise a team of analysts within the Pricing Innovation Team ensuring delivery to targets. To recruit, develop & motivate more junior analysts, and control workloads.

  • Contribute to the appropriate use of statistical techniques & models to improve the accuracy and stability of burn cost models.

  • Contribute to the development of analytical tools and reporting suites to enable the efficient testing of new factors and modelling techniques.

  • Continually support the development the rate change process to ensure we minimise rating errors and efficiently make changes as required by the business.

Daily and weekly tasks covering:

  • Learn new tools and techniques

  • Production of Pricing & Underwriting analysis reports

  • Ad hoc project work providing analysis to the Pricing & Underwriting function

  • Maintenance of analysis programs written in SAS, RADAR, and other software packages

  • Write new analysis code using SAS, RADAR, and other software packages

  • Build predictive models using SAS, EMBLEM, Python/R and other software packages

  • Monitor, maintain, update and improve existing predictive models

  • Develop and productionise a rate factor testing tool to enable efficient testing of new data sources in our burn cost models

  • Produce timely and accurate information for management decision-making purposes

  • Apply statistical techniques including generalised linear modelling and non-linear methods to improve the performance of the company

  • Liaise with other departments on data issues, business effects influencing company reports, business processes and operational issues

  • Analyse business issues to find solutions to and make recommendations to improve profitability

  • Present findings and results in a clear and logical manner; produce written reports

  • Provide input and advice into company analysis strategy and the effective implementation of that strategy to meet company requirements

  • Create an innovative approach which drives the business forward by introducing new analytical methods, making use of new data sources and producing reporting suites to track performance

People responsibilities covering:

  • Train, develop & guide more junior analysts and graduate analysts

  • Manage workloads and motivate direct reports (if any) to ensure engagement and productivity

  • Implement department timescales on any standard report production, ad hoc business queries, and external requests

  • Positive manner with ability to communicate well with all colleagues and stakeholders

  • Ensure compliance with company and other relevant standards / regulations

Job-specific competencies
Experience, Knowledge, Skills & Behaviours

  • Personal experience with analytical programming languages, such as SAS, Python and R.

  • Personal experience with building predictive models using applications such as Emblem, Radar (machine learning) and Python/R.

  • Radar experience essential

  • Excellent appreciation of General Insurance, preferably personal lines insurance

  • Proven ability to produce outstanding results based on own initiative

Underlying Skills of:

  • Strong mathematical skills

  • Strong problem-solving skills, with the ability to adopt a logical approach to solving problems

  • Excellent data and statistical analysis skills

  • Strong IT skills (including Excel and ideally programming skills)

  • Good communication skills, both verbal and written

  • Good time management and organisation skills

  • People and project management skills

Base Knowledge of:

  • Broad knowledge of statistical methods and techniques

  • Good knowledge of motor insurance products and the motor insurance industry

  • Solid understanding of the business objectives and operations

Demonstrable Behaviours of:

  • Logical thinker with solid reasoning ability

  • Commercially focussed

  • Emphasis on attention to detail and accuracy

  • Quick learner

  • Able to transfer skills and knowledge to others

  • Self-motivated and enthusiastic

  • An organised and pro-active approach

Aligned to the values of Ambition; Agility; Ownership; Collaboration

What can we do for you? 

We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…

  • Fantastic training and development opportunities

  • Employee benefit packages to suit your lifestyle

  • Flexible working

  • YOUday – we give you an extra day off to celebrate a special day

  • The opportunity to take a paid day off each year to do charity work

  • A health cash plan

  • Help with travel expenses

  • The opportunity to buy additional holiday

  • Company pension scheme

  • Group life assurance

  • Enhanced maternity and paternity pay

  • Professional subscription fees paid

Employee wellbeing is high on the agenda here too. We provide a weekly free fruit delivery, discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.

For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Recruitment team.

Interested? Apply today and take the next step in finding your dream job.

We’ve received some great feedback from employees on Glassdoor. Don’t believe us? Check out our reviews for yourself!

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86% of people would recommend a friend to work at First Central

Based on 150 Glassdoor reviews (October 2021)

Benefits

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Flexible working

We support colleagues who wish to work flexibly whilst meeting the needs of the business.

YOUday

We give you an extra day off to celebrate a special day.

Holiday Extra

Not only do you get a generous holiday entitlement, you can also buy additional leave.

Volunteering

Get a day off each year to take part in volunteering activities.

Health cash plan

Claim money back on your healthcare costs, such as dental check-ups and eye tests.

Season ticket loan

We provide interest-free loans to cover the cost of season tickets for rail, bus or car parking.