Telematics Technical Pricing Lead

Telematics Technical Pricing Lead

Location:
Haywards Heath or Manchester
Salary:
Up to £75,000
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 Telematics Technical Pricing Lead to join our Underwriting team in Salford Quays, Manchester or Haywards Heath, West Sussex.

Leading the team that creates and updates highly predictive burning cost models for First Central’s telematics products, you'll manage a programme of rating structure design, data exploration, model technique progression and iterative enhancements. 

You'll be a strong technical leader, able to recruit and develop a strong team and have great communication skills whilst engaging with the wider business to ensure trends and operational changes are reflected in prices.

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

  • Experience of telematics pricing using a variety of device scores

  • Recent and strong abilities in WTW Radar

  • Understanding and an appreciation of claims processes and conduct risks

Responsibilities:

Ahead of launch:

  • Engage with product development team to ensure capture, storage and availability of data enables efficient price modelling

  • Manage the data relationship with the telematics provider and ensure scoring algorithms maximise future opportunity of burning cost model predictive power

  • Check and reconcile new data pipelines and validate they are fit for purpose

  • Design relevant MI for account management

  • Collaborate with existing technical pricing and pricing innovation teams to ensure telematics burning cost models harness full power from non-telematics data, and efficiently enhance/tailor existing models to suit telematics product

  • Design future-proofed rating structures using WTW Radar software that are optimally structured to host technical price calculations (eg non-telematics and telematic components, telematic specific rating factors, etc)

  • Collaborate with underwriting colleagues to establish decline rules and protective pricing loads

  • Articulate pricing assumptions and plan how these will be measured and validated/updated post launch

Post-launch:

  • Collaborate with account managers to monitor emerging macro A vs E account trends and rebase prices accordingly

  • In collaboration with retail pricing, monitor sales mix, iterate prices to manage concentration risk and propose with reason that changes are either technical pricing or retail pricing actions

  • Iterate pricing structures for new business pricing reflecting emerging driving scores and associated claims experience

  • Establish and iteratively improve pricing structures for first-year renewals

  • Ensure the above are compliant with General Insurance Pricing Principles and further iterate and refine pricing models so they are predictive for all tenures

  • Derive new features from granular trip data and score combinations to improve predictive fit of models

  • Recruit team of analysts to analyse emerging exposure and claims, and to build telematics burning cost models

  • Establish a programme of continuous improvement in burning cost modelling and data enrichment reflecting emerging technology and claims trends

  • Engage with reinsurance purchasing process and optimise competitive footprint for programme efficiency

Skills:

  • Experience of telematics pricing using a variety of device scores

  • Contemporary, hands-on modelling experience

  • Recent and strong abilities in WTW Radar

  • Contemporary, hands-on modelling experience

  • Ability to mine large datasets of individual trip data for predictive factors

  • Statistical credibility and risk management mindset

  • Clear vision for MI design and optimal use

  • Able to create, clearly structure and maintain documentation of models and decisions

  • Appreciation of commercial realities of insurance

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.

So, if you’re up for the challenge and would like to join our vibrant and busy team, we want to hear from you today.

Want to know what it’s really like to work at First Central? Take a look at our Glassdoor reviews.

We’re happy to discuss flexible working during the recruitment process .

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glassdoor

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

Based on 150 Glassdoor reviews (October 2021)

Benefits

View all benefits >

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.