About us
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.
ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.
The role
- The role sits within the ERS Motor Pricing function supporting the Personal Lines area of the team. Personal Lines Pricing provides pricing support to the Retail, Bespoke and Delegated Classes of Business.
- The role holder has accountability for materially contributing to the execution of the business and pricing strategy in such a way as to support our financial objectives.
- The Pricing Analyst is responsible for assisting with the development of pricing models and producing key insights which support the management of schemes and brokers. This is across a variety of products whilst supporting the pricing development and pricing cycle process.
- The successful candidate will be able to introduce and maintain knowledge of advanced modelling and data science methodologies/techniques as required by the individual demands of a project.
Success in the role requires extensive collaboration with other business functions to ensure all capabilities within the business are utilised effectively to meet our financial plans
Key responsibilities
- Contribute to management of the financial performance of a diverse range of product propositions in a complex and competitive market.
- Utilise Actuarial and Data Science techniques to build and enhance pricing or sub-pricing models.
- Work closely with other areas of the business to ensure the aims and impacts of any pricing change are conducive to the objectives of the product.
- Use analysis of data to monitor & investigate performance of products.
- Ensure that the execution of the pricing delivery plan is on time by working to agreed timescales and to a high standard.
- Work with Pricing Management to ensure that activity is aligned with Pricing Strategy and wider business objectives.
- Support the development of MI & reporting processes within the Pricing team.
- Help develop a robust price change control process. Support the Deployment Team to design & implement effective testing of change to increase accuracy in deployment and understanding of risk.
The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.
Qualifications, Skills & Experience
This role carries strategic input and financial responsibility as well as being recognised as a market leading subject matter expert in our product(s).
- Extensive technical knowledge of the product(s), including the features of the product, factors that drive product performance, market dynamics which influence how the product is delivered and the requirements of customers using the product(s)
- To demonstrate gravitas and clarity of purpose which will give confidence to senior stakeholders, both internally and externally
- Detailed understanding of sophisticated pricing practices and methodologies with the ability and experience to help us constantly enhance our pricing capability, adding insight and innovation to how we build and utilise risk pricing
- Extensive knowledge of the legal, regulatory and compliance provisions that apply to the UK motor insurance market
Benefits
- Competitive Benchmarked Salary
- 25 days holiday
- Discretionary bonus scheme
- Employee assistance programme
- Annual holiday buy (up to 3 extra days)
- Salary sacrifice benefits
- Annual benefits reviews
- The option for professional qualifications and study support
Additioanl information
- A full job description can be seen here.
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