Senior Pricing Analyst

We are recruiting for a Senior Pricing Analyst to join our Trading team. The Trading team's main focus is on ensuring the profitability of our insurance products by maintaining the loss ratio via pricing overlays based on emerging trends. We are also responsible for making sure sales volume and average premium targets are being met by responding to changes in the market.The successful candidate will have expert knowledge of the market and previous experience in developing and deploying pricing changes. Data science skills such as statistical machine learning applied using open source programming such as Python or R are a benefit but not a necessity. You must be an excellent communicator and have a desire to work in a fast-paced environment.What you'll be responsible for:Data Analysis and Pricing Model Development:Collect, clean, and analyse large data sets from internal and external sources.Assist in developing and refining pricing models using statistical and actuarial techniques.Monitor pricing model performance and recommend adjustments based on market trends and emerging risks.Lead innovation creating new factors/ideas for pricing.Take ownership of projects running across teams (technical and non-technical) ensuring delivery.Become a technical expert in various areas within the Trading team.Market and Competitive Analysis:Conduct research to understand market dynamics, customer behaviour, and competitor pricing strategies.Provide insights to ensure the company remains competitive while maintaining profitability.Collaboration and Stakeholder Engagement:Collaborate with underwriters, product managers, and claims department to ensure alignment between pricing strategies and product development.Communicate complex analytical findings and pricing strategies to non-technical stakeholders clearly and effectively.Reporting and Compliance:Prepare detailed reports on pricing performance, profitability, and risk metrics for senior management and regulatory bodies.Ensure compliance with regulatory standards and internal governance policies.Continuous Improvement:Identify opportunities to enhance pricing processes and implement innovative approaches.Stay updated on industry developments, new tools, and methodologies.Assist in developing junior colleagues through coaching and feedback.Qualifications:Degree qualified in a relevant field (preferably mathematics, statistics, data science, actuarial science, physics, economics, or a related field).PhD or master's degree in a relevant field would be an advantage.Actuarial or CII qualification would be an advantage.Programming experience in SAS, SQL, Python or R essential.A proven track record of delivering pricing changes with measurable business value.Extensive knowledge of how an insurance product is priced from start to finish.Extensive knowledge of the motor insurance market.Experience with large (1m+ rows, 1k+ columns) data sets is essential.Managing projects alone and in teams.Commercial awareness and drive for practical outcomes.Question everything; search for innovative new solutions.Strong analytical mindset.Good communication skills; ability to present complex data insights clearly and persuasively to both technical and non-technical audiences (both in writing and verbal).Our Benefits:25 days annual leave, rising to 27 days over 2 years' service and 30 days after 5 years' service. Plus bank holidaysDiscretionary annual bonusPension scheme - 5% employee, 6% employerFlexible working - we will always consider applications for those who require less than the advertised hoursFlexi-timeHealthcare Cash Plan - claim cashback on a variety of everyday healthcare costsElectric vehicle - salary sacrifice scheme100's of exclusive retailer discountsProfessional wellbeing, health & fitness app - WrkitEnhanced parental leave, including time off for IVF appointmentsReligious bank holidays - if you don't celebrate Christmas and Easter, you can use these annual leave days on other occasions throughout the year.Life Assurance - 4 times your salary25% Car Insurance Discount20% Travel Insurance DiscountCycle to Work SchemeEmployee Referral SchemeCommunity support dayAbout Somerset Bridge Group: Somerset Bridge Group is dedicated to delivering fair products and innovative services in the insurance industry. Our group focuses on underwriting, broking, and claims handling to provide sustainable and innovative insurance solutions. We are proud of our industry awards and growth, and we value our team members' contributions. Join us to be part of a dynamic team that fosters creative thinking and personal development. We are committed to diversity and inclusion and have been awarded a Silver Accreditation from Investors in People. #J-18808-Ljbffr