Pricing Analyst - Research & Development

Liverpool Victoria General Insurance Group

Location: West Midlands

Job Type: Not Specified

Posted

The most difficult thing is the decision to act, the rest is merely tenacity.
- Amelia Earhart

LV= General Insurance have an exciting opportunity to join our Pricing Research & Development (R&D) Team as a Pricing Analyst.

Our Pricing Department is currently undertaking a number of major projects that will help us shape the insurance landscape of the future. As a Pricing Analyst in the R&D Team you will play a crucial role in driving innovation that adds value across the company.

You will use machine learning techniques and insurance market knowledge to develop and implement price optimisation across our Motor and Home insurance product range. You’ll contribute to projects that bring together technical experts and communicate the results to stakeholders across the business. So whether you're at the beginning of your career or already have some Pricing experience under your belt, we'd love to hear from you!

The role will be based in our Croydon or Birmingham offices, with the option to work from home up to 3 days per week or other flexible working arrangements. We want the best people working at our organisation and we recognise that those people aren’t always available full-time. So if you need any adjustments, let us know during your interview. If it’s right for our customers, our business and for you, then we’ll do everything we can to make it happen.

About you

So, is it the right opportunity for you?

You'll be curious and keen to develop to become one of our trusted experts in the field of Pricing. While on the journey, you'll be supported by the team to grow and develop in the more technical aspects of the role. You'll have an analytical mind and a keen interest in helping drive data-led decision making across Pricing. You'll also be a great communicator, with the ability to present your ideas to stakeholders from around the business.

At LV= GI we're open to candidates with a range of experience and backgrounds: you might be a new graduate with a numeric degree, a career changer looking to move into an analytical role, or have self-taught coding skills which you want to put to use a new role.

We don't expect you to know everything from day one, but you should be able to demonstrate the following, to enable you to hit the ground running:

Essential:

  • Solid knowledge of statistical methods and predictive models, and an interest in machine learning techniques
  • Experience of learning and using a programming language such as Python or R. Solid Excel skills.
  • Enthusiasm to improve your knowledge of data science as applied to pricing insurance products
  • Excellent data handling skills, such as producing summary statistics, transformations and visualisations
  • Ability to build and maintain relationships throughout both the Pricing Department and the wider business
  • Proven teamworking skills and the self-motivation to organise your workstack and balance competing deadlines

Desirable:

  • Understanding of creating and using GLMs (Generalised Linear Models) and tree-based GBMs (Gradient Boosting Machines) to predict outcomes
  • Basic knowledge of the principles of insurance and factors that contribute to setting the price of a policy
  • Experience of a data manipulation software tool such as SAS, SQL, or DataBricks
  • Ability to interpret analytical outputs and communicate results to technical and non-technical audiences
  • Experience of applying your statistical knowledge to business problems, for example, during work experience in a relevant role
  • Familiarity with Willis Towers Watson software such as Radar Base, Optimiser and Emblem

Details

Customers are at the heart of everything that we do, so you’ll need to live the LV= values in everything you do. As a key member of the team, you’ll deliver project work to agreed business timescales based on requirements from Pricing and business-wide meetings.

You’ll use your coding, modelling, and industry expertise to carry out and deliver pricing analysis, interpret the output, and communicate the results to a technical and non-technical audience. You’ll collaborate with various stakeholders and work with the business to understand best practices and keep aligned with the best ways of working.

Your role will vary day to day, but here is a bit of what you can expect:

  • Assist in carrying out model builds and updates – continually looking to improve data and processes
  • Work with different teams and stakeholders to achieve an understanding of their needs, data requirements and expected modelling outcomes
  • Get hands-on with data from its source right through to modelling and implementation, choosing the right software tool for the job
  • Analyse data, interpret output, and communicate results to a non-technical audience

Why work for us?

Exciting things are happening at LV=General Insurance (LV=GI). Having recently become part of the Allianz family, we’re proud to be one of the largest personal insurers in the UK.

You’ll be keen to learn and pro-actively develop your career, and we’ll provide many opportunities and study support, including:

  • Access to the AllianzU platform for a wide range of learning resources to target the areas you want to improve
  • Learning resources to improve and maintain your data science skills including a company subscription to DataCamp
  • Generous study support packages for those working towards becoming a qualified actuary or another professional qualification
  • The chance to be mentored by experts in the field.
  • An established pathway for promotion and advancement of your career
  • Opportunities to diversify your experience across a variety of product lines and secondment opportunities to other departments across LV=
  • Analysts have the opportunity to attend the Allianz Global P&C (Property & Casualty) Academy. The P&C Academy accreditation helps technical people in the Allianz Group to continuously develop their knowledge as they progress in their careers. It gives recognition to technical excellence, both inside and outside Allianz Group. In addition, the accreditation supports Allianz´s claim to be the employer of choice for top technical talent in the market. The P&C Academy accreditation adheres to international standards and is supported by the Chartered Insurance Institute (CII), UK. The course offers:
      • in-depth technical training provided by experts in Allianz Group
      • opportunities to exchange with peers from other Allianz OEs around the Globe

It’ll be up to you to direct your personal development, and we’ll be there every step of the way to support you and give you opportunities to put the knowledge you gain into practice!

Driven by our pride and passion, we will always do the right thing to inspire trust in our people. That’s why we’ve made it our mission to become Britain’s best-loved insurer, by helping people look after what they love.

Rewards and Benefits

This role is a Band B in the LV= Structure. To find out more about our bands, click to view our FAQ page here. We want you to love what you do that’s why we’ve put together a benefits package that recognises and rewards a job well done.

We’ll give you:

  • Flexible working opportunities – many of our employees job share or work part-time, flexi-time, or compressed hours. Our new hybrid working model now offers all employees the option to work from home 3 days a week and 2 days in the office.
  • 26 days' holiday – which increases after two years’ service to 28 days
  • A competitive pension for which LV= will pay twice the amount you pay, up to 14% (please click here to read more about it)
  • An annual bonus scheme based on company and personal performance
  • A flexible benefits package (e.g. discounted retail vouchers, great value dental insurance)
  • A generous 25% discount off our general insurance products including home, pet and travel as well as up to 50% discount on your car insurance.

To find out more about our benefits and rewards, please click here.

LV= is an equal opportunities employer who values a diverse and inclusive workplace. We recognise that people work in different ways, and we value alternative viewpoints, celebrate individuality and foster a culture where everyone can bring their true self to work. We are committed to creating a diverse workforce and we accept applications from everyone regardless of your background, beliefs, culture, gender identity, ethnicity, sexual orientation, disabilities and long-term health conditions

Please note that LV=are unable to provide visa sponsorship for this role.

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You’ve got this!