Senior Pricing Analyst - R&D
Liverpool Victoria General Insurance Group
Location: West Midlands
Job Type: Not Specified
About the Role
LV= General Insurance have an exciting opportunity to join our Pricing Research & Development (R&D) Team as a Senior 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 Senior 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 create and deliver your own plans for projects that bring together technical experts and communicate the results to stakeholders across the business. Drawing upon your existing experience in the field, this role is a great opportunity to step up to the next level in your career!
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.
So, is it the right opportunity for you?
You’ll have experience in a relevant working environment, and you’ll be looking to take the next step in your chosen path to becoming 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.
While having a financial services background could be advantageous, we’re happy to consider applicants from any industry with a proven record in delivering analytical work. Knowledge of pricing optimisation, and the skills to influence optimisation strategies for new business or renewals is desirable. This could also include (but is not limited to) working with Willis Towers Watson’s Radar software.
We don't expect you to know everything from day one, but you should be able to demonstrate the following:
- Strong knowledge and experience of using statistical methods, predictive models, and machine learning techniques to achieve business objectives. This should include (but is not limited to) GLMs (Generalised Linear Models) and tree-based GBMs (Gradient Boosting Machines).
- Experience of using a programming language such as Python or R to analyse data and create predictive models, preferably in a team environment. Proficiency in Excel and MS Office applications.
- Enthusiasm to maintain and 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 and organisation skills to allow you to plan and deliver projects, adapting where necessary to external factors
- Ability to interpret analytical outputs and communicate results to technical and non-technical audiences
- Capability to review junior team members’ work, provide feedback, and suggest improvements
- A passion for sharing technical knowledge in an informative and engaging way to support and mentor junior colleagues across Pricing
- Knowledge of price optimisation and the regulatory environment
- Comprehensive knowledge of the principles of insurance and factors that contribute to setting the price of a policy
- Experience of development tools to enable teamwork and model deployment, e.g. Git for version control, a package manager such as conda, Azure DevOps and other relevant Azure services
- Experience of a data manipulation software tool such as SAS, SQL, or DataBricks
- Solid experience with Willis Towers Watson software such as Radar Base, Optimiser and Emblem
Customers are at the heart of everything that we do, so you’ll need to live the LV= values and consider customer impacts when proposing pricing changes, appropriately documenting work for implementation and future reference. As a key member of the team, you’ll plan and 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:
- Plan and carry out model builds and updates – continually looking to improve data and m end-to-end delivery 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
- Review junior team members’ work, provide feedback, and suggest improvements
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, and to mentor junior team members in your chosen subject
- 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.
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.
About the Rewards
This role is a Senior Associate cluster in the LV= Structure. To find out more about our clusters, 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. Plus Bank Holidays.
- An excellent pension plan (please click here to read more about it)
- An annual bonus scheme based on company and personal performance
- Other flexible benefits including discounted retail vouchers and dental insurance
25% discount off our general insurance products including home, pet and travel as well as up to 50% discount on your car insurance
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
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