Senior Pricing Analyst (Motor)
About The Job
Admiral has always considered our Pricing department to be a fundamental cornerstone of the successful growth of our business. As the market continues to evolve and we continue to develop the way we work, we are looking for a driven, skilled, and experienced Pricing Analysts to join us. We have opportunities available in;
- Van Pricing
- Cross – Risk Pricing
In May 2017, Gladiator Commercial, our van broker, changed to Admiral Van, our direct insurance provider. In the 5 years since then, Van has gone from generating around £2m profit per year to £20 - £25m - a ten-fold increase.
Van insurance is Admiral UK’s 2nd largest product by premium and 3rd by number of customers. Admiral is the UK’s largest Commercial Vehicle insurer.
Despite this impressive progress, we have very exciting plans to grow further and are looking for Pricing Analysts to support with our growth. The Van Pricing team are responsible for all aspects of setting the prices for our Van customers. This requires us to understand and consider a variety of topics, such as claims risk and profitability, combined with an awareness of the wider Van market in order to support the Van product in continued strong and profitable growth.
Admiral has innovated and disrupted the insurance market and developed new products like Multi-Car, Multi-cover etc. Admiral’s Multi products have been very successful and plays an important role in Admiral’s growth strategy. The cross-risk pricing team is responsible for the pricing of these Multi products. Diversification is a key strategic pillar in Admiral’s business strategy and the cross-risk pricing team plays an important role in growing diversified portfolio for Admiral.
The role provides exposure to all Admiral products (Car, Van, Home, Travel and Pet) and an excellent opportunity to learn about their pricing. The role also requires having strong communication and collaboration with Data Protection and IT teams.
- Demonstrate strong technical knowledge of our analytical tools, platforms and software to enable you to effectively drive forward the implementation of Pricing initiatives.
- Analysing our pricing structures and past performance to improve risk management
- Ensure that we are making optimal use of external data sources available to us in relation to market prices, and assessing value of new data sources
- Communicating results and ideas to key decision makers across different group companies, including Heads of Department and CEO/COO
- Potential for line management and development of analysts within the team, including development of technical skills
- Develop strong relationships with colleagues, both within the department as well as the wider business, to ensure successful delivery of projects that involve cross-departmental cooperation and collaboration
- Support and collaborate on a range of strategic projects that have the potential to change the way Pricing operates in the future
This is not a full definition of the role but covers the main aspects and drivers for success
We are looking for a creative, innovative and committed person with 1-3 years experience in Insurance Pricing, who has a track record of finding insight in data, can take ownership for driving forward change and has a passion for sharing knowledge through mentoring/coaching role (although no formal management experience is required).
- A degree, 2:1 (or equivalent) or above in a STEM or strong numeric discipline
Essential Skills and Experience
- Strong quantitative and analytical skills supported by a solid academic and work background
- 1-3 years + in any general insurance pricing role
- Experience of working with SAS or GCP or similar packages
- Proactive and creative approach to taking initiative and getting things done
- Willingness to learn from the bottom up and put in the time to acquire the necessary technical skills
- Team player with proven ability to collaborate and build relationships
- Excellent interpersonal and communication skills (both written and verbal)
- Personality and a sense of humour (we believe work should be fun!)
Desirable Skills and Experience
- Experience with Fleet Pricing is desirable but not essential
- Ideally you will have some coaching/mentoring experience (inside or outside of work
In this role, you will report to the Pricing Manager within the team that you join.
We’re a big believer in personal development and preparing you for success in this role as well as your next. We’ll provide a range of on-the-job training as well as other opportunities to learn all the key skills you’ll need.
We offer a steady path of career growth with many of our previous analysts progressing to leadership roles involving regular contact with some of our most senior managers.
Thanks to the culture and structure of our business, the skills and experience developed within our Pricing team would be transferable to other analytical departments as we grow our product portfolio.
The Pricing team generally adopt a hybrid working pattern split between the office and home. We will provide you with everything you need to work comfortably from home. You can decide if you want to come to the office between 1-5 days per week.
Working in Cardiff, successful candidates would enjoy access to a vibrant culture of restaurants, shopping, and nightlife as well as a gateway to stunning Welsh countryside including the sandy beaches of the Gower Peninsula and the rolling hills of the Brecon Beacons.
Salary, Benefits and Work-Life Balance
We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements and will be happy to discuss the remuneration package.
At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it's one of the reasons we’re consistently voted one of the Sunday Times Best Big Companies to Work For in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.
All colleagues will receive 33 days holiday (including banks holidays) when they join us, and this will increase with length of service, up to a maximum of 38 days (including bank holidays). You also have the option to buy or sell up to five days of annual leave in addition to your allocation.
You can also view some of our other key benefits here;
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