Pricing Analyst
Description
We're excited to offer a full-time, permanent Pricing Analyst role within AXA Commercial in Glasgow or Gloucester. In this crucial position, you'll be responsible for analysing performance data and recommending pricing and underwriting adjustments for products across Property, Casualty, and Motor classes. By examining key internal and external data sources, you'll play a vital role in driving strategic pricing and underwriting changes. Your insights will help us seize opportunities for growth and development in the fast-evolving SME marketplace, ensuring we stay ahead of the curve in this dynamic industry.
At AXA we work smart, empowering our people to balance their time between home and the office in a way that works best for them, their team and our customers. You'll work at least two days a week (40%) away from home, moving to three days a week (60%) in the future. Away from home means either attendance at one of our office locations, visiting clients or attending industry events. We're also happy to consider flexible working arrangements, which you can discuss with Talent Acquisition.
What you'll be doing:
• Develop and deliver pricing and underwriting reviews for Property, Casualty, and Motor products across open market, direct, and software house markets.
• Monitor and analyse product performance regularly, focusing on GWP, new business, conversion, retention, loss ratio, and COR, with reports and trend insights.
• Review underwriting criteria, question sets, and rating structures, providing recommendations for improvements and implementation.
• Incorporate competitor monitoring data and external risk insights into pricing and underwriting strategies.
• Maintain governance documentation for rate tables, structures, algorithms, and price changes to ensure proper approval processes.
• Suggest product development changes in collaboration with relevant stakeholders to support growth and profitability.
• Manage rating changes through the IT change process, ensuring accurate updates across all systems, and act as a point of contact for IT issues.
• Support the development of advanced rating engines to enhance product offerings and support strategic goals.
Due to the number of applications we expect to receive for this role, we reserve the right to close this advert earlier than the listed closing date to ensure we're able to effectively manage interest. Therefore, if you're interested in joining us at AXA, please don't hesitate to apply.
We know that some candidates may be discouraged from applying if they don't meet every requirement. If you're excited by this job and the prospect of working at AXA but you're not sure you tick every box, we'd still encourage you to apply.
What you'll bring:
• Experience in producing detailed analyses from various data sources, considering multiple factors affecting product performance, and making informed decisions to support profitable growth.
• Sound analytical and numeracy skills.
• Ability to present, influence, and persuade others effectively.
• Proficient in PC tools such as SAS, Radar/DataBricks, Power BI, Excel, and PowerPoint.
• Excellent relationship-building and influencing abilities.
• Previous experience in the insurance industry, with a good understanding of small commercial products across Property, Casualty, and Motor classes would be advantageous.
• ACII or a numeracy qualification (or working towards it) is desirable.
As a precondition of employment for this role, you must be eligible and authorised to work in the United Kingdom.
This position has been defined as an Insurance Distribution Directive (IDD) role under the IDD regime which means that in addition to pre-employment screening checks, the successful candidate will be subject to background screening every 4 years with an annual declaration in interim years.
What we offer:
At AXA UK, we're appreciative of the people who work for us and our rewards package is reviewed regularly to reflect that. You can expect to receive:
• Competitive annual salary of up to £35,000 dependent on experience.
• Annual company & performance-based bonus.
• Contributory pension scheme (up to 12% employer contributions).
• Life Assurance (up to 10 x annual salary).
• Private medical cover.
• 28 days annual leave plus Bank Holidays.
• Opportunity to buy up to 5 extra days leave or sell up to 5 days leave.
• Wellbeing services & resources.
• AXA employee discounts.
To apply, click on the 'apply for this job' button, you'll then need to log in or create a profile to submit your CV. We're proud to be an Equal Opportunities Employer and don't discriminate against employees or potential employees based on protected characteristics. If you have a long-term condition or disability and require adjustments during the application or interview process, we're proud to offer access to the AXA Accessibility Concierge. For our support, please send an email to saraya.cussons@axa-uk.co.uk.
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Who we are:
AXA Commercial protects businesses, from multinationals to micro start-ups, giving them the confidence to thrive. We're currently making our biggest ever investment to develop the expertise and skills we need to be the best. We're a vibrant community where everyone is supported to learn, develop, and take ownership of their work.