Acorn Insurance & Financial Services has over 30 years of experience helping people secure competitive car, taxi, van, motor trade and home insurance, all across the UK. As a specialist insurance provider, we are able to offer a wide range of competitive insurance policies that can be tailored to your unique insurance needs.
The business is looking to enhance and invest in its data-driven, disciplined underwriting and pricing capability and looking for a Head of Pricing to work closely with the experienced and knowledgeable management team to drive long-term value through data-driven underwriting and pricing. Although the role will be based in London, some travel to the Head Office in Formby and other UK office locations will be required.
Role and responsibilities:
- Management of pricing function and associated team
- Development and maintenance of a personal lines GLM pricing models using relevant statistical software, covering new business and renewal pricing
- Peril-based frequency and severity GLM modelling
- Costing of policy options and product variations
- Develop and enhance pricing capability through the implementation of new rating factors, interactions and micro-segmentation
- Incorporation of appropriate cost of capital into product-specific pricing
- Develop and embed technical pricing strategy, using experience and learnings from the GI market, to significantly enhance technical pricing
- Enhance models by implementing cutting edge statistical modelling techniques
- Identify opportunities to embed insights into technical pricing
- Develop and enhance customer lifetime value methodology, working closely with the price optimisation team
- Identify opportunities to improve demand modelling, including the wider use of internal and external data
- Develop appropriate A/E reporting for technical pricing models
- Present insight and proposals to key stakeholders
- Share best practice and enhance analytical capability
- Calculation and utilisation of lifetime value to drive critical business decisions
- Optimisation of new and renewal pricing
- Build behavioural models following investigations of customers' responses to price
- Design and build models to predict the impact of any price change to the overall business
- Research and development covering data sources, data mining and alternative modelling techniques, e.g. automated modelling techniques
- Competitor analysis and market activity, including researching and monitoring competitor pricing activity
Qualifications, Experience and Skills:
- UK Qualified Actuary or equivalent International qualification with proven team leadership experience
- Experience of working in general insurance (GI) retail insurance in a pricing role
- Track record of delivering pricing initiatives and benefits
- Solid understanding of GI pricing and analytical techniques, in particular GLM, machine learning etc.
- Experience of GI analytical and pricing software, including Emblem, Earnix, SQL, Radar, R
- Experience of managing and prioritising multiple priorities
- Excellent verbal and written communication skills, able to explain technical concepts to non-technical stakeholders
- Ability to analyse problems and challenges, and develop structured solutions
- Desire to challenge the status quo and offer new solutions in a proactive manner
- Experience and ability to provide mentoring and coaching
Closing date for applications for this role is 2 January 2019.
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