Pricing Analyst

Munich Re; London; Hybrid; GBP 60,000 - 80,000

Job description

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

This role focuses on personal lines initially with increasingly more focus on specialty commercial lines business in line with MRSG’s strategy.

Responsibilities

1. Support the rate deployment in pricing tools and investigations on its accuracy.
2. Support the pricing team in achieving high standards of work, including technical rating of all risks and regular monitoring of Delegated underwriting contracts.
3. Lead investigation and preparation of data for performance analysis and parameterisation of pricing models.
4. Support the production of pricing and performance MI capabilities and dashboards.
5. Investigate pricing queries and respond appropriately to customers and highlight required model improvements to assist in the reduction of pricing queries and complaints.
6. Analyse pricing model data including parameter validations, including lead investigations of alternative data sources for parameterisation of pricing models.
7. Support in depth portfolio analyses and performance management and present results to a variety of stakeholders.
8. Support risk segmentation analysis and recommendation of price change proposals to achieve business targets.
9. Support for business and technical planning process.
10. Support profitability exercises using modelling and reserving techniques as required.
11. Ensure all advice offered is in line with TAS requirements and other appropriate guidelines.
12. Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
13. Any additional duties and responsibilities that may reasonably be expected to be undertaken in accordance with a pricing analyst’s role.

Knowledge and Skills

1. Being proactive and manage own workload.
2. Ability to communicate effectively with a variety of internal and external stakeholders.
3. Highly developed mathematical / statistical knowledge.
4. Detailed knowledge of actuarial methods and techniques, and ability to apply them in practice, making reasoned judgements within a business environment.
5. Experience with industry recognised pricing tools, such as Radar, Hx.
6. Knowledge of a range of modelling techniques and applications for pricing.
7. Knowledge and understanding of FCA regulations and understanding of the underlying principles of insurance and reinsurance.
8. Willingness to continue to develop skills and enhance knowledge of any pricing related matters.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Please see our website for more information.

Benefits

• 25 days Annual Leave + bank holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

#BePresent #BeBold #BeCurious