Pricing Analyst

A day in the life

As a Pricing Analyst at ManyPets, your primary responsibilities will involve supporting a variety of projects related to pricing strategy, market analysis, and loss ratio evaluation. You’ll use your expertise in technical modelling to provide actionable insights that drive informed business decisions.

In this role, you’ll work closely with the Market Pricing Manager and Senior Pricing Analyst plus collaborate with teams across Underwriting, Actuarial, Finance, and Marketing. Your focus will be on ensuring that our pricing strategies are aligned with broader business objectives and are based on accurate, data-driven analysis.  You’ll be responsible for gathering and analysing data, preparing reports, and presenting your findings in a clear and concise manner. Additionally, you’ll maintain strong communication channels with stakeholders, ensuring that complex analyses are translated into actionable insights that are easily understood and implemented.

Your role will also involve documenting your work meticulously, capturing all relevant details in our systems, and following up on any associated tasks to ensure they are completed accurately and on time. You’ll engage with internal teams to gather the necessary information and support efforts to address any challenges or questions that arise during the pricing process.

In this position, you will help maintain the integrity of our pricing models and contribute to the continuous improvement of our strategies. Your attention to detail, proactive approach, and ability to work collaboratively will be crucial to your success in this role.

Your responsibilities

• Provide input into rate-setting recommendations, ensuring alignment with business objectives.
• Support pricing activities across both direct and aggregator channels, with a focus on incremental changes and daily trading within aggregator products to achieve growth objectives.
• Assist in the development and refinement of new products and coverages, contributing to the go-to-market strategy to ensure competitive positioning.
• Collaborate with cross-functional teams to ensure that new offerings meet market needs and business goals.
• Engage in market pricing activities, including comprehensive competitor benchmarking, to maintain a competitive edge.
• Assist in the development and refinement of lifetime value and price optimization models to enhance pricing strategies.
• Develop and refine pricing models, including demand and elasticity models, using advanced statistical methods and machine learning techniques such as Generalised Linear Models (GLMs) and Gradient Boosting Machines (GBMs).
• Ensure models are robust, scalable, and aligned with business needs.
• Work closely with the deployment team to ensure the timely and accurate implementation of rate changes.
• Monitor and troubleshoot the deployment process to ensure smooth and efficient execution.
• Collaborate with the data engineering team to ensure the delivery of real-time, high-quality data suitable for actuarial analysis.
• Ensure that data is accurate, relevant, and consistently available for pricing and strategic decision-making.
• Analyze and interpret insights from management information systems, identifying opportunities to enhance reporting and data visibility.
• Take initiative to improve existing reporting frameworks and develop new reports that provide actionable insights.
• Maintain a high standard of quality and accuracy in all outputs, ensuring that pricing decisions are data-driven and reliable.
• Recognise emerging trends within the pet insurance industry and take proactive steps to adjust strategies accordingly.
• Present complex analytical findings in a clear and concise manner to key stakeholders, ensuring that insights lead to actionable business decisions.
• Use strong communication skills to influence business strategies and realize gains from valuable insights.
• Participate in rotation opportunities with risk pricing and reserving analysts to broaden actuarial knowledge and gain diverse experience across different pricing disciplines.
• Apply learnings from rotations to enhance overall pricing strategy and contribute to team knowledge sharing.

Your skills and experience

• You’ll have a background in actuarial or data science with experience applying your analytical and problem-solving skills in a commercial setting, preferably direct or aggregator-led personal lines insurance.
• You love learning, staying current with emerging trends in the insurance / financial services sector. You may be sitting actuarial exams or pursuing other relevant qualifications.
• You’ll have experience using programming languages such as Python, SQL, or R for data analysis and modelling. Experience with pricing software such as Earnix, Akur8 and similar would also be beneficial.
• You can tell a story with data – you can distil and present complex ideas to both technical and non-technical audiences and produce suitable visualisations using tools such as Python, Power BI and Excel.
• Owing to the nature of the role, we will need you to have a degree-level qualification (or equivalent) in Mathematics, Science, Engineering, or a related degree, with a minimum of a 2:1 classification.
• Ideally, you will bring an understanding of the dynamics of personal lines insurance (pet insurance experience an advantage, but not essential).

The interview process

This position has a three-step interview process, which will be held via Zoom.

• Stage 1 – an informal meeting with our People team. We’ll explain more about the role and how your experience matches up with what we need.
• Stage 2 – you’ll meet the Pricing Director and Market Pricing Manager. This will be a longer interview up to an hour and we’ll ask you some technical and competency questions.
• Stage 3 – you’ll meet the Chief Underwriting Officer and the Market Pricing Manager or Pricing Director. We’ll likely set you a short task too, which will form the basis of this meeting.  Don’t worry, we’ll send this in advance and it’ll be a relevant topic to the role!