Market & Pricing Analyst - Personal Line

Job Description

Your role will be to:

develop, coach and manage a team of analysts who will execute a profitable growth strategy for Private Car and Household product lines in both the broker and direct distribution channels through market, pricing, coverage, claims, expense and production analyses. Support new product development for both Private Car and Household lines & related IT business and testing requirements. Maintain and update product underwriting criteria and rate/product change history and results impact. Serve as the key liaison for third party data/service providers for the underwriting and rating process for Personal lines business.<

Prepare growth and profit analyses and present key findings to senior management. Participate in discussions regarding strategy. Communicate and negotiate with legal, I.T., sales & marketing and claim depts. Execute strategy to improve profitability of the business.

Roles/Responsibilities

Analyze pricing adequacy across risk profile segments. Monitor market performance; recommend adjustments. Monitor expense control, specifically with third party data/service providers. Analyze and interpret market / competitor rates, production results, claims experience, and industry trends. Prepare 'what-if' scenario analyses for production and profitability. Analyze and research legislation and regulations. Lead new product development related efforts such as new product coverage features, I.T. business requirements and testing. Research and respond to product questions and inquiries. Create, implement and test business specs. & data integrity/quality by working with I.T. units. Work with actuarial, finance, legal, I.T., sales and marketing, compliance and claim departments to ensure comprehensive Personal Lines insurance 'market picture'. Training, Development and Performance Management of individual team members.

Skills/Experience

• Typically 5+ years experience in a similar role (at a similar level) in a Private Car/Household Insurance Team.
  
• Experience of leading a team of more junior staff, managing performance, coaching/training is essential.
  
• Solid understanding of competitive analysis tools. Able to extract and analyze competitive data is essential.
  
• Understanding of basic insurance ratemaking and its application, such as profitability, risk loads, etc would be a distinct advantage.
  
• Solid understanding of techniques and models used to forecast insurance financials. Provides forecasts as needed.
  
• Working knowledge of PL underwriting, pricing, coverage, systems and compliance. Basic understanding of regulatory environment. Strong PC skills,

Education / Professional Qualifications

• Degree in Business/Finance/ Insurance (or similar) would be advantageous.

Personal Attributes