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Commercial Motor Senior Pricing Analyst

  • Ipswich, Suffolk
  • £29,040 - £43,560 per annum
  • 1 application
  • Job type: Permanent, full-time
  • Date:
  • Reference: 22965700
Posted by AXA
Background

As Senior Pricing Analyst, you will be using your expertise to support our underwriting management and Actuarial Team in implementing Commercial Line's Motor’s Pricing strategies, including the development of pricing recommendations to assist in the development of Product level and Key Partner accounts

The key determinant of profit and growth for our commercial motor lines is optimised pricing underpinned by sound analysis and management of risk.

Your responsibility will include analysing and the provision of statistical information on existing Non Fleet products and Partner variants, budgets and reviews, in conjunction with the underwriting development and volume Partnership team. A key part of the role will be analysing data for new propositions and providing analytical reports on potential pricing levels to deliver a profitable development of the proposition.

AXA Commercial Lines & Personal Intermediary is a unique business in the insurance sector and has been created with the needs of our brokers and customers in mind. With separate Divisions for Commercial and Personal Intermediary, Direct & Partnerships, Claims and Underwriting and Bluefin Services, we provide our Brokers and customers with a single integrated service for Insurance solutions and expert advice.



The role

Liaise with Underwriters and Actuarial team to provide a core product technical rate by: utilising internal and market pricing analysis to produce pricing recommendations at Product level to deliver premium income and profitability targets. This includes price optimisation techniques. producing bespoke analytics and pricing recommendations using Partner / distribution channel specific data and pricing capabilities
  • recommending ways of improving and developing pricing and underwriting product structures to meet financial objectives.
  • Assist with setting the underwriting and risk acceptance criteria on Non Fleet CLI Motor accounts
  • Maintain, and where necessary create, standardised robust Product and Partner MI and analysis to enable performance against target to be accurately monitored, and pro-active corrective pricing actions to be implemented when appropriate. This includes externally provisioned Partner MI
  • Contribute to the assessment of new business propositions from intermediaries and partners. This includes identifying and researching business opportunities for new and existing schemes with other relevant departments.
  • Support internal and external audit of underwriting and pricing procedures as required
  • Involvement in projects to develop alternative methods of delivering rates to market.

    Skills, knowledge and behaviour

    Education

    • Either Actuarial (full or part qualified), Statistical/Mathematical Degree (or similar)
    • Or ACII Qualification (or progress toward)

    Knowledge/skills

    • Thorough knowledge of Insurance pricing.
    • Very strong PC skills, particularly Excel, SAS, Access and other database management tools.
    • Good knowledge of developing spreadsheets and databases and statistical techniques used within the insurance and finance industries.
    • Good understanding of UK Motor markets (Direct & Intermediary) across all distribution channels including some knowledge of trends and developments.
    • Knowledge of the underwriting processes across a broad range of Commercial and/or Personal Lines products.
    • Good understanding of General Insurance MI.
    • Ability to work under pressure and to tight deadlines.
    • Ability to interpret and analyse numerical trends.
    • Good communication and interpersonal skills.
    • Ability to work under own initiative within a team environment

    Experience

    • Sound experience of underwriting and pricing across a broad range of Commercial or Personal Lines products.
    • Practical experience of producing detailed analysis for product pricing and product design.
    • Experience of analysing and pricing a significant general portfolio.
    • Practical experience of report writing.
    • Experience of relationship management e.g. brokers, partners an advantage


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