12 Apr 2018

Permanent Home New Business Optimisation – Principal Pricing Analyst

Directline Group – Posted by AdminLondon, England, United Kingdom

Job Description

At Direct Line Group, we’re shaping the future. With a mission to make insurance easier and better value for our customers, we embrace change in all its richness and variety. It’s not just what we do; it’s how we do it. We bring our whole selves to work every day and embrace fresh thinking – after all, Britain is constantly changing and to protect the nation, we adapt with it.

Across our diverse brands – including Direct Line, Churchill, Privilege and Green Flag – change takes many forms. We appreciate the knowledge and skills that each one of us brings to the business. It’s hard not to be inspired by the things that make us unique. Boldness, curiosity and enthusiasm go a long way. And they’re helping us transform the industry we lead.

Principal Pricing Analyst – Home New Business Optimisation

The team focusses on price optimisation for Home New Business, across both direct and PCW channels, for our own brands – Direct Line, Churchill and Privilege. By considering market behaviour, price sensitivity, and profitability (on a one year and lifetime basis), we set prices to ensure that key business targets around profit, volume and premium are met.

What being a Principal Pricing Analyst within our Home New Business Optimisation team involves:

  • Build predictive models to predict variables of importance to optimisation. Ensure models validate correctly. Research and develop ways to improve models using new data, features, and techniques.
  • Monitor the effectiveness of models on an ongoing basis to ensure they are fit for purpose and deliver improvements where necessary.
  • Create and maintain Radar optimisation workspaces, integrating new components and models as required.
  • Analyse different pricing scenarios, and recommend the best option to meet business objectives
  • Ensure that price adjustments are correctly implemented into live rating, and work to ensure the process is as quick and efficient as possible
  • Research and develop improvements to the optimisation process, including around lifetime value
  • Utilise and further develop non-traditional optimisation techniques to improve pricing outcomes
  • Propose any rating algorithm changes which may be required to improve optimisation accuracy
  • Work with data teams to ensure that all datasets required for optimisation are fit for purpose
  • Contribute to any P&U or wider business projects which require the use of optimisation techniques or understanding
  • Plan, manage and deliver tasks and projects in a pro-active, timely and accurate manner
  • Produce high quality reports and presentations for internal stakeholders
  • Support the development of more junior analysts; review work, provide feedback and create opportunities for learning in day to day activities.
  • Interact effectively with peers in other areas of DLG to improve knowledge share and understand impacts of your work across the wider business. Ensure learnings are effectively communicated across the team. Liaise regularly with stakeholders to ensure objectives are aligned across functions.
  • Develop knowledge of P&U systems and processes; develop your business, market knowledge and awareness of relevant industry issues which impact your area & incorporate in the work that you do.

Skills & qualities you’ll need:

  • An effective communicator at all levels with strong relationship management and stakeholder engagement skills.
  • A good team player but also able to use your own initiative and progress work independently.
  • Educated to at least degree level or equivalent in a numerically-focussed degree.
  • Strong understanding of Price Optimisation techniques, probably from several years’ experience in market pricing of personal lines insurance
  • Knowledge of optimisation software is preferable. Knowledge of Emblem, SAS and Machine Learning techniques would be helpful.

Career benefits and rewards

Rewarding you is really important to us, as well as offering a competitive salary and generous holiday entitlement; you can take advantage of a wide range of benefits. The best part is you can pick and choose the benefits to suit your own lifestyle, but also pass on some of the savings to family and friends. Here are just a few we have on offer:

  • A competitive salary, benchmarked against our competitors, which will grow as you do.
  • Pension 9% of your base salary, you can choose to contribute less or more than this, and anything you don’t wish to put in to your pension you can take as cash instead!
  • Private medical insurance (anyone can choose this through our flexible benefits scheme, and managers receive this as standard)
  • Attractive holiday entitlement
  • 50% off our Home, Motor and Pet insurance
  • Free Travel insurance
  • Free Green Flag breakdown cover
  • Flexible rewards including Life insurance, income protection, critical illness insurance, personal accident insurance
  • Retail card, with discounts at big name retailers
  • My Discounts – a discounts website for all our employees, with great discounts, cash back savings and offers across hundreds of brilliant  high street brands, travel, tickets, gym memberships and much more.

Who we are
Direct Line Group is an organisation with a clear mission: to make insurance much easier and better value for customers. We are one of the leading motor, home and small business insurers in the UK. We are home to some of the nation’s best-known brands, including Direct Line, Churchill, Privilege, Green Flag and NIG.

Closing Date: Ongoing

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Job Categories: Analyst. Job Types: Permanent. Job Tags: Job. Salary: Competitive.

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