We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.
We currently have an exciting opportunity for a Technical Pricing Lead to join our Pricing and Analytics team in Haywards Heath, West Sussex or Salford Quays, Manchester.
You will lead the team that creates and updates highly predictive burning cost models by managing a programme of rating structure design, data enrichment, model technique progression and iterative enhancements. You will also engage with the wider business to ensure trends and operational changes are reflected in prices.
- Responsible for designing future-proofed rating structures using WTW Radar software that are optimally structured to host technical price calculations (eg peril splits, cover splits and rating factor granularity, etc)
- Specify data mapping requirements from PCW and direct websites to enable market-leading technical price calculation
- Engage with product development team to design policy coverage/limits that are advantageous to competitive PCW pricing
- Appraise external geographic dataset providers and provide recommendations on partnering decisions
- Design automated processes for geographic concentration risk control
- Collaborate with retail pricing team to establish technical price models from available external data sources and harnessing prior knowledge (eg rating factor loads/discounts, peril proportions, etc)
- Collaborate with claims team to establish working assumptions regarding average frequency and severity of claims per peril
- Collaborate with underwriting colleagues to establish decline rules and protective pricing loads
- Check and reconcile new data pipelines and validate they are fit for purpose
- Design relevant MI for account management
- In collaboration with retail pricing, monitor sales mix, iterate prices to manage concentration risk and propose with reason that changes are either technical pricing or retail pricing actions
- Establish and lead a team of analysts to analyse emerging exposure and claims, and to build burning cost models
- Responsible for monitoring emerging claims experience by peril and by factor, and lead a programme of technical pricing model refinement
- Establish a programme of continuous improvement in burning cost modelling and data enrichment reflecting emerging technology and claims trends
- Engage with reinsurance purchasing process and optimise competitive footprint for programme efficiency
- Comply with the requirements, and act in accordance with, the Group Code of Conduct and Fitness and Propriety policies at all times
- Ensure compliance with Company Policies, Values and guidelines and other relevant standards/ regulations at all times
- Any other reasonable duties
Experience & knowledge
- Strong abilities in WTW Radar from a similar working environment
- Deep understanding of rating structure best practice and data mapping optimisation
- Contemporary, hands-on experience of building GLMs, and ideally GBMs too
- Familiarity with third party providers of credit and geo risk data
- Able to create, clearly structure and maintain documentation of models and decisions
- Appreciation of commercial realities of insurance
- Appreciation of claims processes and conduct risks
- Statistical credibility and risk management mindset
- Clear vision for MI design and optimal use
- Appreciation of importance of attention to detail
- Strong technical leader, able to recruit and develop a strong team
- Good communication skills, both verbal and written
- Good time management and organisation skills
- Self-motivated and enthusiastic
- An organised and proactive approach
- Ability to work on own initiative and as part of a team
- A flexible approach and positive attitude
- Strives to drive business improvements to contribute to the success of the business
What can we do for you?
We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…
Fantastic training and development opportunities
Employee benefit packages to suit your lifestyle
YOUday – we give you an extra day off to celebrate a special day
The opportunity to take a paid day off each year to do charity work
A health cash plan
Help with travel expenses
The opportunity to buy additional holiday
Company pension scheme
Group life assurance
Enhanced maternity and paternity pay
Professional subscription fees paid
Employee wellbeing is high on the agenda here too. We provide a weekly free fruit delivery, discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.
For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Recruitment team.
If you’d like to work for an award-winning employer in a fast-paced environment, apply now!
Want to know what it’s really like to work at First Central? Take a look at our Glassdoor reviews.
We’re happy to discuss flexible working during the recruitment process .