Pricing Projects Principal Analyst

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.

Pricing Projects Principal Analyst

We are always looking for ways to enhance and improve our pricing and we have a whole team dedicated to making everything from fundamental step changes of capability to tactical improvements - all to keep us on the leading edge of pricing. The team is looking for a new joiner, so if you are passionate about delivering innovative analytical projects this could be a great role for you.

The team sits within the wider pricing projects department, reporting into the Pricing Projects Manager. With currently over 20 specialists using tools such as radar, emblem, R and SAS there will be lots of people to learn from and collaborate with. The role covers a diverse range of projects such as evaluating new sources of data, changing our rating algorithm and building new pricing models, primarily across motor, home and other personal lines.

What being a Pricing Projects Principal Analyst involves:

• Analyse and deliver key pricing projects, ensuring project timelines are met and stakeholders are engaged throughout to ensure effective benefit delivery
• Liaise with the wider pricing and underwriting teams to embed new pricing capabilities into a business as usual function.
• Input into recommendations to improve DLG's pricing performance and longer-term pricing capability, whilst maintaining underwriting discipline.
• Work with your manager, provide analytical support to inform business decisions, projects and strategy dependent upon area, acquiring knowledge of all available sources of information to check understanding and ensure robustness of output.
• Understand existing pricing models and ensure their appropriate use and application.
• Strive continuously to improve the logic of the pricing algorithms, ensuring it is relevant for business needs, new developments match to our strategic direction and redundant logic challenged for removal
• Develop solid knowledge of trading performance, monitoring controls and tactical MI used in making recommendations to support trading objectives.
• Deliver specific tasks and projects in a pro-active, timely and accurate manner, providing insights, impacts and recommendations.
• 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.
• Play an active role in the induction and training of new members to the team thus ensuring a personal feel to their integration into the team; act as a first point of contact on technical and process issues.
• Develop skills and knowledge of P&U systems and processes; develop your business and market knowledge and awareness of relevant industry issues which impact your area & incorporate in the work that you do.
• Develop yourself in order to maximise your personal contribution to the team and identify opportunities to gain additional skills, including through secondments and/or rotations.
• Identify, own and manage the risks involved in running our business appropriately to this role, in line with the company risk framework. Communicate to peers and team managers in a timely manner where you have discovered price, model or data issues and suggest appropriate remedial actions.

Skills and qualities you'll need:

• Relevant work experience within a similar insurance pricing or analytical role in the financial services industry and you will be able to evidence personal effectiveness in prior roles
• You will be educated to at least degree level or equivalent in a numerically-focused degree (e.g. mathematics, physics, statistics, actuarial).
• Knowledge of SAS, R, Emblem and/or optimisation software is preferable but not essential.
• You will be an effective communicator at all levels and be able to demonstrate strong relationship management skills.
• You will be a good team player but also be able to use your own initiative and be able to progress work independently.
• Previous experience of the personal lines insurance market is desirable.