Pricing Manager

Admiral has always considered our Pricing department to be a fundamental cornerstone of the successful growth of our business. As the market continues to evolve and we continue to develop the way we work, we are looking for driven, skilled, and experienced Pricing Managers to join us. We have opportunities available in;

• Car Retail Pricing
• Car Risk Pricing
• Van Pricing 
• Cross-Product Pricing 

Car Retail Pricing

The focused Car Retail Pricing team is relatively new, and we’re looking for a Pricing Manager to support the establishment of this new team in a critical part of the business and to help set and drive the strategy of our Retail Pricing. Within this role, you would be exposed to a variety of work, ranging from highly complex numerical analysis to high-level decision making that impacts strategy and direction, in all areas of pricing outside of the assessment of claims risk.

The Retail Pricing team is responsible for a variety of topics, from understanding the market and our competitivity at new business, through to our specific renewal pricing, focussing on elements of pricing outside of claims risk prediction. 

The teamwork closely with other areas of the business to support the development of new products and offerings and to increase the profitability of the risks we write across all income streams.

Car Risk Pricing

The Car Risk Pricing team is responsible for calculating the price we charge to cover the risk of a customer making a claim in the future. We use data supplied to us by the customer and numerous internal and external data sources to set the most accurate price possible. We are constantly looking for ways to optimise our prices either through using new data or by maximising the use of existing data.

Van Pricing 

Despite its impressive growth and progress since its launch in 2017, Admiral Van has very ambitious plans to grow further and is looking for a Pricing Manager to support our growth. The Van Pricing team is responsible for all aspects of setting the prices for our Van customers. This requires us to understand and consider a variety of topics, such as claims risk and profitability, combined with an awareness of the wider Van market in order to support the Van product in continued strong and profitable growth. 

Cross-Product Pricing 

The Cross-Product Pricing team is responsible for pricing work that spans across all the Admiral products (Motor, Home, and Travel, etc.) and provides an excellent opportunity to learn about multiple pricing disciplines. An exciting opportunity has arisen for a Pricing Manager within the team. This role will support management in establishing and embedding the team, tackling some of the more complex analysis work. The successful candidate will have line management responsibility for Pricing Analysts. The role also requires having strong communication and collaboration with Data Protection and IT teams.

Main Responsibilities for all Pricing roles

• Demonstrate strong technical knowledge of our internally developed analytical tools, cloud-based data platforms, and software to enable you to effectively drive forward the implementation of Pricing initiatives. 
• Take responsibility for the quality and direction of complex analytical work carried out within your team which could include projects such as lifetime value, price elasticity, etc
• Ensure that we are making optimal use of external data sources available to us in relation to market prices
• Communicating results and ideas to key decision-makers across different group companies, including Heads of Department and CEO/COO
• Management and development of analysts within the team, including the development of senior analysts’ management and technical skills
• Develop strong relationships with colleagues, both within the department as well as the wider business, to ensure successful delivery of projects that involve cross-departmental cooperation and collaboration
• Support and collaborate on a range of strategic projects that have the potential to change the way Pricing operates in the future
• Set standards for training and ensuring that the function is sufficiently skilled to meet our requirements, both now and in the future
• Maintain an outward-looking perspective and act internally as a valuable source of outside information, sharing your expertise and ensuring that Admiral remains up to date with changes in the field of Pricing
• Help drive and support the Company’s response to the Pricing Remedy recently announced by the FCA and the consequential market changes
• Retain awareness of any regulatory developments likely to impact Pricing, which will require close working relationships with Corporate Governance teams and other areas of Pricing

This is not a full definition of the roles but covers the main aspects and drivers for success.

About You

We are looking for a creative, innovative, and ambitious individuals, with experience in Pricing within a UK general insurance company, who have a track record of finding insight in data, can take ownership for driving forward change, and have a passion for sharing knowledge and experience with colleagues, both at a peer level and in a managerial role.

You must be highly numerate and have a passion for tackling complex problems relating to financial modelling and interpreting the results of various analytical tests and processes. You should be comfortable with getting stuck in and diving into the detail of the analysis work, whilst also being able to support the team in fulfilling their potential.

Essential Skills and Experience

• Experience in Pricing within a UK general insurance company in a Senior or Management capacity 
• Strong quantitative skills and a strategic mindset, as demonstrated by previous experience (this could be in consulting, strategic project management or analysis, working with senior managers, etc.)
• Proactive and creative approach to taking initiative and getting things done
• Team player who can build relationships across functions
• Excellent interpersonal and communication skills and an ability to inspire and influence others

Desirable Skills and Experience

• Previous experience in insurance is not necessary, as you will be able to acquire the relevant technical skills on the job (a willingness to work from the ground up is however essential)
• An interest in data science or big data technologies and some experience in these areas may be considered an advantage but are not mandatory

Additional Information

Reporting to
In this role, you will work closely with our whole Pricing leadership team and report to one of our Pricing Department Heads. 

Development and progression
We’re a big believer in personal development and preparing you for success in this role as well as your next. We’ll provide a range of on-the-job training as well as other opportunities to learn all the key skills you’ll need. There is fantastic opportunity for progression and development from this role, presenting opportunity to speedily progress your career within Pricing at Admiral.

Working Arrangements 
Due to COVID, the whole Pricing team is working remotely. We will provide you with everything you need to work comfortably from home. We expect you to be working remotely for the foreseeable future. However, once it is safe to return to the office, we will have days when the whole team comes together to collaborate. You can decide if you want to come to the office between 2-5 days per week.

Department
If you would like to find out more about the opportunities and why you should join our Pricing department at Admiral, take a look at Admiral Life where you will find exciting and interesting testimonials from our Pricing colleagues. You can also discover some more information on our Pricing and Advanced Analytics life section on LinkedIn.

Salary, Benefits and Work-Life Balance
We do not have a set salary for this position, as it will be dependent on the successful candidate’s experience. We are happy to see CVs from all candidates who meet the requirements and will be happy to discuss the remuneration package.

As the only FTSE 100 Company headquartered in Wales and ranked one of the best big companies to work for by the Sunday Times, Admiral is an exciting place to take your career. We are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure colleagues have a great work-life balance; it's one of the reasons we are proudly the only company to have been named one of the Best Companies to Work For every year since 2001. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.

You can also view some of our other key benefits here; https://admiraljobs.co.uk/employee-benefits/.

Please note, we are unable to accept CVs via email. If you would like to apply for the position, please click "Apply".

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