Travel Insurance Pricing Manager
About the job
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Admiral has always considered its Pricing department to be a fundamental cornerstone of the successful growth of our business. A new, rare and exciting opportunity has arisen to be part of our New Products team to support the strategy, design, and implementation of newly launched or yet-to-be-launched insurance products such as Travel Insurance and Pet Insurance. The successful candidate will have the opportunity to lead a team of Data Analysts and Data Scientists to design and implement the pricing strategy for Travel Insurance, along with supporting other new products such as Pet Insurance.
We are looking for an ambitious individual with either of the following:
- Experience in successfully pricing insurance whilst working as a Senior Analyst or Manager at a recognised insurance underwriter
- MBA, PHD or an advanced degree in a numerate field
This role would be suited to someone who is highly analytical and able to come up with new insights to improve performance, enjoys solving complex problems across numerical and technological domains, and can support a team of analysts in fulfilling their potential.
As a Pricing Manager, you will be responsible for setting up, reviewing, and improving the pricing structure on an ongoing basis, and taking initiatives to improve performance on important KPIs. You will also be responsible for taking ownership of pricing projects and moving them forward for implementation by successfully liaising and collaborating with IT, Pricing Governance, and other relevant departments.
The successful candidate will collaborate closely with Heads of Pricing of other Admiral products, including UK-based Motor, Home, and Pet Insurance to enhance collaboration across different products to drive MultiCover sales and performance, and for sharing pricing best practices across all products.
This is a leadership role fit for someone looking for a wide variety of responsibilities and ownership. Eventually, you will be expected to lead the Pricing function for Travel Insurance or similar, however, your main responsibilities will include:
- Recruiting, training, managing, and supporting a team of Pricing Analysts to review pricing structure for improvements and to report on the Pricing KPIs on an ongoing basis
- Taking responsibility for the quality and direction of complex numerical work carried out within your team to improve the sales and loss ratio
- Communicating results and ideas to decision-makers across Admiral UK insurance including CEO/COO/CFO
- Exploring new avenues of rating through finding new and innovative ways to rate on existing data and enhancing the rating structure through new external data sources
- Exploring the potential of data science algorithms, machine learning, and analytics models for insurance pricing and leading the effort to implement them
- Liaising with internal and external IT teams to design and implement the software enhancements needed for Pricing
- Liaising with Motor, Household and Pet Pricing departments for collaboration and cross-product learning
- Liaising with Compliance and Governance to ensure pricing changes are compliant with the FCA and ABI guidelines
- Constant monitoring of the external environment for changing consumer trends and compliance requirements to ensure our Pricing is constantly improved
This is not a full definition of the role but covers the main aspects and drivers for success.
Skills & Experience
- Experience working as an Underwriting/Pricing Analyst or Manager for a recognised insurance underwriter OR MBA, PHD or an advanced degree in a numerate field with a strong analytical ability
- Experience with data analysis tools such as SAS or SQL and a willingness to use them to get results is preferred
- Highly numerate with excellent attention to detail
- Ability to maintain data accuracy within a demanding environment
- Able to manage own workload effectively to meet deadlines
- Resilient character and excellent interpersonal skills with the ability to build relationships with colleagues from different departments and effectively negotiate and collaborate with key stakeholders
- Effective at written and verbal communication and able to lead meetings on technical and complex matters
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.
At Admiral, we are proud to be a diverse business where we put our people and customers first. We have great benefits to ensure employees have a great work-life balance; it's one of the reasons we're voted as one of the Sunday Times Best Big Companies to Work For in the UK. We want you to have an element of freedom to define a working lifestyle that supports this, so accommodate flexible hours wherever possible.
Please note, we are unable to accept CVs via email.
Please note, we are not accepting CV’s from agencies for this role. Agencies on our PSL should only send CVs if asked to do so by the Recruitment team.
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On the 8th of November, our very own Admiral Academy hosted their 5th International Learning and Development (L&D) Conference. Over 150 training professionals came together from all corners of the business to collaborate, share best practise, network and most importantly celebrate success. The day kicked off with the amazing Admiral Inspire Choir and an opening speech from Head of People Services and Head of Learning and Development. David Stevens (CEO) also recorded a personal thank you message to attendees for their efforts in winning the L&D Award at the Best Big Companies to Work for Awards this year!The day included a whole host of talks from managers around the business, with keynote speaker Garan Pieniazek who gave an inspiring talk. The day also incuded talks from our ILM 7 Graduates and Working Groups who have worked incredibly hard throughout the year to deliver current content at this year’s conference.The second part of the day was recognising staff in the business who made a real impact within the learning and development community over the last year.Award Winners from this year’s conference are;Getting To Know Your Learners – Holly: Admiral AcademyDriving Performance – Deepshika: Customer ServiceGuardian of The Culture – Daniel: Admiral AcademyHighly Commended - Excellence in Learning and Development – New BusinessWinner - Excellence in Learning and Development - RenewalsThe L&D Conference and Awards highlights the incredible work of training professionals throughout the business and truly make a difference to the business and staff. Thank you to all and a huge well done!
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We understand that balancing the demands of a family and a career can be challenging at times. Taking time off work to be with your new family is very important and we recognise that many fathers, partners and adopters want to be more hands on and involved with the care of their children. We are committed to supporting our staff when they go through parenthood and a valued source of support is provided by our Parental Leave policies. The policies allow staff to spend cherished time at home with their family, so that when they return to work, they can thrive and flourish. Our policies go above the statutory pay requirements to encourage our staff to take more time at home when they become parents. As long as you've worked for us for 26 weeks, you can expect the following benefits. Maternity LeaveEmployees receive 16 weeks of full pay, followed by 23 weeks statutory maternity payPaternity LeaveEmployees receive 2 weeks full pay, 2 weeks statutory paternity pay and 12 days of unpaid leave (should they wish to take it)Shared Parental LeaveWhen both parents work for Admiral they can share the 16-weeks full pay benefit. So, if the mother/primary caregiver decides to return to work prior to 16 weeks, the other parent can pick up the remaining weeks on full payIf one parent is employed by Admiral, and together with their partner fulfil eligibility criteria, they can share the Parental LeaveAdmiral believes that the support doesn’t stop at Parental Leave. We recognise that flexible working is another valuable way in which our staff can attain the work-life balance they need and so employees can request flexible working arrangements.Our employee benefits don’t stop here, take a look at our top 7 perks for working at Admiral.
As one of our four pillars to our culture, Reward and Recognition is extremely important. We believe that happy staff make happy customers, so we have a huge range of great benefits to make sure everybody has something to smile about! Here are a few of our more popular ones.