Price Optimization Specialist

This role offers an exciting opportunity to contribute to the development of outstanding pricing solutions across Commercial Insurance. As a Pricing Analyst, you will be responsible for analysing internal and external data to provide customer insights, working in a dynamic environment, delivering recommendations to varied stakeholders, removing blockages to performance, escalating issues, and looking for ways to improve and simplify processes.

The role will work to deliver the Commercial insurance strategy and execute a program of work focussed on delivering against a dynamic and optimal P&L in the short, medium & long-term using hands-on pricing analysis and modelling. You will have the opportunity to develop pricing frameworks for improved risk selection to achieve business goals, monitor key performance metrics for various pricing factors within designated portfolios, and deliver insights and end-to-end pricing initiatives by working with Pricing, Portfolio, Actuarial, Finance, Claims and Distribution.

You will assist the Senior Pricing Advisors, Pricing Managers & Team members to make required pricing recommendations, implement and monitor them accurately. Additionally, you will provide technical support on model methodologies and their implementation, adopt a customer focus in the delivery of internal /external services, promote innovation through improving current processes and developing new pricing methods and factors, identify, investigate and introduce additional rating factors with the objective of improving product risk and location selection in order to maximise profit, and perform analysis and ensure it is closely aligned to Pricing targets and Portfolio strategy.

• Develop pricing frameworks for improved risk selection to achieve business goals
  
• Monitor key performance metrics for various pricing factors within designated portfolios
  
• Deliver insights and end-to-end pricing initiatives by working with Pricing, Portfolio, Actuarial, Finance, Claims and Distribution
  
• Provide technical support on model methodologies and their implementation
  
• Assist the Senior Pricing Advisors, Pricing Managers & Team members to make required pricing recommendations, implement and monitor them accurately
  

To be successful in this role, you will need to have relevant qualifications in IT, Mathematics, Science, Business or Actuarial Studies field, and 1+ years appropriate industry experience in Insurance, Finance or Statistical Modelling. You must also possess strong analytical skills, problem-solving skills, time management skills, communication skills, and basic knowledge of finance, understanding of key business drivers, with the ability to interpret and analyse reports relevant to area of responsibility.

• Automation focused to improve efficiency
  
• Basic knowledge of finance, understanding of key business drivers, with the ability to interpret and analyse reports relevant to area of responsibility
  
• Analytical skills - ability to develop solutions and courses of action by using an information base to identify key issues, compare with other data and determine cause-effect relationships
  
• Knowledge and experience in using SAS, Excel, R, modelling and other programming languages such as Python, C, VB is advantageous
  
• Problem solving – ability to seek out information and break down problems and situations into simple lists of components. Ability to make decisions, be creative in ambiguous situations
  
• Communication skills - strong ability to convey and explain information, coherently and confidently both oral and written
  

Entry level

Full-time

Analyst

Location: Sydney, New South Wales, Australia