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Technical Pricing Modelling Manager

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Req ID:
R-12266
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Category:
Actuarial
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Location:
Bromley; Leeds

About us

Direct Line Group is a results-oriented company employing thousands of people throughout the UK. We’re proud to be one of Britain's leading general insurers, offering millions of customers decades of experience and knowledge.

In the history of modern insurance, there has never been a bigger time for change than now, and we work hard to make sure our well-known brands –Direct Line, Churchill, Privilege, NIG and Green Flag are making insurance easier and better value for our customers. We know we can’t do this without our phenomenal people who we reward for ideas and thinking as well as results because that’s how we can achieve amazing things.

Commercial Lines is an increasingly meaningful part of Direct Line Group’s success story, making up a significant contribution to group's total operating profit. Going forward, there are ambitious plans to deliver further performance improvements via a pricing transformation program that entails using improved risk, geo and demand models, having an improved data infrastructure, and having access to an advanced suite of analytical tools.

What we’re looking for

This is an exciting career opportunity to support the Head of Pricing Development in delivering technical pricing models for all Commercial Lines products. You will assist in delivering and planning all model recommendations and their resultant utilisation in the wider pricing teams as well as actively contributing to the longer-term pricing strategy and technical training of the wider Commercial team.

Key Accountabilities

  • Take ownership of delivery of technical pricing models (risk and demand) from data, model building to sign-off for all commercial products.

  • Manage day-to-day modelling project targets and ensure timely delivery of models

  • Liaise with a wide variety of teams to shape and deliver your teams pricing/ modelling strategy, working effectively with data team, wider pricing and underwriting teams and other areas

  • Lead and take ownership of technical model signoffs in Model Governance Board and associated stakeholder management

  • Set up and manage monitoring of technical risk models and suggest corrective action in models based on emerging trends and model performance

  • Develop a framework for non-GLM modelling techniques in Commercial P&U including criteria for sign-off, alignment with central Model Governance Board and adoption of industry wide best practice.

  • Proactively investigate areas in P&U where modern modelling techniques can be utilised to solve business problems

  • Strive continuously to improve the statistical validity and efficiency of all modelling, projection processes and techniques.

  • Ensure compliance with core Direct Line Group Policies, statutory and regulatory requirements, governance controls (including all relevant risk minimum standards) and timely completion of risk and audit actions. Ensure reputational risk is minimised.

  • Take ownership of technical/non-technical training and development program for the modelling team

What are we looking for

  • General knowhow of insurance pricing and underwriting practices within direct and intermediary space

  • Ability to present modelling inference and statistical findings in layman terms to a wide range of stakeholders including, but not limited to Pricing and Underwriting personnel

  • Prior experience of statistical modelling

  • Working knowledge of various cloud data technologies and cloud platforms particularly in the context of data science and machine learning

  • Knowledge of machine learning models using R/Python or other platforms - particularly Random Forest, Decision Trees, GBMs etc.

  • Knowledge of Alteryx, Tableau and SQL and model implementation framework through PMML etc. will be beneficial

Working in a way that works for you

Here at Direct Line Group, we recognise the importance of flexibility, not only in our personal lives but also in the way we work. Our mixed model way of working offers a 'best of both worlds' approach combining the best parts of home and office-working, offering flexibility for everyone.

We’ve ditched the daily commute for a virtual first approach. If you do come into the office, there are exciting workspaces and zones you can use, depending on the type of work you are doing.

How much you’ll be in the office depends on your role, and we’ll consider the flexible working options that work best for you. Please get in touch with the team to discuss!

#L1-SM2

#LI-Hybrid

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