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Junior Risk Pricing Analyst

London, UKCommercial (UK)Permanent (Full-Time)Risk Pricing

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We’re Simply Business

We insure small businesses and enable big dreams – not just for our customers, but for our people and communities too. With over 750,000 active insurance policies, we protect builders, bakers, landlords, and more than 1,000 other trades. 

We harness cutting-edge data ability, believe in experimentation, and build our own technology to deliver better experiences for our customers and employees. This means we’re as much a technology company as one that sells insurance. We build, we fail, we learn, we improve. We’re a B Corp too, which recognises our strong track record of having a positive impact on people, society and the environment.  

If Simply Business sounds like the kind of place you’ll thrive, we’d love to hear from you.

Working here as we get back to normal

After working remotely for so long, we have a vision for how our people will work with each other now and in the future.

Every employee should have the choice and flexibility to work in a way that’s best for their job, their team, and their life.

We know that being together in person is usually the best way to get work done, which is why our offices will become ‘hubs’ that we expect our employees to visit every so often. That said, there’s no one-size-fits all solution, so all of our people and teams will find the rhythm that suits them best.

We need a Junior Risk Pricing Analyst to join us in London

Most insurance businesses have pricing and analytics functions that look into the latest data, and build fantastic tooling to make sure their understanding of insurance costs is at the forefront of decisions. 

Some insurance businesses have pricing and analytics functions that calculate frequency and severity of future losses, as well as truly understanding customer demand. 

Few organisations can leverage these tools to truly transform customer experience, making our insurance valuable to those buying while profitable for both our business and our insurer partners.

As a Junior Risk Pricing Analyst you will:

  • be exposed to a range of exciting opportunities to develop your skills as we look to add sophistication to our pricing models through a mix of traditional and advanced pricing techniques
  • support the wider team by contributing to the delivery of core rate reviews
  • develop and maintain analyses to monitor and improve the existing models
  • support development of pricing recommendations and new pricing concepts that will help in maintaining the MGA’s competitive position without adversely affecting profitability
  • be involved with evaluating new product propositions and give recommendations of the appropriate price position
  • support the underwriting team in footprint reviews, providing recommendations for price changes required or the appropriate price point when moving into new areas

Responsibilities include:

  • monitor and analyse the performance and profile of the MGA’s portfolio
  • identify and monitor market trends
  • make sure adequate tests and controls are in place to prevent rating errors
  • contribute to the production and maintenance of pricing models
  • support the MGA team in understanding the costs of and the customer demand for our products
  • innovate, develop and recommend new and enhanced management information
  • support the Head of Risk Pricing and Risk Pricing Manager
  • participate in internal and external meetings where required

What we’re looking for:

  • a highly numerate and proactive candidate
  • experience of statistics, ideally within an insurance role
  • understanding of pricing software – experience using Earnix or Emblem will be an advantage
  • excellent analytical skills, with the ability to transform data into actionable intelligence
  • experience using SQL, R, and Python will be an advantage, but isn’t required
  • capacity to learn new software tools for data manipulation and statistical modelling
  • self-motivated, with the ability to work on own initiative and to deadlines
  • ability to deal with and influence colleagues at all levels of the business
  • ability to present complex information in a manner suited to the target audience
Our culture is inclusive and diverse

Our mission is to make Simply Business synonymous with fairness, belonging and inclusivity. We won’t be happy until we’ve created a truly inclusive culture – where every employee, whatever their background, role, or location, feels comfortable being their authentic self at work.

We all have a part to play – to learn more, to do more and to go further – in building this new reality that’ll be befitting of the diversity of the customers we serve. At Simply Business, we’re all in.

What are the benefits?

At Simply Business, our benefits let you balance life and work properly:

flexible parental leave – you can choose to take shared parental leave, plus we offer full pay for the first six months of your maternity leave and four-week fully paid paternity leave, subject to meeting the qualifying criteria
remote working – more of us are currently working remotely than usual, but longer-term you can balance working remotely with working in the office, giving you the opportunity to connect with colleagues
mental health and wellbeing resources – we take your wellbeing seriously, giving you access to counselling (through our Employee Assistance Programme) as well as technology to support your mental health (through the Unmind app)
paid sabbatical – two weeks off when you’ve been here for five years and four weeks off when you’ve been here for 10 years
a dedicated learning platform – including a management and leadership programme – the platform lets you balance both work and life goals

And we compensate you fairly:

• a competitive salary that reflects your experience, our pay policy and the market we’re in from your first day
• the potential to earn an annual bonus based on business performance (those on commission-led roles will be rewarded monthly)
• we match what you put into your pension up to five per cent
• a health cash plan reimburses your everyday medical expenses (with the opportunity to increase the level of your plan in your flexible benefits)
• a generous holiday entitlement of 25 days annual leave, plus bank holidays
life assurance of four times of your basic salary
Smart Health services including unlimited access to a 24/7 virtual GP
• a flexible benefits scheme with an allocated allowance each year to choose from benefits including private medical insurance, dental insurance, travel insurance, up to five days extra holiday, and gym membership

These values are important to us and our people
- Learning
- Empowerment
- Authenticity
- Pioneering
- Simplicity

These all mean something unique to every person at Simply Business, but if you’re thinking about working here, give them some thought. They’re at the heart of our story.

Brexit Statement:

Following the UK's exit from the European Union, there are changes to Legal Right to Work legislation that applicants from the EU will need to be aware of.

Before 30th June 2021, EU/EEA/Swiss citizens have a legal right to work in the UK and can provide a passport as evidence of this.  No visa will be required.

From 30th June 2021, EU citizens will be required to provide evidence of settled or pre-settled status in the UK as evidence of right to work.  Without this, EU citizens will require a visa to work in the UK.
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© Copyright 2021 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.