Head of Technical Pricing

Overview

We’re looking for a Head of Technical Pricing to lead the Technical Pricing Team and drive the implementation of the group’s strategic initiatives to support growth and maximise profitability of the business.

Responsibilities

• Lead the development and implementation of the technical insurance pricing strategy, shaping the data enrichment policy in collaboration with the Pricing Innovation and Product Development teams.
• Ensure technical rates are set at appropriate levels to deliver against budget and re‑forecasts.
• Lead the team responsible for ensuring product line profitability aligns with plans while managing risks within appetite.
• Provide oversight of burn cost models and responsibility for their accuracy, including research, development and implementation of new models and improvement of existing ones.
• Drive a programme of rating structure design, data enrichment, model technique progression and iterative enhancements, using business and industry insight to ensure pricing reflects operational realities and environmental risks.
• Design processes to ensure sales mix is monitored and prices are iterated to manage risk and propose with reason that changes are either technical pricing or retail pricing actions.
• Be an expert in external dataset providers and provide recommendations on partnering decisions.
• Collaborate with senior stakeholders to agree on geographic concentration risk controls and design implementation solutions.
• Collaborate with underwriting colleagues to establish decline rules and protective pricing loads, and ensure footprint and competitiveness expansion are well controlled and monitored.
• Develop the team to harness expertise to analyse emerging exposure and claims, and to build burning cost models from internal and external data sources.
• Lead, motivate and develop the Technical Pricing Team, and define the framework for the team’s goals and objectives.
• Communicate to the wider business insights on emerging claims experience by peril and by factor, and lead a programme of technical pricing model refinement.
• Collaborate with claims teams to establish future‑proofed assumptions for frequency and severity of claims per peril.
• Establish a programme of continuous improvement in burning cost modelling and data enrichment reflecting emerging technology and claims trends.
• Advise the Retail Pricing team on opportunities/risks to achieve commercially optimised prices.
• Engage in the reinsurance purchasing process and optimise competitive footprint for programme efficiency.
• Provide guidance and instructions to Tech/Data colleagues on solution design.
• Maintain department risk registers, providing evidence and commentary for controls, updates for mitigation actions and maintaining control matrices and attestations.
• Manage risks and ensure that employees are aware of their responsibility to identify and report risk.
• Comply with the Group Code of Conduct and Fitness and Propriety policies, Company Policies, Values and guidelines, and other relevant standards and regulations, including the Senior Managers Certification Regime (SMCR) Conduct Rules.

Qualifications & Skills

• Deep understanding of rating structure best practice and data mapping optimisation.
• Track record of influencing strategic management of a personal lines portfolio.
• Excellent communication skills when presenting technical topics to a wide audience.
• Strong abilities in WTW Radar from a similar working environment.
• Familiarity with third‑party providers of credit and geo‑risk data.
• Able to create, clearly structure and maintain documentation of models and decisions.
• Contemporary, hands‑on experience of insurance price modelling.
• Strong technical leader, able to recruit and develop a strong team.
• Proactive management and maintenance of roadmap of projects and assessment of timelines.
• Capable negotiator to achieve best outcomes for the company.
• Good time‑management and organisational skills.
• Statistical credibility and risk‑management mindset.
• Clear vision for MI design and optimal use.
• Appreciation of importance of attention to detail.
• Self‑motivated and enthusiastic, flexible approach and positive attitude.
• Strong behavioural qualities: drive business improvements to contribute to the success of the business.

This role is Certified in line with the Senior Managers and Certification Regime (SMCR).

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