The UK personal intermediary market is one of the most competitive and advanced insurance markets in the world and profitable growth of personal lines business forms a key part of AXA UK strategic plans.
At AXA, we recognise the value that strong technical capability can bring which is why we are expanding our personal lines pricing team. You will form part of our continued journey to enhance our pricing sophistication through technology, the technical development of our people and the use of traditional as well as cutting edge, analytic techniques.
One of the key determinants of profit and growth for all personal lines accounts is optimised pricing underpinned by sound analysis and management of risk. Price Optimisation is quite challenging for a Personal Line Intermediary business. In order to be successful in the role, you will demonstrate strong communication and influencing skills. You will implement new and innovative techniques while maintaining the pragmatism to keep delivery on track.
Based in London or Ipswich, in this role you will be using your pricing expertise as well as your programming skills to build and maintain our market pricing optimisation framework and all models that are used within it, as well as building the reporting tools required to communicate the impact of the rate changes.
Within AXA we strive to enable the personal development of our people in a supportive environment. We will offer you a variety of resources and development programs to develop and enhance your existing skills and the opportunity to take your career to new levels of success with the number 1 global insurance brand.
What you will be doing?
- Maintain optimisation framework
- Build models used within the optimisation framework
- Build reports to present and deliver the recommendations
- Support the Optimisation Market Pricing Team
- Consider the impact on customers of pricing actions and act to avoid any unfair treatment
For each of the following areas of activity:
- Conversion modelling
- Retention modelling
- Elasticity modelling
- Researching and Monitoring competitor pricing activity
- Proposing optimisation actions
- Applying optimisation techniques to the portfolio
- Adjusting by channel and transaction type
What will you need?
- Excellent mathematical skills. Degree in a mathematics related discipline or evidence of equivalent proficiency
- Understanding of personal lines products from a pricing perspective
- Understanding of appropriate statistical techniques to build the pricing models an advantage
- Ability to grasp the significance and meaning of a range of technical and complex issues
- Ability to work under pressure and to tight deadlines
- Good programming skills, Python programming skills an advantage
- Knowledge of Machine Learning algorithms
- Knowledge of Pricing software, ideally the Towers Watson suite an advantage
- Experience of price optimisation techniques an advantage
- Good presentation, influencing and persuasiveness skills
What we offer
With a presence in 59 countries, and 160,000 employees serving the needs of 103 million customers, AXA is big. In fact, we’re the world’s number one insurance brand, and one of the Sunday Times Top 25 Best Big Companies to work for. But we’re not too big to care for – or listen to - everyone who works with us. You see, we value your ideas and your experience. We want you to continue to develop and grow, and we’ll offer you all the learning, development and progression opportunities you need for your professional skills and career to flourish.
As you’d expect from a global leader, our reward package is a world-beater – here’s a small selection of our current benefits.