Junior Pricing Analyst

at  Markel Corporation

Are you looking to further develop your career as a Junior Pricing Analyst?
What part will you play? If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers. We’re always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs.
Join us and play your part in something special!
Meet Markel:
At Markel, we believe that what we do really matters. And that every one of us has the power to make a difference. To us, insurance is more than a piece of paper. It’s a promise to help people get back on their feet. It’s a commitment that gives people the courage to take chances. And in uncertain times, it’s the fuel that moves the world forward.
Since the very start, we’ve used our ingenuity to insure risks that others can’t. Finding smart solutions to complex problems, so people can live their lives and seize opportunities.
Our style is about focussing on people’s needs, not just words on a page. It’s about building relationships and connecting as humans. And ultimately, it’s about being there for people when they need us most.
In our eyes, our journey is just beginning. Together, we’re building a business that supports more people, in more places. But unlike our peers, we’ll never lose our people-first focus as we grow. Because you will always be what makes Markel special. And what continues to power this business forward.
Markel Group (NYSE – MKL) is a fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory and investment operations around the world.
Find out more by visiting our websites:
www.markel.com/insurance/international
About the team:
Markel International operates in the Wholesale insurance market, via the Lloyd’s platform in London, as well as in Commercial SME markets through the National Markets (‘NM’) division, with offices across the UK, Canada, and Europe. The NM Analytics team works across the entire NM division and is a multi-disciplinary team consisting of data scientists, data engineers and actuaries.
The team is embedded within the business and works closely on a day-to-day basis with expert underwriters, claims handlers, finance, actuarial, sales, operations, and management. This close interaction is key to delivering detailed solutions quickly, to the people that need them.
The team is organised into three pillars: Data Science & Engineering, Portfolio Management and Technical Pricing. The role of the Technical Pricing team is to support the underwriting of profitable business across National Markets, as we seek to be the best Specialty insurer in each our markets, offering relevance and ease of trading to our customers and distribution partners.
This newly created role sits in the Technical Pricing pillar and reports to the Lead Pricing Expert for NM, with the ultimate reporting line via the Managing Director for National Markets. Specifically, the role will focus on supporting diverse product lines across NM to drive our growth ambitions to 2030, whilst maintaining underwriting profitability.
The NM Analytics team has strong a track record in cloud data engineering and data science. The team will support you with the creation and implementation of data pipelines and data models, ensuring the highest standard in data quality, integrity, and governance, as we seek to minimise time spent on data cleaning and preparation. However, some data wrangling skills, along with knowledge of Python and SQL, are required for this role, as we endeavour to build reproducible data and model workflows using leading cloud technology.
Working together to achieve this will allow you to focus on the key day-to-day tasks, including assisting with individual risk pricing, development and maintenance of pricing models, portfolio modelling, profitability analysis and the production of management information across the business. You will work to analyse our ever-developing data, telling the story and delivering insights from our emerging experience to key stakeholders such as the reserving team, finance, and management.
A solid understanding of statistics is key; the candidate could have a background in statistics, actuarial science, or data science for example. As we expand our business, we look to continuously improve upon our existing pricing methodologies. A desire to investigate new technologies and modelling techniques will be an advantage for this role.
What we ask of you:
The candidate will support both the NM Lead Pricing Expert and the local offices through working on the following:

Pricing

• Assist in the pricing of specific risks according to Markel underwriting guidelines, and support underwriting strategy across NM.
• Review rates and assumptions on selected product lines as requested by underwriters and management.
• Maintain and develop new and existing rating engines, including exploring new rating factors and producing technical documentation on the rating tools.
• Researching and proposing new pricing techniques and methodologies, continuously seeking to improve the quality of the Technical Pricing output.
• Work with claims handlers to understand our claims experience and how this impacts our premium rating.
• Work with underwriters on new product development, actively build relationships with underwriters and seek areas where the data led analysis can add value.
• Assist in compliance with all other regulatory and audit requirements, including internal underwriting guidelines, audit actions, as well as with external bodies such as the Faculty & Institute of Actuaries, CAS, external auditors.

Data & Analytics

• Assessing and improving the data quality produced by the local offices for use by central functions.
• Researching & implementing solutions to improve the data & analytics capabilities across NM.
• Working with data scientists and data engineers to develop data pipelines and automated workflows.
• Staying up to date with the latest techniques applicable to our business.

Profitability | Portfolio Analysis

• Work closely with the portfolio management team, providing insights and data to assist in the production of key metrics to enable data driven decision making.
• Provide analysis for management to assist them in formulating their strategy on specific lines of business.
• Produce regular reports on key pricing metrics, e.g. technical ratio and rate change. Liaising with underwriters and reporting on any trends or observations.

What you will bring to the role:

The successful candidate will:

• Have knowledge of SQL and Python. Experience in creating and running code and analysis in Notebooks is an advantage.
• Experience of using the Azure and Databricks platform is an advantage.
• Have knowledge of standard software tools, such as Microsoft Office (Excel, Word, PowerPoint).
• Be comfortable in asking for help, enjoy sharing their expertise, and be excited to learn from their colleagues.
• Will display excellent analytical and decision-making skills, and the ability to communicate technical concepts to both technical and non-technical audience.
• Experience of commercial lines pricing is an advantage
• Actively keep knowledge and skills up to date through courses and seminars (study support will be available).
• Be fluent in English, other European languages are an advantage.

Our values:

We’re all about people:

• Empowering them, supporting them, and helping protect what matters most to them
• We put people first, and stay true to our word, because we believe in the power of relationships and doing what’s right

We win together:

• We work as a team, exchanging ideas, supporting each other, and respecting everyone’s opinion
• Because together we know we can achieve great things

We strive for better:

• We aspire to lead and win in all that we do
• Aiming for excellence, and finding a better way of doing things, is up to us all

We enjoy the everyday:

• We are dedicated to our work, but we always keep a sense of humour and leave our egos at the door

We think further:

• We are committed to building a legacy and making decisions that leave a lasting impact on our customers, partners, employees, and communities

Markel celebrates the value of a diverse workforce that brings experience and expertise from a wide variety of backgrounds and life circumstances. Whatever your background, if you feel you meet the requirements of this role then we want to hear from you. We are also supportive of candidates looking for flexible working patterns.
For application information please visit our
careers page
.
We are a Disability Confident Committed employer which means we want to ensure that you have a positive experience applying for a role at Markel and are able to perform at your best. If there are any adjustments we can reasonably make to ensure that the process is accessible for you at every stage please telephone us on +44 (0)20 7953 6000 or email
rec@markel.com
.

Please refer the Job description for details