Pricing & Underwriting Manager

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The Role

  • Develop pricing strategies for all of the Society’s product lines in line with the Society’s business plan and long term strategy
  • Manage the Pricing & Underwriting team on a day to day basis, hitting team KPIs for both new business and renewal quotations
  • Work with the actuarial function as required to determine the capital consequences of pricing and underwriting decisions

Principle Accountabilities

  • Manage the annual review of the pricing and benefits on all of the Society’s products, recommending to the Executive team any changes being proposed in line with the Society’s long term strategy, financial experience and competitive considerations amongst others
  • Develop pricing strategies in order to manage the Society’s cash plan claim ratio and manage profitability criteria for other products in line with the business plan and long term strategy
  • Manage the process for pricing bespoke products for clients as needed within required timescales.  These include flexible benefits plans, company paid plans and corporate plans
  • Work with the Head of Business Development and the Retention team to review pricing on scheme renewals.  This includes producing a number of options to clients in advance of the renewal date based on recent claims experience and the budgets of the client
  • Work with IT and the P&U team to manage the development of new and existing pricing spreadsheets for use by the Society’s Sales Team, as well as spreadsheets for use by the P&U team for renewals and plan production (amongst others)
  • Work with the Product Development manager to produce business cases for new products and tenders as appropriate
  • Work with the Product Development manager to maintain Terms & Conditions – recommending changes and working with the P&U team to assess the impact on pricing
  • Develop reports on underwriting risks for the management and Exec / Senior management team
  • Review and annually update the Society’s Pricing & Underwriting strategy and policy
  • Work with the Society’s Actuarial Function to determine possible capital consequences of any pricing decisions
  • Work with the Society’s management team in general to implement the Society’s vision and strategy
  • On occasion help the P&U team with its daily tasks of pricing new and renewals business during busy periods
  • Any other work relating to Pricing & Underwriting of the Society’s current or future products
  • Any other tasks reasonably requested by the Executive team

Contact with Others

Internal

Reporting directly to the Commercial Director, the Pricing & Underwriting Manager will work closely with other departments, especially the Retention and Sales Teams on the renewal process and the Marketing Team for product development.  However, they will also work closely with all managers and employees as required and directed by the Executive team.

External

Product reviews, business cases and other pricing & underwriting work completed by the Pricing & Underwriting Manager will likely be reviewed by members of the Board of Directors, especially those on the Business Development and Investment Committee. In addition, an annual review of the pricing strategy will be carried out by the Actuarial Function.

Experience/skills required

Education – essential
  • 8 GCSE’s (or equivalent) grade A-C including grade B or above in mathematics
  • Educated to degree level 2:2 or above (mathematics, economics/business management or finance related)
Skills – essential
  • IT skills particularly the Microsoft Office suite of products with excellent Excel skills
  • Creative and analytical problem solving
  • Ability to think strategically
  • Experience of managing a small team of both technical and administrative staff
  • Attention to detail
  • Be able to work proactively on own initiative
Skills – desirable
  • A good understanding of pricing & underwriting principles and philosophy
  • Have a strong presence within head office
  • Interact effectively at all levels
  • Excellent communication and facilitation skills, particularly putting technical areas in simple terms
  • Ability to organise and motivate at all levels within the organisation
  • Keen and effective team player
Other

This role is ideal for someone who enjoys the challenge of managing insurance risk, specifically understanding the factors behind claim movements.  They need the ability to understand the technical aspects of pricing (and get hands on with the job from time to time) but also have the ability to manage a team and think strategically.  A mathematical, financial or business background is required and it is essential the candidate has an inquisitive and analytical mind and is willing to train on the job.

Work arrangements

  • Full-time Monday to Friday 37½ hours
  • ½ an hour unpaid lunch break

Benefits

  • Competitive salary
  • Free car parking
  • Free electric hook up for electric cars
  • Corporate membership of the Health Shield medical cash plan after completion of probation (6 months)
  • 25 days annual leave plus bank holidays
  • Free on site gym
  • Free refreshments (tea, coffee, juice etc.)
  • Training and development support
  • Wellbeing initiatives
  • Quarterly on site wellbeing therapy treatments
  • Employee development scheme – staff can get a contribution towards non work related personal development activities
  • Salary sacrifice schemes

This is a permanent full-time role working 37½ hours Monday – Friday.

If you are interested in applying for this post please download an application form or request one by emailing: careers@healthshield.co.uk or by telephoning (01270) 503963.

Closing date: Friday 16th February 2018

We are an equal opportunities employer and welcome applicants from all sections of the community.