We are looking for a Pricing Analyst to join our team. The varied role will focus on Household line of business but with the potential to work on a number of new products. You will be responsible for reviewing the performance of existing accounts and proposing to the relevant distribution channels retail prices to maximise profitability and competitiveness.

This position provides an exciting opportunity to join Legal and General Insurance's Pricing team. The role will primarily focus on the Household line of business but with the potential to work on a number of recently launched or soon to be launched new products.

• Review the performance of existing accounts and propose to the relevant distribution channels retail prices at which to sell general insurance products in order to maximise profitability and competitiveness, in accordance with Legal & General’s Insurance Risk Policy and reflecting the needs and expectations of customers aligned to the Customer Experience and TCF Policy. Present to the Insurance Pricing Forums as required.
• Develop and maintain product pricing for prospective new products and new business tenders, working with the distribution channel and business partner/agent as needed.
• In conjunction with the Research & Development function, manage periodic risk rate analyses, investigate new techniques and sources of data that will improve risk selection, retention and new business conversion, and hence profitability.
• Maintain systems to monitor the performance of accounts in terms of business flow, claims experience at a detailed level, and competitor prices. Pro-actively monitor account performance, bringing significant trends or features to the attention of the distribution channel Pricing Manager.
• Maintain appropriate documentation supporting the account management/pricing procedures, analyses, decisions, processes and controls.
• Ensure the Household and Lifestyle data and IT infrastructure will support pricing and account management. Proactively raise and resolve issues with the Data Warehouse Manager. Develop PC systems as appropriate to facilitate pricing and account management.
• In consultation with the Reserving Manager, maintain awareness of claims reserving developments for financial reporting so that consistency is achieved in pricing decisions.
• Maintain appropriate documentation supporting the account management/pricing procedures, analyses, decisions, processes and controls.
• Ensure the Household and Lifestyle data and IT infrastructure will support pricing and account management. Proactively raise and resolve issues with the Data Warehouse Manager. Develop PC systems as appropriate to facilitate pricing and account management.
• In consultation with the Reserving Manager, maintain awareness of claims reserving developments for financial reporting so that consistency is achieved in pricing decisions.

• Detailed understanding and current knowledge of personal lines general insurance products and pricing. Working knowledge of the regulatory environment.
• Good knowledge of relevant software packages including Microsoft Office & SAS.
• Understands the modelling techniques specifically relating to Pricing and Reserving and key performance indicators used in the assessment of account performance.
• Identifies trends in key indicators of performance and deviations from expected results.
• Interprets results that may indicate the need to review premiums and terms.
• Demonstrates strong numeric and statistical skills.
• Maintains and identifies new internal and external data sources to assist in regular account performance assessment.
• Builds and interprets statistical risk models.
• Ensures that analysis is consistently accurate, building in appropriate controls and cross-checking results, and reviewing work undertaken by other team members.
• Able to explain complex numerical issues in an understandable manner.
• Reports results and makes recommendations in a clear and concise manner.
• Influences pricing decisions in the relevant channels so as to achieve profitability and competitiveness.
• Able to work to tight deadlines.
• Understands the needs of the business so as to make appropriate recommendations for action and assist in achieving business objectives.
• Works in a professional and co-operative manner with other team members, external departments and organisations.
• Displays initiative and flexibility in resolving problems raised by both internal and external customers.
• Evaluates options to take positive and timely decisions.
• The team use the software packages Emblem, Classifier and Radar and experience of these packages would be useful though is not a prerequisite.

Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you. Our employees have a wide range of benefits including a generous pension scheme, life assurance, 25 days’ holiday, private medical insurance, discretionary performance related bonuses, paid overtime, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, your hard work will be rewarded when you join us.

Legal & General runs a highly regarded Actuarial Rotations Programme for students, which you will be a part of. The role you are applying to is for a specific location, but to further develop and enhance your skills you may be asked to rotate in future to our other site. Our sites are London and Hove.  

For more details, please contact Helen Brockbank, Resourcing Lead - helen.brockbank@landg.com.