An exciting opportunity to join Legal and General Insurance's Direct pricing team. The Direct channel is the fastest growing of Legal and General Insurance's channels and a number of new products have recently been or soon will be launched. Household is by far our largest line of business and our approach is to deploy personal lines best practice to household first. We are consistently among the most competitive in the direct market. To this end the Direct pricing team work alongside the Risk Insight team and are at the forefront of deploying new functionality for Legal and General.

• Support the performance review 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.
• Provide analysis to feed into 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, support periodic risk rate analyses, implementing 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.

• Detailed understanding and current knowledge of personal lines general insurance products and pricing.  Experience of the buy to let market and its pricing, would be highly desirable although not essential.  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 rates 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. Presents to Pricing forum.  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. Reviews, considers and comments on work of analysts. Where appropriate, provides feedback on work of peers. The team use the software packages Emblem, Classifier and Radar and experience of these packages would be useful though is not a prerequisite.

Additional Information

• We value CII and RSS qualifications and would support the role holder to progress to ACII or CStat status.

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, 22 days’ (with potential to rise to 26 days) holiday, 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.

For further information, please contact John Maughan on john.maughan@landg.com