My client are a reputable, Global insurance company based in central Croydon.
The Product Pricing Analyst sits within the Marketing Department and reports to the Product Marketing Manager, (responsible for market research , insight and strategy across all lines of business.) However the nature of the role is cross functional and will work with Operations and Underwriting as well as the wider Marketing and Sales teams.
Objective of the role
1. Responsibility for the accurate entry of all pricing files from Underwriting into the IT platforms and test that all links and accuracy for customer facing policies and premiums are working.
2. Setting up our customer facing products online to ensure the offer is clear, relevant and attractive to the target audience(s). As well as ensuring all links to the relevant supporting documentation are correct.
3. Undertake user acceptance testing (UAT) for all new and updated online products ensuring a smooth customer journey and no bugs or errors on the platform in advance of launching to market.
4. Undertaking timely market and competitor pricing comparisons across all products and distribution channels, ensuring we have a clear view of our pricing position v the market.
5. Proposing and making recommendations for how we can improve our pricing to be competitive in the market.
This is an exciting opportunity to become part of our growing Marketing team, and further develop the organisation's commercial and digital marketing expertise.
With a growing digital demand in the market, the Product Pricing Analyst will lead all pricing input from Underwriting into the various platforms for all Lines of Business, to ensure accurate data links are established and drive real change and competence in this area.
You will work cross functionally across the Marketing, Underwriting, Sales and Operations teams to ensure the correct pricing is established in our systems in a customer friendly format.
And that the business has a constantly updated view of its price competiveness across all Lines of Business and distribution channels. In addition you will understand and monitor how the Aggregators pricing is moving and how we compare theoretically against them.
Reporting into the Product Marketing Manager, your key responsibilities will be:
" Helping the business to migrate from current pricing tools such as PDS, to the new global business model (GBM) IT solutions such as EQS pricing tool.
" Input pricing for all products and distribution channels, understanding EQS and being able to configure pricing within it.
" Accurate data input and testing, understanding how price is built up (net, commission and IPT.)
" Creating processes for testing data inputting accuracy efficiently, ensuring high levels of quality and best practises are maintained.
" Gaining understanding and experience of aggregator distribution channels including the modelling and algorithms used. Reviewing pricing to ensure sales are profitable, should the business decide to use this distribution channel.
" Competitor and market pricing analysis including reporting to the business any noticeable changes that could impact profitability or market share.
" Creating and maintaining regular pricing reports, distributing to key stakeholders within the business.
" Supporting the business with pricing reviews, making recommendations based on fact and insight.
" Conduct UAT and pricing optimisation for all our sites. For both new customers and renewals.
" Working with the marketing team to help with price driven marketing campaigns, such as the use of discount codes or targeted pricing to appeal to certain target segments.