Pricing & Portfolio Insight Product Owner

Role Summary / Purpose

• Pricing & Portfolio Insight Product Owner is a key role within our insurance company responsible for utilizing sophisticated techniques such as Generalized Linear Models (GLMs) to develop accurate loss cost models for pricing and portfolio management purposes

• This position requires a deep understanding of actuarial concepts strong statistical modelling skills and the ability to provide data-driven insights to support strategic decision-making

• This Product Owner is responsible for conducting robust quantitative and statistical analysis of our insurance product offerings and portfolio

Squad: Pricing & Portfolio Insight

• Responsible for the running of the Pricing & Portfolio Insight Squad.

• The squad involves leveraging complex data sets to identify trends patterns and insights that serve to improve product performance optimize portfolio management and inform strategic decision-making

• The Product Owner will collaborate closely with various stakeholders including underwriting actuarial risk management and the executive team assisting in driving evidence-based decisions promoting profitability and enabling efficient portfolio management

Key Responsibilities / Accountabilities

• Develop and maintain loss cost models using GLMs and other advanced statistical techniques incorporating relevant variables and factors for accurate pricing and risk assessment

• Analyse historical insurance data to identify patterns and trends and determine the impact of various factors on loss costs

• Collaborate with underwriting claims and finance teams to understand business needs and provide data-driven insights for portfolio management

• Conduct rate level reviews to ensure appropriate pricing of insurance products considering risk exposure market dynamics and profitability goals

• Enhance loss cost models over time by incorporating new data sources refining variables and exploring innovative modelling techniques

• Evaluate the impact of pricing strategies policy changes and market shifts on portfolio performance and make recommendations for adjustments if needed

• Present findings and recommendations to stakeholders including senior management and underwriting teams in clear and concise reports

• Excellent analytical and problem-solving skills with the ability to translate data into meaningful insights and recommendations

• Bachelors degree (or equivalent) degree in a quantitative field such as Data Science Actuarial Science Statistics or Mathematics

• Related practical experience preferably in commercial insurance sector

• Strong proficiency in statistical modelling techniques specifically GLMs and experience with software tools like R SAS or Python

• Solid understanding of insurance pricing principles loss reserving and risk assessment methodologies

• Familiarity with insurance industry regulations standards and best practices

• Proficiency with data analysis and visualisation tools and platforms preferably Qliksense Power BI Alteryx etc.

• Experience of using AI within daily ways of working

• Ability to provide hands-on direction and day-to-day execution ownership in a multidisciplinary team

• Relevant knowledge and understanding of business objectives to align with product vision

• Demonstrated ability to think both strategically and tactically

• Excellent communication and presentation skills; comfortable in engaging with senior leadership

• Ability to effectively identify and manage needs of a broad range of stakeholders

• Ability to juggle multiple priorities and handle unexpected challenges that arise within projects adapting quickly and effectively

• Strong self-motivator with a contagious ability to spread energy to team