Background
AXA Insurance is one of the largest general insurers in the UK, offering a broad range of both Commercial and Personal products. AXA Commercial's strategy is to focus on and invest in growth in the Micro SME channel. Our pricing capability will be one of the most important success factors and there is a strong opportunity to develop and evolve pricing methodologies in the SME market - drawing from learning in AXA Personal Lines and other equivalent markets. As SME Pricing Manager you will play a key role by leading pricing activity for AXA Commercial's considerable SME business in line with the company's Strategic Plan to achieve profitable growth and market market beating results. You will also be leading a team of actuarial and pricing managers and analysts with the responsibility for development and delivery of pricing excellence across all SME lines of business.
The role
- To develop and maintain sophisticated pricing models, rate structures and risk selection strategies based on sound analysis of historic data and suitable assumptions regarding future trends.
- To develop and deliver new approaches to ensure that AXA Commercial's methods become and remain 'best of breed'. Seek to identify value in both internal data sources and new or existing external datasets, incorporating new factors into rating and risk selection as appropriate.
- To build and develop segmented conversion and elasticity models and methodologies to optimise pricing in the direct SME space and analytical models and methodologies to optimise conversion in a panel environment.
- Identify tactical pricing and risk selection opportunities to improve the overall performance of the SME account and work with key stakeholders in the Direct and e-Trading business to create Operating Plans with a shared sense of agreement.
- To manage the SME pricing team, developing the skills and competencies of the team.
- To develop and manage plans and strategies for pricing across SME lines and to contribute to the overall planning and strategic development of AXA Commercial's SME business.
- To identify trends in the market that drive insurance risk, seek opportunities for additional business and to develop and deliver strategies to mitigate or capitalise on these as appropriate.
- To govern the management of pricing across SME lines, ensuring that key stakeholders are involved in the process, changes are adequately documented and managed and appropriate controls are in place across SME pricing.
Skills, knowledge and behaviour
- Excellent numerical and mathematical skills. Either holding or working towards an actuarial/general insurance professional qualification or demonstrating equivalent technical expertise and insurance knowledge to fulfil key accountabilities for the role.
- Experience of leading a Pricing division and achieving profitable returns, ideally in the SME insurance sector or equivalent alternative
- Leadership, coaching and development skills. Demonstrates business acumen.
- Competent strategic planner with proven capability of driving innovation and continuous improvement
- Ability to grasp the significance and meaning of a range of technical and complex issues relating to underwriting, claims handling, pricing, reserving and financial analysis of insurance
- Substantial knowledge of Commercial Lines insurance products, industry knowledge and understanding of regulatory framework
- Demonstrating effective communication, influencing and strong relationship building skills - both within and outside of immediate team. Able to interact with Executives and Senior Management.
- Detailed understanding of appropriate statistical techniques for insurance risk analysis and pricing
- Advanced level knowledge of Word, Excel and other actuarial tools.
What will you get from this role?
- Competitive Pension Scheme.
- Life Assurance (4 x salary)
- Annual Bonus Scheme - up to 35%.
- Private Health Insurance.
- 28 days annual leave.
- Company car or cash allowance
- Flexible benefits package.
- Internal promotion policy and talent & leadership programmes
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