Head Of Market Pricing

About The Role
Hybrid role – 2 days a week in the office, 3 days a week working from home
Overall Job Purpose
To enable delivery of the pricing strategy to ensure VitalityHealth is at the forefront of the market resulting in achievement of volume and value objectives.
AccountabilitiesDelivers the overall market pricing strategy/approach to achieve or exceed the business’ sales, retention and profitability targets
Builds relationships with internal departmental stakeholders to deliver optimal results for the business
Takes ownership on new business optimisation modelling, working with the technical pricing team on the underlying models and developing market strategy scenarios to deliver business performance goals
Works closely with the Technical Pricing team to enhance market pricing models by agreeing appropriate implementation of output from cutting edge statistical modelling techniques into market pricing
Works closely with the Technical Pricing team to appropriately embed insights from our wider functions into our market pricing, including insights from Clinical Risk, Vitality and Expenses and external datasets, whilst maintaining commercial viability
Proposes changes to new business rating structure, renewal pricing and discount strategy for individual and SME business, communicating changes appropriately to relevant areas the business
Plays key role in designing and evaluating new business and retention initiatives
Communicates key performance metrics at granular level, such as conversion, retention, retained premium and loss ratio to the wider business and committees, determining and initiating corrective action where required
Determines the parameters for competitor pricing analysis to understand market competitiveness and positioning, and provides commentary to key stakeholders
Builds relationships with key brokers to understand competitiveness and act on pricing feedback where appropriate to do so
Oversees commercial underwriting team to optimise sales, retention and profitability of SME business
Builds relationships with internal departmental stakeholders to share best practice and enhance VitalityHealth analytical capability
Skills Required
EssentialQualified Actuary
Experience of working in pricing function of a general insurance/health insurance company
Excellent verbal and written communication skills
Strong stakeholder management skills
Strong leadership skills
Strong ability to understand problems and develop structured solutions
Full IT literacy including Microsoft Outlook, Word, Excel (advanced) and PowerPoint