Somerset Bridge on cord

Somerset Bridge

Pricing Lead

External position
Bristol, UK
Hiring internally for Somerset Bridge?
Insurance
Fair products, innovative services.
Posted
2 months ago
Checked
cord regularly checks that external positions are still open
2 days ago

Skills & Experience

Job roles: Finance/Accounting
Experience level: Lead
Core skills considered: Business Analysis, Financial reporting, Budget modelling, Stakeholder Management, Process management
Other skills considered: Communication software, Compensation & benefits, Corporate finance, Financial strategy, Data Analysis

Logistics

Base salary: £80K - £95K
Employment type: Permanent
Remote working: Hybrid (up to 3 remote days p/w)
Visa sponsorship: Not available

Job Description

In this role, you will be responsible for delivering pricing reviews, recommending and implementing rate changes, and monitoring the impact of pricing actions to ensure profitable, sustainable growth. Working closely with Product, Distribution and wider Pricing teams, you will transform performance, broker and market insights into clear commercial actions, using sound judgement to develop, adapt and challenge pricing approaches that support portfolio objectives, customer outcomes and financial targets.


What you'll be responsible for:


Diversified Product Pricing Management

  • Own and lead pricing activity across Somerset Bridge Group's Diversified portfolio, including Van, Bike, Bespoke Car and Short-Term Insurance products.
  • Conduct regular pricing reviews, develop rate-change recommendations and oversee the delivery of pricing actions.
  • Monitor portfolio performance, including loss ratios, contribution and trading results, identifying emerging risks and opportunities.
  • Recommend and implement pricing interventions to optimise profitability, growth and customer outcomes.
  • Maintain and prioritise a pricing action plan, ensuring initiatives are delivered and tracked to measurable outcomes.
  • Identify opportunities to simplify pricing structures, improving efficiency and commercial effectiveness.

Pricing Strategy, Analytics & Model Development

  • Review, challenge and enhance pricing structures, rating factors, segmentation approaches and model performance across diversified products.
  • Develop and adapt pricing methodologies appropriate to specialist insurance lines, collaborating with wider Pricing teams where required.
  • Evaluate, adopt and tailor broader pricing frameworks and analytical approaches to support diversified products.
  • Ensure pricing solutions remain commercially pragmatic and aligned with product strategy, available data and operational capability.
  • Provide pricing recommendations to support new products, product enhancements, distribution opportunities and pricing experiments.

Broker & Distribution Pricing

  • Assess the commercial viability of broker, partner and scheme opportunities, considering profitability, commission structures, loss ratios and long-term sustainability.
  • Provide pricing expertise for broker requests, distribution changes, footprint expansion opportunities and controlled market tests.
  • Analyse the impact of pricing and distribution decisions on portfolio performance, risk appetite and customer outcomes.
  • Produce clear, evidence-based recommendations within agreed governance and approval frameworks.
  • Support broker and partner discussions by providing commercial and pricing insight to internal and external stakeholders.

Product Growth & New Opportunity Assessment

  • Lead pricing input for new products, product changes, distribution models and adjacent growth opportunities across the diversified portfolio.
  • Evaluate commercial potential, pricing feasibility, portfolio interaction and cannibalisation risks.
  • Design proportionate pricing frameworks and success measures for product launches, pilots and controlled tests.
  • Define post-launch monitoring requirements and evaluate outcomes against original business objectives.
  • Ensure all pricing recommendations balance commercial performance, customer outcomes and product strategy.

Performance Insight & Governance

  • Deliver clear, actionable pricing insight and recommendations to senior stakeholders, including the Head of Diversified Products and governance forums.
  • Translate pricing, trading and claims performance into meaningful actions, risks and opportunities.
  • Maintain robust pricing documentation, governance records and decision rationale.
  • Support forecasting, planning and committee reporting activities with pricing analysis and insight.
  • Collaborate with Finance, Claims and other business functions to improve performance reporting, data quality and operational decision-making.

Stakeholder Management & Collaboration

  • Build effective relationships with Product, Claims, Finance, Distribution and Pricing teams to support strategic and operational objectives.
  • Act as the pricing subject matter expert for the Diversified portfolio, influencing commercial decisions and product development.
  • Communicate complex pricing concepts and performance insights clearly to both technical and non-technical stakeholders.

What you'll need:

  • Strong UK motor insurance pricing experience, with experience of both retail and broker or partner-distributed business.
  • Demonstrable experience leading and undertaking pricing reviews, rate changes and post-change performance monitoring.
  • Experience of working with broker or partner-distributed business, including commission, scheme economics, distribution performance and broker pricing requests.
  • Strong understanding of loss ratio, ultimate loss ratio projections, contribution and the relationship between pricing, trading performance and underwriting appetite.
  • Experience reviewing and challenging pricing structures, segmentation, rating factors and model outputs.
  • Strong commercial judgement, able to balance pricing adequacy, growth, risk appetite and customer outcomes.
  • Confident working with imperfect or developing data, applying proportionate and pragmatic judgement.
  • Strong analytical capability, with the ability to interpret performance data and turn it into clear pricing recommendations.
  • Ability to work effectively across underwriting, distribution, claims, finance, BI and wider Pricing teams.
  • Clear and credible communication skills, including the ability to explain technical pricing issues to non-technical stakeholders.
  • Structured, delivery-focused approach, with the ability to progress pricing actions through to implementation and measurable benefit tracking.

Company Benefits

  • Hybrid working – 2 days in the office and 3 days working from home
  • 25 days annual leave, rising to 27 days over 2 years’ service and 30 days after 5 years’ service. Plus bank holidays!
  • Discretionary annual bonus
  • Pension scheme – 5% employee, 6% employer
  • Flexible working – we will always consider applications for those who require less than the advertised hours
  • Flexi-time
  • Healthcare Cash Plan – claim cashback on a variety of everyday healthcare costs
  • 100’s of exclusive retailer discounts
  • Professional wellbeing, health & fitness app - Wrkit
  • Enhanced parental leave, including time off for IVF appointments
  • Religious bank holidays – if you don’t celebrate Christmas and Easter, you can use these annual leave days on other occasions throughout the year.
  • Life Assurance - 4 times your salary
  • 25% Car Insurance Discount
  • 20% Travel Insurance Discount
  • Cycle to Work Scheme
  • Employee Referral Scheme
  • Community support day
  • Christmas and Summer parties

Pricing Lead at Somerset Bridge
Position posted 2 months ago

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Starling Bank on cord

Starling Bank

Full Stack Engineer (ML Ops)

London, UK
FinTech · Banking · Finance
A better bank for everyone
Active
over 6 months ago
Responds to
0% of requests
Responds in
1h 55m
Requests
7 pending

Skills & Experience

Job roles: Full Stack
Experience level: Mid, Senior
Core skills considered: Java, React, Redux, AWS, JavaScript

Logistics

Base salary: £70K - £110K
Employment type: Permanent
Remote working: Hybrid (up to 2 remote days p/w)
Visa sponsorship: Not available

Job Description

Starling is the UK’s first and leading digital bank on a mission to fix banking! Our vision is fast technology, fair service, and honest values. All at the tap of a phone, all the time.

Starling is the UK’s first and leading digital bank on a mission to fix banking! We built a new kind of bank because we knew technology had the power to help people save, spend and manage their money in a new and transformative way.

We’re a fully licensed UK bank with the culture and spirit of a fast-moving, disruptive tech company. We’re a bank, but better: fairer, easier to use and designed to demystify money for everyone. We employ more than 3,000 people across our London, Southampton, Cardiff and Manchester offices.

Our technologists are at the very heart of Starling and enjoy working in a fast-paced environment that is all about building things, creating new stuff, and disruptive technology that keeps us on the cutting edge of fintech. We operate a flat structure to empower you to make decisions regardless of what your primary responsibilities may be, innovation and collaboration will be at the core of everything you do. Help is never far away in our open culture, you will find support in your team and from across the business, we are in this together!

The way to thrive and shine within Starling is to be a self-driven individual and be able to take full ownership of everything around you: From building things, designing, discovering, to sharing knowledge with your colleagues and making sure all processes are efficient and productive to deliver the best possible results for our customers. Our purpose is underpinned by five Starling values: Listen, Keep It Simple, Do The Right Thing, Own It, and Aim For Greatness.

Hybrid Working

We have a Hybrid approach to working here at Starling - our preference is that you're located within a commutable distance of one of our offices so that we're able to interact and collaborate in person. We don't like to mandate how much you visit the office and work from home, that's to be agreed upon between you and your manager.

Our Data Environment

Our Data teams are excited about the value of data within the business, powers our product decisions to improve things for our customers and enhance effective and agile decision making, regardless of what their primary tech stack may be. Hear from the team in our latest blogs or our case studies with Women in Tech.

We are looking for talented data professionals at all levels to join the team. We value people being engaged and caring about customers, caring about the code they write and the contribution they make to Starling. People with a broad ability to apply themselves to a multitude of problems and challenges, who can work across teams do great things here at Starling, to continue changing banking for good.

Requirements

We have built our entire banking platform in house and mostly in Java. We are looking for people who want to work on building the tooling that is used by our engineers on a daily basis.

We are looking for people who are truly full stack, and are as comfortable polishing their javascript front end as they are debugging the innards of their java applications database interactions, or standing up infrastructure with terraform. We are looking for people who can:

  • Design REST apis.
  • Code backend services, ideally using Java, or another other server side compiled language.
  • Develop modern front ends, ideally using React and Redux.
  • Get their code into the cloud and support it there, ideally on AWS.
  • Believe in clean coding, simple solutions, automated testing and continuous deployment.
  • Like to take ownership of a feature from the original idea through to live.
  • Think (like us) that a small number of empowered developers is the right way to deliver software.

Company Benefits

  • 33 days holiday (including flexible bank holidays)
  • An extra day’s holiday for your birthday
  • 16 hours paid volunteering time a year
  • Part-time and/or flexible hours available for most roles
  • Salary sacrifice, company enhanced pension scheme
  • Life insurance at 4x your salary
  • Hybrid/remote working
  • Private Medical Insurance with VitalityHealth including mental health support and cancer care. Partner benefits include discounts with Waitrose, Mr&Mrs Smith and Peloton
  • Generous family-friendly policies
  • Varied social groups set up and run by our employees
  • Perkbox membership giving access to retail discounts, a wellness platform for physical and mental health, and weekly free and boosted perks
  • Access to initiatives like Cycle to Work, Salary Sacrificed Gym partnerships and Electric Vehicle (EV) leasing

Full details are available on our careers site

Interview Process

Interviewing is a two way process and we want you to have the time and opportunity to get to know us, as much as we are getting to know you! Our interviews are conversational and we want to get the best from you, so come with questions and be curious. In general you can expect the below, following a chat with one of our Talent Team:

  • Stage 1 - 30 mins with one of the team
  • Stage 2 - Take home challenge
  • Stage 3 - 90 mins technical interview with two team members
  • Stage 3 - 45 min final with an executive and a member of the people team
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