Somerset Bridge Group
Pricing Analyst
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Application Deadline: 18 August 2026
Department: [SBISL] Retail Pricing
Location: Bristol
Compensation: £40,000 - £50,000 / year
Description
We're looking for a Pricing Analyst to join our Retail Pricing team. In this role, you'll use data analysis, statistical modelling and pricing insights to help develop competitive, fair and profitable pricing strategies for our motor insurance products.
Working closely with colleagues across Pricing and Underwriting, you'll support customer acquisition and retention, drive commercial performance, and ensure pricing decisions align with regulatory requirements and customer needs.
What you'll be responsible for:
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Data Analysis and Modelling
- Analyse historical data and trends to develop accurate pricing models and forecasts.
- Apply statistical and actuarial techniques to identify key risk factors influencing pricing decisions.
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Pricing Strategy Development
- Collaborate with Pricing Actuaries to design competitive pricing strategies aligned with the company's financial objectives.
- Utilise insights from market research and competitor analysis to refine pricing recommendations.
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Reporting and Communication
- Present findings, insights and recommendations to senior management and key stakeholders in a clear and impactful manner.
- Prepare and maintain detailed documentation of pricing models, methodologies and assumptions.
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Collaboration
- Work closely with Underwriting, Marketing and Claims teams to incorporate diverse perspectives into pricing decisions.
- Liaise with IT teams to support the implementation of pricing tools and system enhancements.
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Regulatory Compliance
- Ensure pricing models and practices comply with all relevant regulatory requirements and industry guidelines, including those issued by the Financial Conduct Authority (FCA).
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Innovation
- Contribute to the development, testing and enhancement of new pricing techniques and algorithms.
- Explore and leverage machine learning and advanced analytical tools to improve predictive performance and pricing accuracy.
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Continuous Improvement
- Monitor the performance and effectiveness of pricing models, recommending enhancements where appropriate.
- Stay up to date with industry developments, emerging risks and technological advancements to inform pricing decisions and best practice.
What you'll need:
- Strong analytical and problem-solving skills with a high level of numerical proficiency.
- Knowledge of statistical software (e.g., R, Python, SAS) and data visualization tools (e.g., Power BI, Tableau).
- Familiarity with actuarial pricing techniques, including GLMs (Generalized Linear Models) and machine learning algorithms.
- Proficiency in Radar or EMBlem.
- Ability to interpret large, complex datasets and derive actionable insights.
- Excellent communication and presentation skills to convey technical findings to non-technical stakeholders.
- Teamwork and collaboration skills, with an aptitude for working across departments.
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Our 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
- Electric vehicle – salary sacrifice scheme
- 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
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