Vitality, Head of Pricing – VitalityLife, London, £Competitive + Bonus + Benefits
We’re the UK insurer and investment provider that rewards people for positive lifestyle choices. With 1.25m+ UK members and more than 25m globally, we’re out to make the world a healthier, happier place.
That applies as much to our people as it does to our members. So, as well as a highly competitive pay package, you’ll enjoy: complimentary breakfasts; regular onsite physical and mental wellness workshops; on-site health checks; annual flu jabs and access to our full range of partners and rewards.
It’s what we call offering shared value, because a healthy, happy team is good for us, good for our members and good for you.
As our Head of Pricing, you’ll get the benefits our members enjoy, including
– Our award-winning private Vitality Health insurance + wellness incentive programme
– Access to The Vitality Programme – Apple Watch, Waitrose and Partners, Garmin, Champneys Spa days, half price gym memberships, Disney Store discounts to name a few!
– Personal health fund + Life Assurance
– Stakeholder Pension Plan with employer contribution
– 25 Days annual leave + Bank holidays + option to buy and sell 5 more.
– Flexible benefits package
– Internal incentives, competitions and awards – a chance to win football and sports tickets or even be in with a chance to have a holiday of a lifetime
– A genuine opportunity to grow and establish a long-term career
This is a fantastic opportunity for an experienced pricing actuary to take a senior role in: developing and managing the delivery of the pricing strategy for new and existing protection products; leading strategic projects to identify, develop and deliver pricing innovation and optimization.
Responsibilities as our Head of Pricing:
– Define and lead the delivery of the VitalityLife pricing strategy to enhance portfolio profitability
– Work closely with product development, reinsurance, underwriting & claims, sales, data science, Vitality programme, and capital and valuations teams in delivering the pricing strategy
– Ownership of pricing and rate creation models, using cutting edge analytical techniques to improve effectiveness and efficiency
– Improve sales and retention, whilst maintaining profitability and hitting the business plan metrics
– Deliver enhancements to pricing through R&D of rating factors and segmentation
– Manage a small team of pricing analysts and actuaries
– Perform regular re-prices and targeted prices across all VitalityLife products and channels
– Pricing for policy servicing changes and reviewable products
– Define price segmentation to reflect quality management of business sold
– Report on pricing competitiveness, and monitor new business profitability and respond to changes
– Set and maintain granular pricing basis that informs pricing optimisation
– Provide actuarial support during system development and testing, specifically around pricing developments and changes
– Ownership of the data/systems architecture for pricing
– Run regular price optimisation test and learn exercises
– Support during new product or pricing reinsurer tenders
– Build relationships with all departments to share best practice and enhance VitalityLife analytical capability
To become our Head of Pricing, you will have the below skills and experience:
– Extensive experience in insurance pricing
– Qualified Actuary
– Advanced data analytics skills, including experience using analytical tools for pricing
– Proven capability to drive change from conception to delivery
– Experienced manager and team leader with ability to interact with senior stakeholders
– Experience working in life office or reinsurer, specifically in pricing protection products
– Experience of life insurance cashflow and capital models (experience in Prophet preferable)
– Excellent relationship building and communication skills
– Experience pricing protection products in the UK (desirable)
Closing Date: Thursday 13th August 2020
Working for Vitality, you’ll experience an exciting mix of creativity and innovation, within a framework of challenging objectives and a passion for delivering the best.
Our people are chosen for their skills, knowledge, enthusiasm and attitude but above all, their belief that anything can be achieved.
If you feel you have the skills and experience to become our Head of Pricing, thenplease click ‘apply’ today…… click apply for full job details