Head of Market Pricing

We’re making a significant investment in pricing capability with a comprehensive pricing transformation programme. This includes the implementation of new pricing software, market-leading modelling, and performance monitoring approaches. Our pricing structure is more aligned to focus on the key disciplines of technical pricing, market pricing and pricing governance. As a result, several vacancies have arisen, with a need for strong data science, actuarial and governance skills.

We’re looking for an experienced Pricing leader to own and deliver the market pricing strategy for AXA Health. You’ll fine tune optimisation of Individual and SME rates in the market to strike the required balance between volume and value. You’ll own the profit and loss (P&L) result via insight-led portfolio level rating decisions, and case-by-case pricing and underwriting decision making. This is a strategic leadership position overseeing a team of five direct reports and holding overall responsibility for a department comprising 25 employees, reflecting its significant scope and impact within the organisation.

At AXA we work smart, empowering our people to balance their time between home and the office in a way that works best for them, their team and our customers. You'll work at least two days a week (40%) away from home, moving to three days a week (60%) in the future. Away from home means either attendance at our Tunbridge Wells office, visiting clients or attending industry events. We’re also happy to consider flexible working arrangements, which you can discuss with Talent Acquisition.

What you’ll be doing:

• Owning the Individual and SME P&L performance in terms of volumes and underwriting profit, in conjunction with Distribution leaders.
• Shaping and delivering the strategy for retail pricing models including customer behaviour and market premium models, ensuring sophistication is in line with or better than best practice in the market.
• Delivering price optimisation strategy, gaining buy-in from all key stakeholders.
• Owning strategic plan and forecasting assumptions and ensure performance is monitored at this granular level.
• Ensuring new business initiatives are value adding and ensure insights are available to track performance.
• Ownership of renewal pricing strategy, ensuring appropriate value-based retention incentives are in place with performance monitored against targets set.
• Leading portfolio management strategies, ensuring regular insights are produced to track business performance, identifying actions to take.
• Monitoring risk underwriting decisions at case-by-case level to ensure they are appropriate.

Due to the number of applications, we expect to receive for this role, we reserve the right to close this advert earlier than the listed closing date to ensure we’re able to effectively manage interest. Therefore, if you’re interested in joining us at AXA, please don’t hesitate to apply.

What you’ll bring:

• Expert knowledge of retail pricing data and modelling techniques, including generalised linear model (GLMs) and machine learning such as gradient boosting machine (GBMs), within insurance.
• Expertise in price optimisation and other actuarial techniques including reserving.
• Previous experience leading and motivating a Market Pricing Team to achieve targets.
• Comprehensive understanding of the regulatory environment.
• Demonstrable resilience and experience of successfully managing multiple priorities.
• Strategic thinker, and able to translate strategy into a delivery plan.

As a precondition of employment for this role, you must be eligible and authorised to work in the United Kingdom.

This position has been defined as an Insurance Distribution Directive (IDD) role under the IDD regime which means that in addition to pre-employment screening checks, the successful candidate will be subject to background screening every 4 years with an annual declaration in interim years.

What we offer:

At AXA UK, we’re appreciative of the people who work for us and our rewards package is reviewed regularly to reflect that. You can expect to receive:

• Competitive annual salary of up to £150,000
• Annual company & performance-based bonus
• Cash car allowance of £6,700 per annum
• Contributory pension scheme (up to 12% employer contributions)
• Life Assurance (up to 10 x annual salary)
• Private medical cover
• 28 days annual leave plus Bank Holidays
• Opportunity to buy up to 5 extra days leave or sell up to 5 days leave
• Wellbeing services & resources
• AXA employee discounts

To apply, click on the ‘apply for this job’ button, you’ll then need to log in or create a profile to submit your CV. We’re proud to be an Equal Opportunities Employer and don’t discriminate against employees or potential employees based on protected characteristics. If you have a long-term condition or disability and require adjustments during the application or interview process, we’re proud to offer access to the AXA Accessibility Concierge. For our support, please send an email to saraya.cussons@axa-uk.co.uk.

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Who we are:

At AXA Health, we’re passionate about helping our members to put their health first, whether that’s individuals and families, small businesses, or huge corporates. From fast access to diagnosis and treatment, to guidance and tools that can help them manage their health every day, not just when there’s a problem, our members can be confident we’ll guide them, every step of the way.