Pricing Lead

Department: [SBISL] Underwriting

Employment Type: Permanent - Full Time

Location: Bristol

Compensation: £80,000 - £95,000 / year

Description

What you'll be responsible for:

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

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