Pricing Director

About Us

Building a global insurance safety net that is simple, easy to understand, and accessible to all.

Micro Insurance Company (MIC) is a full stack technology focused insurance company.  MIC has brought together sales, distribution, product, and technology to focus on new insurance opportunities coming from the new digital economy for billions of people and millions of micro and small businesses globally.  MIC provides insurance to internet platforms, millions of micro & small businesses.  At MIC, we are changing the insurance business. We are constantly working to create insurance policies that do exactly what insurance is supposed to do – provide a safety net to help people recover quickly from problems large and small. Over the last 300 years, insurance has not done such a great job of this, globally few people buy and it is seen as complicated, expensive and untrustworthy.

We are dedicated to changing this perception of insurance, and we are doing this through our actions. So far, we have issued over 3 million policies in 15 countries, and we are not slowing down anytime soon. We believe recovering from adversity should not be a privilege for only the wealthy and the few, which is why we are committed to distributing insurance to the world’s low and middle-income people and micro businesses. To make insurance accessible, we are often required to solve complex problems. Every country we operate in requires different solutions that are unique to that region. Thus, we have created and implemented many innovative financial services which are distributed through e-commerce partners and platforms, banks, mobile networks, and mobile wallets.

At MIC, we pledge to share our skills and ideas to enable other insurance companies to grow their own businesses and to reach more people. We believe together, we can reach 4 billion people.

Role Description

This professional will report to the Chief Underwriting Officer and serve as a member of the Underwriting management team. This individual will lead the pricing function and have responsibility for pricing guideline and modelling development, implementation, and leadership.

As a Pricing Director at MIC Global, your role will be to lead the actuarial team in driving pricing decisions from actionable insights by account. In addition, the Pricing Director will serve on the Syndicate Management Committee for Syndicate 5183 and be the key pricing contact for external parties.

The Pricing Director will monitor the performance of insurance products derived from the raw data collected. In addition, this role will be responsible for the creation of automated reports and presentation of dashboards to the management team, including delivery of a monthly portfolio review presentation to ExCO.

These goals will be accomplished through strong business acumen and understanding of data. The ideal candidate will be proficient in querying, investigating, transforming, analysing, and visualizing a variety of types of data using different analytical methods and tools. The Pricing Director will also have people management responsibility – coaching, mentoring, and leadership skills are key.

If you’re passionate about technology, love to learn, enjoy collaborating cross-functionally, and are excited to work with business development, marketing, operations, compliance, and claims data, this is a great opportunity to grow your skills and to join a start-up leading the transformation of the micro insurance industry.

Broad Responsibilities

• Collaborate with leaders and stakeholders to understand business issues, frame issues in terms of data, analyse business or project performance using statistical methods, and create modelling to evaluate and share findings and recommendations
• Identify, develop, and implement data strategy across the business in collaboration with business development and technology teams
• Serve as pricing leader via coaching and mentoring of pricing team members
• Calculate the exposure of the insurance portfolio and create realistic disaster scenarios 
• Perform testing and validation of data sets
• Lead market research teams to create a set of data based on market research
• Build, monitor, and update models for innovative partnerships where little to no data exists
• Leverage wide range of statistical methodologies and data to tackle business problems and assist with design of product offerings
• Document analysis and create technical documents and guidelines to be used in underwriting process
• Communicate pricing decisions effectively to non-technical audience as well as external regulatory boards
• Serve as a “trusted advisor” to underwriting and other business teams on the use and analysis of data
• Assist in writing and review of insurance contracts (policy wording, reinsurance slip, retro slips) 

Minimum Qualifications

• Highly curious about new ideas in insurance and broadly worldwide
• Motivated learner, willing to operated outside of the box
• Ability to model theoretical concepts using proxy data sets
• Demonstrated experience driving business decisions through data-driven actionable recommendations
• Strong written and verbal English communication skills including the ability to effectively collaborate with multidisciplinary groups
• Proactive approach to work with the capability to plan, prioritise and handle workload to ensure expectations of stakeholders are effectively managed
• Strong decision-making skills
• Self-motivated with the ability to work on own initiative and as part of a team

Requirements

• Fluency in spoken and written English will be essential.
• Bachelor’s degree or equivalent experience in mathematics, data science, actuarial science, statistics, or other quantitative field

Bonus Points

• Experience with Insurance Industry
• Experience working with a Lloyds Syndicate and/or Consumer Business
• Leadership Experience
• Additional language capabilities

Benefits

• PTO + 8 Company Holidays
• Bonus and Share Unit Potential
• You will be working for a company that has talented colleagues and has a passionate focused culture
• Extensive potential for growth and professional development
• Opportunity to have a large impact at MIC Global through development of the technology systems and implementation

Location

London (UK) or Nashville Tennessee (USA), with flexibility to align with UK/USA business hours. 

Role Reports into:

Chief Underwriting Officer, Paige Stiefel | LinkedIn