Pricing Lead

Department: [SBISL] Underwriting

Location: Bristol

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

Somerset Bridge Group is currently seeking a Diversified Pricing Manager to lead pricing strategy and delivery across our Diversified Products portfolio, including Van, Bike, Bespoke Car and Short-Term Insurance.

In this role, you will be responsible for delivering pricing reviews, recommending and implementing rate changes, and monitoring the impact of pricing actions to ensure profitable, sustainable growth. Working closely with Product, Distribution and wider Pricing teams, you will transform performance, broker and market insights into clear commercial actions, using sound judgement to develop, adapt and challenge pricing approaches that support portfolio objectives, customer outcomes and financial targets.

• 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.

• 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…