Pricing Lead

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. What you'll be responsible for: Diversified Product Pricing Management 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. Pricing Strategy, Analytics & Model Development 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. Broker & Distribution Pricing 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. Product Growth & New Opportunity Assessment 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. Performance Insight & Governance 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. Stakeholder Management & Collaboration 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