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Graduate Pricing Analyst/Actuarial Analyst

Please Note: The application deadline for this job has now passed.

Job Introduction

  ** Remote/home working allowed **

With market-leading, innovative insurance, and financial products the transformation of our business makes the Saga Group an extremely exciting place to be as we move toward the Saga 70th anniversary in 2021. 

A leader in Motor, Home, Travel and Health Insurance; Our Insurance business is the largest part of the Saga Group. It provides tailored products including the recently launched fixed price insurance product.  

…And right now, we are looking for a Graduate Pricing Analyst and an Actuarial Analyst to join us. In this role, you will support other teams in the company including Claims, Data/MI, Pricing and Underwriting, forming strong working relationships with these areas.

You will be either contributing to all yearly Solvency II processes or you will be contributing to pricing model development and granular pricing analysis.

 You will bring a 2:1+ degree in a maths-based subject with a proactive, hands on approach to work. 

And in return, you can look forward to all the responsibility and involvement of an integral new role to our insurance business, providing you with a rewarding and fast-paced career with an excellent benefits package. 

If your a pricing/actuarial specialist, then we want to hear from you! 

Role Responsibility

  • Contribute to pricing model development and granular pricing analysis, including;
  • Identifying new data sources and implementing innovative feature engineering to enrich pricing models.
  • Investigating and implementing automated machine learning and new advanced analytics to modernise pricing models.
  • Identifying new areas of business to grow the size of the Motor book.
  • Monitoring performance of pricing models and amending where required.
  • Understand and explain emerging trends in the Motor market and in the claims experience.
  • Become proficient in Radar, Emblem and Excel, and use where appropriate in analysis.
  • Contribute to actuarial analyses to determine reserves for motor insurance, including;
  • Monthly reserving processes.
  • Analysis of assumptions and methodologies used in the reserving process.
  • Analysis of reserve variability including the use of simulation techniques.
  • Contribute to all yearly Solvency II processes, including;
  • Calculation of the solvency capital requirement including the Technical Provisions.
  • Reporting requirements including quarterly and annual return templates, SFCR and RSR.
  • The ORSA process.
  • Contribute to the yearly Reinsurance renewal process, including;
  • Preparation of all relevant information.
  • Analyses to define the optimal RI programme.
  • Contribute to ad-hoc pricing analyses, including;
  • Setting the aggregate pricing level.
  • Finding new rating factors.
  • Collaborate with other teams in the company including Claims, Data/MI, Pricing and Underwriting, forming strong working relationships with these areas.
  • Develop management information and perform ad-hoc analysis to help inform key business decisions.
  • Build core understanding of general insurance reserving, capital modelling and pricing methodologies.
  • Become proficient in ResQ, Radar, Emblem and Excel, and use where appropriate in analysis.
  • Collaborate with other team members on project work, demonstrating enthusiasm and contributing actively to discussions.
  • Demonstrate intellectual curiosity by investigating new avenues for investigation and implementing new techniques, thereby furthering the overall skillset of the team.
  • Manage any risks or controls delegated to this position as detailed in the relevant risk registers, in line with the business's risk policy.
  • Development and ongoing production of MI, to inform and enable business decisions regarding the running of motor insurance.
  • Development of models using both traditional formats and machine learning methods.
  • Timely and accurate completion of reserving and Solvency II outputs.
  • Delivery of analysis in a timely manner to meet the needs of the team and wider business.
  • Adjustments to the product to account for developments in the motor market.
  • Ad-hoc analysis requested from internal and external stakeholders which can be used to help the business make informed decisions.

If admitted to the study scheme, work towards Fellowship of the IFOA, passing exams at the required rate. Core work will always be prioritised ahead of study allowance.

The Ideal Candidate

Capability, Knowledge and Experience:

  • Experience of programming languages such as SQL, VBA, R and Python
  • Familiarity with modelling, machine learning and advanced analytics
  • Familiarity with actuarial methodologies and techniques including general insurance pricing, reserving and capital modelling.
  • Experience with relevant insurance legislation, eg Solvency II
  • Knowledge of ResQ, Radar, Emblem, ReMetrica, Tableau or similar systems.

Education and Qualifications:

  • High quality graduate – 2.1 or above in a numerical degree.
  • Strong A-levels in numerical or scientific subjects.

Personal Characteristics:

  • Strong numerical and statistical capabilities.
  • Excellent verbal and written communication skills.
  • Comfortable working with large amounts of data.
  • Proactive, with a strong desire to learn. Demonstrates enthusiasm and self-motivation.
  • Strong organisational skills, e.g. manages time effectively, prioritises work appropriately, documents work thoroughly.
  • Good at working in a team and demonstrates this by helping peers/department to achieve tasks when deadline is tight. Is happy working late on occasion to meet business needs.
  • Dependable and reliable, e.g. will perform or give update on progress as required on assigned task with minimum micro management.

Package Description

The standard benefits when you join Saga include: 

  • Remote working available where possible

  • The choice to buy a further 5 days annual leave per year 

  • Free private medical insurance after 1 years' service 

  • Workplace Pension 

  • AXA Be Supported 

  • Apples Nursery (Folkestone only and on a waiting list basis) 

  • Give as you earn 

  • Free eye tests 

  • Honeymoon benefit 

  • Share buy 

  • Salary finance 

  • Discounts on Saga holidays and insurance products 

  • A range of reductions and offers from leading retailers, travel groups and entertainment companies 

  • Long service awards 

About the Company

We want all our candidates to have the best possible chance of doing well during our recruitment process so we have created some videos which will help with your CV: 

And some helpful tips should you be invited to interview: 


When you join Saga you will see that we are committed to treating all employees fairly and to offering equal opportunities in all aspects of employment and advancement. 

We value diversity not just because it is the right thing to do, but because diverse teams perform better. Creating a culture in which everyone feels welcome and offering equal opportunities in all aspects of employment and advancement is incredibly important to us. Fair consideration is given to applications from all applicants, including those with disabilities. 

We are an official Disability Confident Committed employer and ensure that our recruitment process is inclusive and accessible and we will make reasonable adjustments as required.

We are a member of the 30% Club and partner with Women Ahead which offers us a fantastic opportunity to take part in a leading, global, cross-company, leadership mentoring scheme to champion female talent.

We are a signatory of the Armed Services Covenant and have received a Silver Award from the Employer Recognition Scheme. 


Learn more about the Saga business by watching our Saga plc 2019 AGM film below:

To all recruitment agencies: Saga does not accept agency CVs unless specifically engaged on the role by the HR Recruitment Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga is not responsible for any fees related to unsolicited CVs.





Saga Group

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