B2C Pricing Director
Avantia Group is an award-winning risk analysis and financial services technology business that owns a growing stable of successful and profitable B2C general insurance consumer brands. Avantia invests heavily in R&D and owns valuable, unique, and exciting IP to support our strengths and maintain our competitive lead. We know more about and access more data on residential property risk than any other insurer in the UK, and we use our technology platform to operate predominantly online home insurance consumer brands, which include HomeProtect. We have by far the largest quote-return footprint of any household insurer in the UK, we maintain excellent year-on-year growth, and we’re hard-working and ambitious. The senior management team is irreverent, collaborative, supportive, accountable, values initiative and attention to detail, and operates with a ‘can-do’ attitude.
Avantia is a private equity-backed business fortunate to be working with one of the most successful and best established Private Equity firms in London, with an excellent track-record with online/technology focused data driven businesses. Working with PE at the highest levels within a growth company like ours is like running a marathon at a sprint, with the equity options providing incentive to hit the final ribbon at pace. This role is a rare and outstanding opportunity. Only the brightest candidates will make it to our shortlist stage – we’re looking for how well you can perform and how well you interact with others.
Scope & Impact of Position on the Organization:
- This role is accountable for all retail (online) pricing analysis, in addition to building increased pricing analysis and data sciences capability in the organisation.
- This is a senior and influential role, and accordingly you will be a member of the Trading Committee and the Senior Management Team. As with other senior staff, this role in our business is ‘hands on’.
- The Director of Pricing defines, through careful analysis, sustainable pricing strategies, processes and tools and leads their embedding and execution in order to build best-in-class pricing capability across the business.
- The primary function of this role is to develop and implement list/retail (e-commerce) pricing designed to optimise volume and/or profitability (i.e.; lifetime value). Net Rates are modelled and calculated within our existing ‘Product Division’, whose actuarial analysts / modellers and underwriters use a number of tools to set the basic factory-gate pricing, allowing this role to set consumer pricing independently.
- Analyse customer data from all sources, apply design and apply live-market testing where necessary (i.e.; price elasticity), and apply your findings to maximise return on new business and repeat-customer marketing investment
- Develop and implement ‘Best in Class’ high-volume e-commerce retail pricing strategies for a broad range of customer segments. To date, these have been grouped by factors including risk and overall market size, however you will continue to test and refine these segments
- Work on corporate-wide analysis that sets direction for long-term pricing capability to ensure both long and short-term profitability
- Ensure pricing strategies are implemented to attain corporate profitability and volume metrics
- Develop best in class decision support processes to ensure accurate channel-level response and sales
- Own the analytical and tactical planning process for all consumer-facing pricing, and the data insight to maximise response
- Direct the distribution and management of the Pricing budgets. Direct the development and implementation of necessary projects and initiatives to ensure that all pricing policies are congruent with all regulatory pricing policies and mandates
- Develop retail (e-commerce) pricing analysis and recommendations in collaboration with Marketing and Aggregator Channel to optimize business opportunity, and present to the Trading Committee
- Develop, monitor and implement pricing strategies for risk-categories (products) to increase sales volumes and/or profitability
- Drive pricing, marketing response, & modelling analysis
- Own the financial analysis process to support all offers made to Customers
- Ensure all business cases that go before Trading Committee undergo rigorous analysis
- Ensure all pricing processes and procedures are compliant with FCA regulations
- Have accountability for monitoring and reporting policy performance that is used to inform pricing strategy
- Monitor competitive pricing information and the impact of other environmental factors that affect pricing decisions and strategies
- Partner with Marketing and Aggregator Channel to develop and execute channel specific strategies relating to contract pricing (e.g., offers/guidelines/keyword penetration)
- Hold a key role in setting profitability targets for the organization and implementing strategies and tactics to obtain agreed upon results
- Manage the Pricing Analytics function including the activities directly related to organisational metric development, methods for measuring business performance, and forecasting development.
- Oversee the analysis of the impact on pricing decisions/ recommendations on Avg. Realised Price/profitability
- Proactively drive price sensitivity/price elasticity studies for new and in-line products with resultant break-even elasticity results presented to Pricing/Brand/Executive management
- Work with Brand Management and Channel Directors to optimize pricing and marketing profitability, set launch pricing and perform pricing maintenance functions for all in-line brands
- Work with Product and Marketing to analyse pricing scenarios for all pipeline products
- Review and adjusts pricing strategies at key milestones
- Conduct research to support recommendation around launch
Education, Experience, Knowledge, and Skills:
- Let’s face it – although you’ll be able to be backed up with an analyst on your staff running all manner of modeling tools (i.e.; SPSS), you’ll be spending most of your time in front of dual computer monitors, and accordingly you’ll be a natural wizard at personally slicing and dicing data. You are hands-on.
- Aforementioned analysts running modeling tools will be doing so to search for various relationships in data, at your specific request and to your design, thus accordingly you’ll have deep experience in managing data scientists / analysts to do just that. You’ll know how to show, not just tell. Your team is there to back up your own analysis and do high volume theory elimination grunt-work, you are the primary analyst which is how you like it.
- Although this is an arbitrary duration, you’ll have progressive and practical experience in strategic and dynamic pricing (online list/retail).
- Perhaps you currently work in online pricing for a low-cost airline or travel fares website, perhaps in financial services, perhaps a major food retailer, perhaps for an energy or telecoms retailer, perhaps in online fashion retailing – but wherever it is, it is in a high-volume online e-commerce environment and you’ll be able to demonstrate a track-record of results.
- You’ll have a degree, possibly relating to data sciences or mathematics; at the very least one that demonstrates your deep and tender fondness for all things empirical and analytical
- You’ll have outstanding communication and interpersonal skills
Interested candidates should click on Apply now.