Director, Product Pricing

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

The Director, Product Pricing role holder will report to the Group Director, Products and will be responsible for overseeing pricing and technical areas within the remit of the Group Product function. This is a pivotal role in the newly established Group Product function, and will play a key role in helping establish the new target operating model. The role requires a strong technical actuary, with the passion to work in a fast-paced environment bringing industry best practice and a willingness to go above and beyond.

Key Responsibilities :

Product Pricing

• To collaborate with the Group Product and Customer team to ideate and develop new insurance products that meet the needs of all stakeholders. Work with Group Agency and Group Partnership Distribution on refining product features and compensation schemes while ensuring products financial viability, profitability and customer value.
• To lead the pricing for Group HNW products, ensuring that premiums are fair to customers, whilst company financial outcomes can be met.
• Lead the negotiations with reinsurers, and collaborate with Group Actuarial to optimise the value from reinsurers.
• Support LBUs pricing team. Ensure industry best practice in pricing techniques and methodology is applied across all LBUs.
• To ensure key stakeholders are well informed and managed throughout the product approval process, including the Group Chief Actuary, Group Finance as well as Group Risk. To recommend and assess changes over time to Prudential’s product governance.
• Support the Group and LBUs in addressing specific business issues such as the financial outcomes of possible strategic and commercial decisions, introduction of new regulations, actuarial model changes etc

Education and Experience