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Lead, SME and Strata Insurance Pricing



The Role

The purpose of the role and your unique contribution is to manage the day to day activities of a small pricing team, designing and recommending pricing strategies for SME and Strata products across CGU, NRMA, RACV, SGIO/C, SUU and WFI brands. Reporting to the Manager, Commercial Pricing and working closely with Portfolio Managers, you will identify the underlying risk drivers of performance affecting the current and future profitability of our portfolios and develop the appropriate book price positions. This role can be based in either Sydney or Melbourne. 


Key Responsibilities: 

  • You will play a lead role in a team of Specialists, Analysts and Graduates, including onboarding new joiners and training junior colleagues
  • You will oversee prioritisation of tasks within the team, resourcing assignment and ensuring deadlines are met
  • You will be responsible for managing the book pricing for the SME and Strata portfolios, responding to market and competitor movements in an agile and responsive manner
  • You will feed key insights to the Manager, Commercial Pricing, including escalation of material or compliance related issues that may arise
  • You will liaise with the Technical Pricing team to interpret the technical models and construct go-to-market prices which closely reflect the models
  • You will provide direction to the Rating Management team around proposed changes and pre-implementation testing
  • You will work closely with the Portfolio Managers to determine and sign off the book price position for the SME and Strata Portfolios
  • You will utilise technical pricing models developed by the Technical Pricing team as the basis for driving pricing strategies, overlaying other factors including portfolio targets, elasticity models and competitor price movements
  • You will support Portfolio Managers with insights into key segments that are driving material trends in performance and provide recommendations on pricing actions to deliver results against margin and growth targets
  • You will contribute insights into broader company initiatives including Budget setting
  • You will prepare for Earnix implementation and manage pricing strategies beyond go-live
  • You will ensure pricing strategies are compliant with IAG Pricing Principles
  • You will ensure price changes and existing pricing strategies meet Compliance and Legal standards and requirements
  • You will support the Manager, Commercial Pricing to provide input into risk reviews, audits and control testing


Skills & Experience

  • Relevant undergraduate degree or post-graduate qualification in Actuarial, Economics, Mathematics, Statistics or a related field
  • Minimum of 5 years General Insurance Pricing experience in a corporate or consulting environment in the Australian (non-reinsurance) market. Experience in SME, Strata or Home Insurance pricing is preferred
  • Strong leadership capability is required with preference of people management experience
  • Highly proficient in SAS and Excel
  • Proficiency in SQL, R, Python and Tableau is desirable
  • Ability to manage complexity and work with flexibility (being able to stay focused when directions change)
  • Strong problem solving and analysis skills with a focus on quality
  • Ability to build and maintain collaborative working relationships
  • Fellowship of the Institute of Actuaries (desired)


About Us

At IAG, we believe that everyone has a unique point of view to share, shaped by their life experiences, cultures & passions. We celebrate and commit to:

#Proud to be me – we value difference, not sameness

#Together – harnessing our collective wisdom enables us to be our best for our customers & each other

#No boxes – it’s not about labels, boxes or categories; It’s about building a diverse and inclusive mindset into everything we do

IAG is the largest general insurance group in Australia and New Zealand. We own some of the region’s most trusted brands, including NRMA Insurance, CGU, SGIO, SGIC and WFI.


Let’s Talk

Start your career journey with us and click ‘Apply’!

In addition to a diverse and inclusive culture, some of our benefits include 13% superannuation, 50% insurance discounts, flexible work and leave options, generous parental leave and return to work program, recognition and reward program, and various corporate partner discounts.


At IAG we strongly believe to achieve success we must create a diverse and inclusive workforce. We encourage applications from all backgrounds and communities. IAG have committed to the reconciliation movement in Australia for First Nations people and focus on building a diverse culture by creating a safe and supportive work environment for all our employees.

More information on our Reconciliation Action Plan can be found on our website: https://www.iag.com.au/reconciliation.