Economic Pricing Specialist
Job ID : 6736
Category : Commercial Insurance
Brand : Economical
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Toronto, Canada
Economical is part of Definity, which includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. With strong roots that date back to 1871, Definity has grown to become a digital leader in the insurance industry. We’re proud to help our clients and communities adapt and thrive in a world of constant change.
Our promise to you: It’s better here. Why? Because we CARE, and we provide an employee experience that’s collaborative, ambitious, rewarding, and empowering.
Our ambition is to be one of Canada’s leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.
Definity offers a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Leaders partner with their teams to find the right balance of on-site and remote work that best meets the needs of their teams, colleagues, brokers and customers, while ensuring collaboration, teamwork and accountability for goals.
We are looking for an experienced pricing professional to join our Commercial Insurance team reporting to the VP, Commercial Insurance. The insurance pricing function, traditionally reliant solely on supply-side actuarial costing methods, could benefit from the diverse perspectives and methods that exist in pricing functions outside of the insurance industry. You shall collaborate closely with cross functional partners and the Senior Leadership Team with the ultimate objective to achieve target profitability and competitive positioning in the market.
What can you expect in this role?
- Analyze demand-side metrics (quote counts, bind ratios, retention, etc) through the lens of economic price optimization. Suggest pricing changes based on the outcome of analysis.
- Work with actuarial pricing team to explore and understand differences in results between actuarial and economic pricing analysis. Identify opportunities for growth at the intersection of competitiveness and profitability.
- Present findings to Pricing team and CI senior leadership. Participate in CI pricing strategy discussions.
What do you bring to the role?
- Bachelor’s degree, ideally in economics / mathematics / finance / statistics / business, or equivalent
- 10+ years developing data-driven pricing strategies in an industry outside of insurance
- Proficiency in pricing software and programming languages (Data analysis, Excel, VBA, SQL, etc.)
- Collaboration, self-starter, entrepreneurial mindset, intellectual curiosity
- Excellent analytical and problem-solving skills
- Ability to work independently and collaborate with cross-functional teams
- Strong communication and presentation abilities to convey complex concepts effectively
We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.
Go ahead and expect a lot — you deserve it, and we’ve got it:
- Hybrid work schedule for most roles
- Company share ownership program
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: [email protected]
This role requires successful clearance of a background check (including criminal checks and leadership references).