The Opportunity
In today’s fast‑evolving financial services landscape, insurers are under tremendous pressure to modernise their product portfolios, strengthen pricing sophistication, and accelerate time‑to‑market.
As a Business Transformation consultant specialising in Insurance Product & Pricing, you will help insurers translate their strategic aspirations across product development, pricing, and portfolio optimisation into meaningful and measurable change. You will work at the intersection of product strategy, pricing and actuarial design, customer value propositions, operating model transformation, and data‑driven decision‑making, partnering with leading insurers to build future‑ready insurance products.
Business Transformation consultants at EY are strategic thinkers and change drivers. Working across the Financial Services sector, you will collaborate with experts in actuarial and product, customer strategy, operations, digital, data, and technology to design, build, and run tomorrow’s product ecosystems.
They embrace an outcome‑oriented culture, live EY’s core values, and collaborate widely to consistently deliver value‑adding client outcomes.
Your Key Responsibilities
- Work within the Business Transformation team focusing on product strategy, product development operating models, pricing frameworks, portfolio optimisation, and customer value proposition design.
- Support senior leaders in developing client insights, including product portfolio diagnostics, pricing adequacy assessments, profitability and margin analysis, and coverage gap analysis.
- Collaborate across multi‑disciplinary EY teams to develop end‑to‑end solutions that address insurer pain points related to product complexity, pricing effectiveness, margin pressure, regulatory compliance, and speed‑to‑market.
- Prepare high‑quality deliverables such as product and pricing business cases, product operating model designs, transformation roadmaps, and executive presentations tailored to client needs.
- Participate in business development activities, assisting in the creation of proposals, point‑of‑view papers and thought leadership related to insurance product and pricing transformation.
- Form part of project delivery teams, taking ownership of workstreams involving product and pricing analysis, data analysis, problem structuring, stakeholder interviews, and solution design.
- Support change management and implementation activities to ensure successful adoption of new product governance models, pricing methodologies, approval processes, and digital product tools.
Skills and Attributes for Success
- Passion for transforming insurance products and pricing.
- Strong interest in solving commercial, actuarial, and product‑related challenges faced by insurance product and pricing teams.
- Ability to understand both business drivers and technology enablers—including pricing engines, actuarial models, product configuration tools, underwriting rules, and policy administration systems.
- A mindset oriented towards data‑driven product and pricing decisions, always seeking opportunities to streamline product development and pricing processes.
- Strong analytical and structured problem‑solving skills, with the ability to link risk, pricing, and profitability insights to commercial outcomes.
- Excellent communication and storytelling skills. Able to translate technical, actuarial, or pricing‑related issues into clear, compelling recommendations for senior stakeholders.
To Qualify for the role, you must have
- Minimum 9 years of experience in the insurance industry or consulting, ideally in areas related to product development, pricing, actuarial, underwriting strategy, or portfolio management.
- Strong capabilities in problem‑solving, quantitative analysis, and structured storylining.
- Excellent communication and stakeholder management skills, with proven experience in client‑facing environments.
- Strong experience in business analysis, with familiarity in assessing product and pricing KPIs such as loss ratios, pricing adequacy, profitability, product performance, and persistency.
Ideally, you should also have
- Experience working with stakeholders across the insurance ecosystem such as Product and Pricing / Actuarial, Distribution, Marketing, Operations, Finance, Technology, and Compliance.
- Prior consulting experience in Financial Services, or exposure to product, pricing, or underwriting transformation programmes.
- Knowledge of key challenges faced by insurers today (e.g., margin compression, product complexity, pricing competitiveness, regulatory scrutiny).
What working at EY offers
We offer a competitive compensation package where you will be rewarded based on your performance and will be recognised for the value you bring to our business. We also offer you:
- Continuous learning: You’ll develop the mindset and skills to navigate whatever comes next.
- Success as defined by you: We’ll provide the tools and flexibility, so you can make a meaningful impact, your way.
- Transformative leadership: We’ll give you the insights, coaching and confidence to be the leader the world needs.
- Diverse and inclusive culture: You’ll be embraced for who you are and empowered to use your voice to help others find theirs.
If you can demonstrate that you meet the criteria above, please contact us as soon as possible.
The exceptional EY experience. It’s yours to build.
