If you’re involved in the world of insurance pricing - or you’re curious about what your next career move might earn in 2025 - you’re in the right place. This guide dives into the current trends, salary benchmarks, and expectations in this highly competitive industry.
Insurance pricing: a snapshot of the current scene
Insurance pricing roles have evolved dramatically in recent years. With a growing focus on data analytics, emerging technologies, and shifting market dynamics, employers are increasingly investing in getting the best talent. Recent industry insights reveal that salary packages for insurance pricing professionals have risen significantly. For example, base salaries for experienced pricing professionals have increased by roughly 5 - 8% compared to previous years (Source: Insurance Pricing Salary Survey 2024).
What employers should be paying for insurance pricing talent
When setting salary benchmarks, employers should consider several key factors:
Experience and Expertise
Regional Variations
Bonuses and Benefits
Work Flexibility (Remote / Hybrid)
Comparative salaries for the London region
| | 2024 | | | 2023 | 2022 | | 2025 |
Role | Min | Average | Max | | Average | Average | | Projection |
Actuary | £79,200 | £94,700 | £110,100 | | £88,800 | £91,900 | | £99,500 |
Senior Pricing Analyst | £52,500 | £62,000 | £72,100 | | £58,800 | £57,200 | | £62,500 |
Leading Pricing Analyst / Specialist | £62,000 | £80,0000 | £94,000 | | £78,400 | £76,800 | | £85,300 |
Assistant Underwriter | £41,500 | £49,300 | £57,000 | | £48,300 | £51,000 | | £51,900 |
Compliance Director | £116,000 | £131,400 | £146,900 | | £131,000 | £128,700 | | £138,300 |
Compliance Officer | £55,900 | £62,900 | £69,800 | | £52,800 | £60,400 | | £66,000 |
Financial Advisor | £55,600 | £70,500 | £85,300 | | £69,200 | £61,100 | | £74,100 |
IFA Admin Manager | £59,600 | £69,600 | £79,700 | | £66,700 | £66,000 | | £73,100 |
Insurance Account Executive | £48,800 | £57,500 | £66,300 | | £55,800 | £50,500 | | £60,500 |
Insurance Account Handler | £35,400 | £38,600 | £41,700 | | £40,200 | £35,000 | | £40,500 |
Insurance Claims Manager | £57,900 | £64,400 | £70,800 | | £54,700 | £59,500 | | £67,800 |
Insurance Risk Manager | £95,900 | £109,600 | £123,400 | | £88,700 | £93,700 | | £115,300 |
Insurance Sales and Business Development | £33,400 | £40,800 | £48,200 | | £39,600 | £35,700 | | £42,900 |
Source: Linked In, Reed, CV Library
Regional Insights
London has traditionally been the global centre for general insurance and financial services. With global head offices spread across the City, Lloyd’s has continued to have an enormous influence on the ongoing development of the markets.
General insurers have continued the adoption of AI & ML. With the increased use of Data Science techniques, the Insurance Pricing sector is continuing to move from purely Actuarial based pricing to a blend of both. This is providing Insurance companies with a competitive advantage with greater accuracy over their pricing models.
Work patterns have shifted permanently and the need for employers to continue to offer flexibility has never been more important. In terms of pay expectations, in what remains a candidate-short market, with more vacancies than suitable
applicants, our data continues to illustrate a year-on-year rise in basic salaries. Drilling deeper into employee benefits has revealed high-bonus packages are anticipated in 2025, with employers striving to stay ahead of their competition by offering ever more attractive professional development and benefits packages.
Candidates looking to enhance their career should look forward confidently this year. Two critical elements as always remain: look for career progression and brand opportunity. Talking to an expert recruiter with an established network can unlock new opportunities, and help professionals make a considered and sensible career move
What top insurance pricing talent is expecting
Insurance pricing candidates today are not just looking for a good salary. They are also searching for roles that offer:
Growth Opportunities: Professionals increasingly expect clear paths for career progression. Transparent promotion criteria and regular training opportunities are key factors that attract top talent.
Work-Life Balance: The rise in flexible and remote work options means candidates now prioritise roles that support a healthy work-life balance.
Tech-Forward Environments: With the digital transformation impacting every aspect of insurance, candidates are drawn to roles that utilise cutting-edge tools and analytics platforms.
(Source: Insurance Pricing Talent Trends Report 2024)
Interestingly, surveys indicate that nearly 65% of candidates now prioritise companies that demonstrate robust digital strategies and a commitment to continuous learning (Source: Insurance Pricing Talent Trends Report 2024).
Insurance pricing:
The landscape of insurance pricing careers in 2025 is both dynamic and competitive. For employers, staying abreast of industry standards, offering comprehensive benefits, and investing in technology and talent development is essential. For professionals, finding roles that combine competitive pay with clear growth paths, work-life balance, and technological innovation is key.
Whether you’re negotiating a new role or setting up salary bands within your organisation, this guide should serve as a valuable reference in navigating the ever-evolving world of insurance pricing careers.
If you are looking to hire insurance pricing specialists or an insurance pricing professional looking for your next step, reach out to insurance pricing and data analytics expert Stuart Daniel, who would be happy to help - 0788 7870070 | stuart.daniel@gerrardwhite.com
