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Jeddah , Saudi Arabia
Posted 2020/12/16 09:42:45
Expires 2021-02-14
Ref: JB4262484
Job Description
- ROLE PURPOSE:
To manage contract renewals and new business to achieve highest retention rates and secure growth and profitability of the corporate portfolio to support achievement of Bupa Arabia business objectives
- ACCOUNTABILITIES:
- Corporate Pricing and Underwriting (Renewals):
- Provide precise assessment of risk to support Relationship Team in achieving the highest retention rates for profitable business.
- Estimate the impact of product changes on the contract performance and revise premiums accordingly.
- Agree on final corporate renewal rates.
- Discuss, negotiate and explain quotations and technical results to Relationship Team to ensure complete understanding and agreement on final prices and product changes.
- Revisit the benefits of high loss ratio accounts and recommend product changes and/or adequate price increases to enhance profitability.
- Corporate Pricing and Underwriting (New Business):
- Evaluate the risk profile and set the adequate premiums using the pricing model and product specifications provided by the Account Managers.
- Follow the pricing policy guidelines to consider and approve additional benefits over and above the regulated CCHI policy.
- Renewals Workflow:
- Coordinate with the corporate renewal pricing team to ensure accurate interpretation of results.
- Pricing Model and Strategy:
- Adjust periodically the pricing model and the loading factors according to the provider trends and their movements among the networks.
- Prepare related Cognos reports.
- New Product Development:
- Manage the pricing of new products and set the appropriate risk controls and contribution margins.
- Clients’ Reports:
- Manage the automated and ad hoc reports (frequent users report, management information report) and ensure that they are in line with projected technical results.
- Provide the Relationship Team with customized reports that evaluate contracts past experience and attribution.
- Department reports:
- Manage the monthly reports and provide updates of department KPI’s (retention rate, price increases…)
- Conduct simulations and reports to support management in setting the pricing strategy.
- Automation & Digitization:
- Initiate automation and digitization pricing and reporting activities.
- Leverage technology solutions to further strengthen the pricing control environment.
Skills
• Quantitative analysis.
• Accounting, Finance, and exposure to Underwriting and/or Insurance Industry.
Education
• BS / MS Mathematic/ Actuarial Science / Finance / Economics.
Job Details
Job Location
Jeddah , Saudi Arabia
Job Role
Accounting/Banking/Finance
Employment Status
Full time
Employment Type
Employee
Preferred Candidate
Career Level / Band
Mid Career
Years of Experience
Min: 3 Max: 5
Nationality
Saudi Arabia
Minimum Degree
Bachelor's degree