Corporate Pricing Analysis
3 weeks ago
Manage precise assessment of risk to support the Relationship Team in achieving the highest retention rates for profitable business.
- Estimate the impact of product changes on contract performance and revise premiums accordingly.
- Approve final corporate renewal rates and ensure the overall monthly increase is in line with AOP targeted contribution.
- Discuss, negotiate with and explain quotations and technical results to Relationship Team to ensure complete understanding and agreement on final prices and product changes.
- Review the benefits of high loss ratio accounts and recommend product changes and/or adequate price increases to enhance profitability.
- Evaluate the risk profile and set adequate premiums using the pricing model and product specifications provided by the Account Managers.
- Manage the corporate renewal pricing process through monthly meetings with Sales Director and Regional Managers.
- Supervise the corporate renewal pricing team to ensure accurate interpretation of results.
- Ensure changes in regulations on pricing and risk assessment are incorporated into the pricing model
- Recommend adjustments to the pricing model and the loading factors according to provider trends and their movements among the networks.
- Ensure the pricing strategy set by the leadership team is implemented and feedback to management on market trends to update the strategy accordingly.
- Manage the pricing of new products and set the appropriate risk controls and contribution margins.
- 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.
- 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.
- Increase the team’s productivity by automating and digitizing pricing and reporting activities.
- Leverage technology solutions to further strengthen the pricing control environment.
- Leads team goal setting, manages and constantly reviews team and individual performance and provides regular feedback, coaching and development.
- Motivates, empowers and enables direct reports by providing the necessary tools and support required to achieve departmental objectives.
**Skills**:
- Quantitative analysis.
- Accounting, Finance, and exposure to Underwriting and/or Insurance Industry
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