Corporate Pricing

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

Key Accountabilities:

1-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.

2-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.

3-Renewals Workflow:

• Coordinate with the corporate renewal pricing team to ensure accurate interpretation of results.

4-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.

5-New Product Development:

• Manage the pricing of new products and set the appropriate risk controls and contribution margins.

6-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.

7-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.

8-Automation & Digitization:

• Initiate automation and digitization pricing and reporting activities.
• Leverage technology solutions to further strengthen the pricing control environment.

• Quantitative analysis Experience.
• Accounting, Finance, and exposure to Underwriting and/or Insurance Industry.

Bachelor Degree: MS Mathematic/ Actuarial Science / Finance / Economics.