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.
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.
Skills
- Strong analytical and decision-making skills
- Excellent communication and negotiation skills
- Collaboration and cross-functional teamwork
- Proficiency in English and Arabic (written and spoken)
- Adaptability and problem-solving mindset
Education
Bachelor's or Masters degree in Actuarial Science, Finance, Economics or Mathematics.