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Manager - Corporate Pricing

3.00 to 7.00 Years   Khobar, Saudi Arabia   17 May, 2022
Job LocationKhobar, Saudi Arabia
EducationBachelor's degree / higher diploma
SalaryNot Mentioned
IndustryInsurance & TPA
Functional AreaNot Mentioned

Job Description

  • 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.
  • 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.
  • Coordinate with the corporate renewal pricing team to ensure accurate interpretation of results.
  • Adjust periodically the pricing model and the loading factors according to the provider trends and their movements among the networks.
  • Prepare related Cognos reports
  • Manage the automated reports (frequent users report, management information report) and ensure that they are in line with the projected technical results.
  • Provide and support Relationship Team with customized reports that evaluate contracts experience and attribution.
  • Manage the monthly reports and provide updates of the department KPI?s (retention rate, price increases?)
  • Conduct simulations and reports to support management in setting the pricing strategy.
  • Manage the payment flexibility terms for renewals and new business contracts.

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