Assistant Manager Pricing Analytics

Overview

Assistant Manager Pricing Analytics

Job Purpose

Budget & Cost Control

• Assists Senior Manager in preparing the Department’s annual budgets in line with overall Services function’s budget and monitor financial performance versus the budget so that the business is aware of anticipated costs / revenues, areas of unsatisfactory performance are identified and potential performance improvement opportunities are capitalised upon.

Policies, Processes & Procedures

• Assists senior managers in developing the implementation of efficient policies, processes, procedures, controls and guidelines for the Pricing Analytics department so that all relevant procedural/ legislative requirements are fulfilled in accordance with global best practices within the insurance sector while delivering a quality, cost-effective service to customers.

Underwriting Activities

• Performs Pricing analysis and maintains integrity of the pricing database and run the price reporting on weekly basis for the management
• Derives key insights and form appropriate pricing actions from the price reporting and works closely with the Pricing team members to actions these insights
• Runs appropriate deep-dive data analysis to support Pricing decisions as required
• Performs data research and statistical analyses to solve problems.
• Performs regular product matching /pricing adequacy across all supported product categories
• Supports initiatives to improve Price Competitiveness, Outlier processes and Smart Pricing opportunities
• Assists in identifying actions to drive price perception improvements across each Customer Universe including but not limited to; identifying new Image Line opportunities and the identification & communication of value to customers
• Recommends solutions and enhancements to current insurance products
• Creates Prescriptive Analytics / Actionable intelligence capabilities for impactful decision making especially in areas like Price optimization
• Analyses and synthesizes both quantitative and qualitative data to develop compelling pricing strategy
• Recommends pricing strategies and models based upon current business and competitive market dynamics. Forecasts impact of pricing changes on profit and revenue.
• Develops analytical solutions and models leveraging advanced analytics tool
• Works with Underwriting, Marketing, and other divisions to improve processes and reduce barriers to success
• Provides product training throughout the organization as necessary
• Performs advanced statistics using data analyses methods in innovative research and modelling
• Participates in the decision-making process for evaluation of new ideas and pricing positions.
• Prepares monthly reports, dashboards and metrics, and presents results and recommendations to a variety of audiences, including senior management

Reports

• Minimum Bachelor’s Degree

• Certificate in Insurance (CII), Associate in Risk Management (ARM), Associate or Diploma in Chartered Insurance Institute (Dip CII or ACII), Associate in Insurance Services (AIS), Associate in Commercial Underwriting (AU), Fellow Insurance Institute of India (FIII).
• Requires 5 to 7 years of relevant experience
• Full Professional Proficiency in English language