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• Ensure that the rates are adequate and competitive, risk is contained by efficient risk controls, results are closely monitored and improved processes
• Define the yearly rate tables for all retail products based on medical experience, customer behaviour, market trends and required contribution set in the annual operating plan.
• Constantly improve the risk controls across all the retail products to protect the business from high losses caused by pre- existing medical conditions, anti-selections, fraud attempts and possible abuse to the insurance.
• Manage the retail pricing function and continuously improve and automate the processes, the pricing module and workflow in order to support the growth of the retail segment.
• Manage the reporting of the results achieved by each product across all distribution channels on a monthly basis and keep the business aware of the performance and acheivements YTD against AOP and alert the management of any possible risk of sudden loss, change in customer behaviour for both corporate and retail segments.
• Report the monthly performance retail segments on month-end
• Constantly observe the daily productivity and achievements MTD of every product across all distribution channels to ensure alignment with the set targets for corporate and retail
• Ensure a healthy mix of members and highlight any possible abuse or abnormal usage across all distribution channels.
• Lead the pricing of new products and set the appropriate risk controls and contribution margins.
• Create and update the pricing policies and guidelines for the Corporate and Retail segments.
• Ensure proper documentation and record keeping across the Pricing department.
• Liaise with the external actuaries for completion and submission of the actuarial reports to SAMA within the deadline specified.
• Supervises the medical underwriting process and constantly improve it toensure consistancy, fairness and best practice are applied.
• Ensure proper medical evaluation and appropriate loading percentages are applied to groups with medical conditions.
• Manage the Medical Declaration Policy and ensure it always meets the required objectives of minimising the risk without impacting negatively customer experience.
• Monitor the payment flexibility terms for retail contracts to ensure adherence to payment terms policy and minimize the impact on the provision by maintaining a balance between bad debt expense and client retention.
• 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 Recruitment Objectives
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