3 weeks ago
Job title : Group Insurance Pricing Specialist – Cape Town
Job Location : Western Cape, Cape Town
Deadline : July 10, 2024
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Requirements
- Minimum matric with exemption including Mathematics (Pure) and Accounting/Physical Science.
- Bachelor’s degree in Commerce, Mathematics or Statistics is preferable.
- 2-5 years’ work experience in the Insurance, Employee Benefits or other Financial Services industry is preferable,but not a pre-requisite.
- Work experience in Group Risk pricing is preferable, but not a pre-requisite.
- Good MS Word and MS Excel skills.
- MS Access, SQL or Visual Basic experience will be an advantage.
Duties & Responsibilities
INTERNAL PROCESS
- Screening and analysing new and existing business pricing requests.
- Gathering, assessing and analysing all relevant information needed to produce a new business tender or rate renewal.
- Review existing business premium rates, terms and conditions
- Compiling, analysing and monitoring claims experience for new and existing business.
- Assessing and calculating the risk rate and underwriting requirements for the products requested, utilising the current pricing tools.
- Determining suitable terms and conditions in order to effectively manage risk.
- Extracting data from existing systems, as well as validation and manipulation of the data.
- Accurate recording of data for business intelligence and reporting.
- Consider wider topics of risk management such as occupational and industry risks.
- Internal and external client liaison/collaboration with regards to rates, products and other risk issues.
- Build and improve current models and internal processes.
- Assisting with ad hoc projects and calculations, e.g. Disability buy-outs, profit sharing calculations and reinsurance comparisons.
- Assist with risk calculations and provide technical support to the FundsAtWork Pricing department.
- Ensure that all authorisation protocols, tools and systems are adhered to and are used correctly and effectively
CLIENT
- Build a strong relationship with the sales channel so that existing business is retained at profitable rates while new business is secured with appropriate margins.
- Build and maintain relationships with relevant organisation’s to ensure in-depth knowledge of all related acts,regulations and regulatory frameworks.
- Compile, monitor and deliver on service level agreements with internal and external stakeholders to meet or exceed client expectations.
- Ensure satisfactory resolution of all queries and problems.
- Participate in the design and application of a stakeholder feedback capability in respect of service delivery.
- Track and address Product Pricing related complaints andidentify trends and major issues to be addressed.
PEOPLE
- Enhance the image of MMH through professional client liaison:
- Internally and externally with other Departments/ Brokers/Employers/ Members/Reinsurers.
- Work together with consultants to support client retention and new business acquisition via excellent customer service and maintaining excellent client and broker relationships.
- Provide technical pricing guidance and support to the Sales Channel and other departments.
FINANCE
- Ensure rates and underwriting requirements provided mitigate financial risks.
- Increase profits and ensure rates provided are sustainable.
- Contribute towards reducing departmental operating costs.
Competencies
- Analytical thinking (including problem identification and problem analysis).
- Attention to detail.
- Be able to work well independently and also within ateam.
- Excellent people skills.
- Self-management and accountability.
- Live and uphold the MMH values.
- Quality and service oriented.
- Excellent communication and presentation skills (written and oral).
- Good judgment, effective decision making and problem-solving.
- Data management skills.
- Time management, flexibilityand adaptability.
- Planning and organizing.
How to Apply for this Offer
Interested and Qualified candidates should Click here to Apply Now