SME Pricing
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Key skills for this role
About the Role
Bupa is seeking an SME Pricing Specialist in Jeddah to support strategic pricing and underwriting for the SME portfolio. The role involves rate analysis, performance monitoring, product development, and automation.
Key Skills for This Role
Responsibilities
- Execute SME pricing strategies and assist with rate analysis
- Monitor pricing adequacy and loss trends
- Assist in enhancing underwriting guidelines, performing audits, and supporting quality assurance reviews
- Continuously improve and maintain pricing models and tools
- Discuss, negotiate and explain quotations and technical results to Sales team
- Track product performance metrics such as premium growth, loss ratios, retention, and new business conversion
- Perform variance analyses to identify drivers of performance gaps and communicate actionable insights
- Collaborate on design and pricing of new SME products
- Draft and regularly update pricing frameworks, underwriting guidelines, and operational procedures
- Assist in transforming manual tools into digital platforms
Requirements
- Quantitative analysis skills
- Accounting, Finance, and exposure to Financial Services markets
- Data visualization skills
- BS/MS in Mathematics, Actuarial Science, Finance, or Economics
Full Job Posting
ROLE PURPOSE
- To support the strategic pricing and underwriting activities for the SME portfolio, profitability, and operational efficiency. Supports performance monitoring, product development, automation.
SME Pricing and underwriting
- Execute SME pricing strategies and assist with rate analysis.
- Monitor pricing adequacy and loss trends.
- Assist in enhancing underwriting guidelines, performing audits, and supporting quality assurance reviews to maintain portfolio health.
- Continuously improve and maintain pricing models and tools, ensuring they are aligned with evolving market needs and regulatory requirements.
- Discuss, negotiate and explain quotations and technical results to Sales team to ensure complete understanding and agreement on final prices.
Overall SME Performance monitoring
- Track product performance metrics such as premium growth, loss ratios, retention, and new business conversion across various distribution channels.
- Perform variance analyses to identify drivers of performance gaps and communicate actionable insights to relevant stakeholders. Analyze customer behavior and trend shifts to proactively adjust pricing or underwriting strategies.
New Product Development
- Collaborate on design and pricing of new SME products.
- Help establish risk controls and contribution margin goals to ensure sustainability and competitiveness of new products.
Documentation
- Draft and regularly update pricing frameworks, underwriting guidelines, and operational procedures.
- Ensure proper documentation and record keeping across commercial finance.
Automation & Digitization
- Assist in transforming manual tools into digital platforms, improving accessibility, efficiency, and accuracy.
- Collaborate on the implementation of technology solutions such as pricing engines, workflow automation, or data visualization tools.
- Support testing, deployment, and user training for new digital tools.
People Management
- Collaboration Work cross functionally with key teams including sales, finance, and IT to align on pricing and underwriting initiatives.
- Support knowledge sharing within the pricing team to build collective expertise and improve outcomes.
Skills
- Quantitative analysis.
- Accounting, Finance, and exposure to Financial Services markets.
- Data visualization.
- BS/MS Mathematics/Actuarial Science/Finance/Economics.
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