Group Insurance Pricing Specialist - Cape Town at Momentum Metropolitan Holdings Limited

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.