Manager, Pricing

Chubblifefund; Malaysia; On-site; MYR 50,000 - 70,000; Full time

Job summary

Chubblifefund in Malaysia is seeking a professional to develop and implement pricing strategies to optimize profitability in motor insurance. This role requires monitoring market trends, conducting pricing analyses, and ensuring compliance with regulatory requirements.

Key responsibilities include preparing rate filings, conducting competitive analyses, and collaborating with cross-functional teams. An analytical mindset and strong understanding of pricing frameworks are essential.

Responsibilities

• Develop and implement pricing strategies for motor insurance products.
• Conduct detailed analysis of loss costs and statistical models for pricing.
• Prepare and submit rate filings to regulatory authorities.
• Monitor and analyze competitor pricing and market trends.
• Ensure timely and accurate execution of pricing strategies.
• Provide analytical support in developing new product ideas.
• Accountable for compliance with motor and fire related policies.
• Adhere to Chubb’s policies and Bank Negara Malaysia regulations.

Job description

Key Objective

To develop and implement pricing strategies to optimise profitability and competitive positioning

Major duties and responsibilities

• Pricing Strategy Development: Develop and maintain pricing strategies for motor insurance products, considering factors such as market trends, competitive analysis, and regulatory requirements
• Pricing Analysis: Conduct detailed analysis of loss cost and statistical model to provide insights and determine appropriate pricing.
• Rate Filing: Prepare and submit rate filings to regulatory authorities, ensuring compliance with legal and regulatory requirements.
• Competitive Analysis: Monitor and analyse competitor pricing and market trends to identify opportunities for growth and make recommendations for adjustments to pricing strategies.
• Pricing System Implementation: Ensure pricing strategies are executed timely and accurately.
  Performance Monitoring: Work along side with Actuarial, Portfolio and Data Analytic team in portfolio monitoring and tracking of key performance indicators. Identify areas for improvement and take necessary corrective actions.
• Product Development Support: Provide analytical support in developing new product idea and pricing the product.
• Compliance – Accountable for adherence to all motor and fire related policies / frameworks / guidelines / SOPs, and for ensuring accurate, timeliness and completeness of work. Repeated lapses or non adherence to policies and procedures will result in performance and consequence management actions in accordance with Company guidelines.
• Compliance – Ensure adherence to Chubb’s policies and procedures for motor and fire underwriting and processing, which adopted the requirements under Bank Negara Malaysia’s policy document, guidelines and specification letters on ‘Phased Liberalisation of Motor and Fire Tariffs’ and the relevant governance process on pricing, product approval and performance monitoring for motor and fire business.
• Any other duties as assigned