Management of COG Travel pricing frameworks and strategies, including but not limited to: multivariate pricing models, standardization of rating models, development of regional benchmark models, yield optimization and partnering with other functional areas to enhance dynamic pricing capabilities globally
MAJOR DUTIES & RESPONSIBILITIES:
Pricing:
Management and development of multivariate pricing algorithms, giving Chubb Travel Insurance market leading price granularity and pricing sophistication
Management, development and implementation of global, regional and local benchmark rating models
Incorporate additional rating variables into benchmark rating models to increase granularity
Assist regional teams with the technical notes pertaining to granular rate filing in relevant markets
Manage portfolio management frameworks across all regions
Develop and document global best practices for pricing
In conjunction with the revenue maximization lead, increase data capabilities and develop pricing models and algorithms to support A/B tests, rate optimization, yield management strategies to maximize conversion, revenue and profitability
Management and development of automated performance monitoring tools related to pricing. In conjunction with data resources and underwriting
Development and management of a centralized repository of rate tables to enable underwriters and actuaries to research and access benchmark rates across distribution channels and countries
Collaborate with underwriting, actuarial and predictive modeling to improve pricing infrastructure to enable dynamic rating and speed to market for price testing
Support pricing and rate modelling on key accounts in conjunction with underwriting and actuarial
Support rating models and data analytics in conjunction with global and regional digital analytic teams to help accelerate and optimize digital distributions
Yield Optimization
Integration and consolidation of underwriting profitability, pricing segmentation and revenue maximization models to optimize yield management and sustainable profit
Development and implementation of price optimization/yield management pricing models, ownership of the pricing model for Price/Yield Management
Development and implementation of price-related A/B testing and yield management data strategies
Development and execution of a Yield Management/Price Optimization multi-year roadmap, building capabilities, by region, to implement incremental technology and pricing tactics
Develop and manage centralized analytics, tracking price optimization tests globally
Integrate loss cost models and yield management analytics to drive profitable growth
Provide recommendations to regional leads to implement price tests; develop close partnerships at the regional level across LATAM, EMEA, APAC, and Japan Regions
Development of best practices for price optimization/yield management for Travel line of business
Work closely with management and functional areas to enhance dynamic pricing capabilities and prioritize business needs related to price optimization/yield management
Work with the Underwriting, Product Managers, Predictive Analytics and Actuarial teams to support the go-forward strategy for pricing.
Business Intelligence and Data Management
Centralized data management including exposure, claims and conversion data and develop and manage data processes, ensuring objectives and prioritization is aligned with the business strategy
Incorporate TPA data into centralized repositories
Develop and manage centralized MIS reporting capabilities, using dashboards to empower local and regional teams with multi-variate analytics and reporting
Minimum of 5-7 years Underwriting/Product Management/Yield Management/Predictive modeling
Minimum of 5-7 years of data analytics experience
Bachelors in applied technical field such as Statistics, Mathematics, Risk Management, etc.