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COG Pricing Strategy & Revenue Optimization Mgr - Leisure Travel at Chubb in New York, New York

Posted in Insurance 30+ days ago.

Type: Full-Time





Job Description:

KEY OBJECTIVE:

 

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.

  • Actuary preferred

  • Advanced GLM modelling expertise

  • Data experience with A/B testing preferred

  • Travel Insurance product/price optimization experience preferred

  • Experience in underwriting Travel, Personal lines, A&H products is preferred

  • Ability to develop, drive and execute global strategies and best practices

  • Management skills including training and development

  • Strong analytical skills, data management  and database knowledge

  • Able to work independently or in a team environment

  • Strong communication skills, oral and written

  • Strong organizational skills with attention to detail





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