Specialist - Motor Pricing
Riyadh, Riyadh Province, Saudi Arabia · Full Time
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- Experience
- Any
- Salary
- —
- Openings
- 1
- Posted
- 3 weeks ago
- Work mode
- In office
- Eligibility
- Candidates with experience in insurance pricing or actuarial roles within financial services sectors are encouraged to apply.
- Resume
- Required to apply
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Job description
Role Overview
As a Specialist in Motor Pricing at Tawuniya based in Riyadh, you will develop and maintain pricing frameworks, refine actuarial models to enhance risk assessment and premium calculations, and manage contract risks to ensure regulatory compliance and pricing accuracy.
Key Responsibilities
- Consolidate research and benchmarking insights related to best practices and current regulations to formulate pricing policies, frameworks, and procedures.
- Design and implement plans to integrate pricing regulations set by external bodies such as SAMA, ensuring corporate adherence.
- Develop predictive pricing algorithms by identifying relevant factors for demand and risk models that facilitate accurate pricing and risk evaluation.
- Collaborate with Transformation and Technology departments to translate business requirements into effective analytical tools and dashboards.
- Participate actively in development workshops to guarantee effective implementation of pricing solutions.
- Perform ongoing testing and system assessments to detect and resolve issues related to pricing models.
- Monitor contract portfolios, identify high-risk contracts, and coordinate re-assessment procedures with Underwriting teams.
- Define pricing key performance indicators (KPIs), perform performance tests on pricing models, and produce detailed reports highlighting areas needing corrective measures.
- Contribute to improving policies, procedures, and processes to boost productivity and ensure compliance with regulatory standards.
Qualifications and Skills
- Strong experience in actuarial modeling and predictive algorithm development for pricing.
- Familiarity with insurance regulations, particularly pricing standards related to SAMA.
- Competence in creating analytical tools and dashboard requirements.
- Ability to conduct thorough performance testing and data-driven reporting.
- Excellent collaboration and communication skills to liaise effectively with cross-functional teams.
Eligibility
Open to candidates with relevant experience in pricing or actuarial functions within insurance or similar financial sectors.