Recent years have seen an expansion of our group health business beyond the traditional Cigna markets of Hong Kong and Singapore into Australia and Thailand with further country expansions likely in the future.
As such, there is an exciting and imminent need and opportunity for us to better develop, deploy and manage our underwriting capabilities, tools, teams and best practices across the region.
This newly developed role will be responsible for developing and driving the underwriting strategy to support the enterprise goals of affordability and simplicity in all of our market facing underwriting and pricing deliverables.
With a competitive landscape as the backdrop we have the imperative to ensure that we engage finance, actuarial and commercial teams to ensure the regional underwriting practice responds timely and accurately to all key stakeholders to ensure Cigna is the pre-eminent insurer of choice while driving positive financial outcomes for Cigna, customers and shareholders.
The ideal candidate will have a keen commercial focus, be able to identify opportunities for wholesale change in underwriting practices and have a strong communication focus to keep management, commercial and underwriting teams aligned to common goals.
Customers are also looking to Cigna for better insights into what is driving their particular costs, emerging health risks and opportunities to improve the health and wellbeing of their employee populations, all with an eye on the bottom line.
The role will be expected to work closely with actuarial and data teams across Cigna to identify opportunities for better customer facing use of the myriad of data that Cigna manages.
Exposure to data and analytics would be desirable.
While the individual country underwriters will continue to report directly into their local CFOs, this is a great opportunity for someone looking to build and manage a regional practice, bringing people and processes together, developing technology and driving positive financial results across the region.
This role will report to the Head of Group Health Actuary, International Markets, based in Asia.
Development of regional group health strategy to optimize underwriting practices and align outcomes to enterprise goals
Work closely with IM finance leadership, local CFOs, commercial teams and actuarial teams to ensure the underwriting strategy meets key stakeholder needs
Develop a commercial mindset within the underwriting teams
Responsible for managing and achieving earnings growth, persistency, ANP and EVA targets at market and region level
High engagement with underwriting teams to ensure ongoing skills development and identify individual growth needs for the business and individuals
Adoption of technology that drives accuracy and efficiency
Development and delivery of impactful and usable management reporting
Liaise with key brokers in support of local market relationships
Assist with high risk major impact negotiations
Oversee new product development in the group health space from understanding customer need, pricing elements, key risks, competitor landscape all the way through to market testing
Ability to challenge the status quo of current practices and develop and sell the vision and benefits of the developed strategy
Will cover all group products offered with a primary focus on medical, dental and vision
Demonstrated ability to work and influence key stakeholders in complex matrix structures
Ability to influence the organization to meet external marketplace demands
High level of energy and ability to engage and communicate to local teams and senior management agility a must
5 plus years of healthcare, underwriting, actuarial or financial experience
Knowledge of factors that influence health markets and competitive conditions
Commercial outcome mindset
Experience in either insurance company or consulting company preferred
Exposure to financial work outside of underwriting specifically
Some level of international work experience would be ideal given the complex nature of the Asia Pacific market
Exposure in or near business development experience in another field helpful
Ability to lead client discussions and effectively represent Cigna's capabilities
Maintain and support direct client relationships
Keen interest in adopting technology to build better processes and outcomes
Demonstrated results in leading and developing a team
Keen understanding on the explicit role of underwriting in driving financial performance for the enterprise