Job Objective :
This is a key strategic role on the International Markets team and is vital to supporting the continuous growth, expansion and innovation that drive ongoing revenue and profit growth.
This role offers an exciting opportunity to be involved in business development opportunities across Cigna’s International Markets, including M&A projects and business plan assessments.
The individual filling this role will report directly to the Strategic Finance Lead for Cigna International Markets.
Job Description : Business development
o Financial viability assessment of M&A initiatives, determining strategic fit, organizing and conducting financial due diligence for M&A or divestitures as required.
o Participate in the development of market business plans and initiatives, assessment of new markets, and analysis of business opportunities.
o Perform analysis and assist in recommendations concerning the due diligence process and / or specific deals under review.
o Evaluate and support business cases, measurement and monitoring systems.
o The scope of strategic initiatives includes both organic and non-organic growth opportunities as well as financial flexibility improvement initiatives.
o Organic growth initiatives may include insurance distribution channel expansion, new market entry, new digital business platform investments, or new business models.
Non-organic initiatives may include M&A, joint ventures or divestitures. Financial flexibility improvement initiatives might be restructuring projects or similar.
Actuarial best practices
o The International Markets actuarial team is responsible for continually improving actuarial standards and practices across the businesses, and this role should actively contribute to that, not just for business development issues but across other actuarial areas too (valuation, experience studies, models etc).
Financial Management Reviews (FMRs)
o The jobholder would actively participate in FMRs, the biennial reviews of local actuarial teams’ practices and processes.
o These are on site audits of actuarial functions, with recommendations tracked and shared with the U.S. corporate team.
Scope of the role
o Cigna International Markets covers businesses outside of the U.S., and currently there are operations in China, Hong Kong, India, Indonesia, Korea, New Zealand, Taiwan, Thailand, Turkey, the UK and Europe, and Middle East.
Cigna is a successful, growing company and is always exploring opportunities in new markets.
o Products include personal accident, critical illness, dental, cancer, hospital cash, unit-linked, endowment and return of premium savings vehicles.
These products may involve long term guarantees or be offered on a yearly renewable term basis.
o Distribution channels include inbound and outbound telemarketing, affinity, bancassurance, brokers, agents, and online.