The Director of Pricing Strategy is responsible for analyzing and creating new pricing tactics for Workers' Compensation, and Casualty Risk Management segments. These tactics will effectively be used by Sales, Marketing and Operations Management to retain current clients and gain new business. In addition, the Director monitors and analyzes benchmark data to create a pricing matrix database. Ongoing collaboration with key stakeholders in both Management and Sales will be imperative for pricing concepts to ensure alignment with overall company strategy and regulations.
This position is remote, or hybrid if located near Irvine, CA.
ESSENTIAL FUNCTIONS & RESPONSIBILITIES:
- Plan and develop market research and analysis; gather competitive intelligence, research market trends and implement competitive pricing strategies.
- Effectively communicate with Leadership, Sales, Marketing, and cross-functional departments to align on pricing strategy and needs.
- Creates and delivers formal presentations for leadership to deliberate pricing proposals and/or complex analysis of market trends.
- Determines optimal pricing for products by assessing internal costs, establishing price points that will ensure a profit while considering competition, regulations, and market constraints.
- Documents new strategies to be conveyed in a format that is suitable for project development and delivery to legal for review.
- Design and implement pricing strategies for existing customer accounts, participate in the creation of request-for-proposals to attract new customers.
- Recommends pricing and reimbursement for current and future products across both relevant customer and market segments.
- Prepares and disseminates information with Marketing, Sales and Finance regarding pricing formulas, margin improvements, customer segmentation, etc.
KNOWLEDGE & SKILLS:
- Effective communication, across all levels of the organization including verbal and written skills.
- High proficiency in self-managing project details.
- Ability to comprehend and organize complex materials according to business and development needs.
- Ability to utilize experience/judgment to plan, accomplish goals and meet demanding deadlines.
- Demonstrate ability to provide superior service to internal and external stakeholders.
- High degree of analytical ability and diligence.
- Sound presentation skills and comfortable delivering content to various audiences.
- Proficiency with Word, PowerPoint as well as a robust knowledge with Excel.
- Working knowledge of current CorVel product lines and processes is a plus.
EDUCATION & EXPERIENCE:
- Bachelor's degree or equivalent combination of education and prior work experience.
- Senior level experience in the Insurance/Managed Care/TPA/Risk management industry is required.
CorVel uses a market based approach to pay and our salary ranges may vary depending on your location. Pay rates are established taking into account the following factors: federal, state, and local minimum wage requirements, the geographic location differential, job-related skills, experience, qualifications, internal employee equity, and market conditions. Our ranges may be modified at any time.
Pay Range: $115,826 - $179,226
A list of our benefit offerings can be found on our CorVel website: CorVel Careers | Opportunities in Risk Management
CorVel, a certified Great Place to Work® Company, is a national provider of industry-leading risk management solutions for the workers' compensation, auto, health and disability management industries. CorVel was founded in 1987 and has been publicly traded on the NASDAQ stock exchange since 1991. Our continual investment in human capital and technology enable us to deliver the most innovative and integrated solutions to our clients. We are a stable and growing company with a strong, supportive culture and plenty of career advancement opportunities. Over 4,000 people working across the United States embrace our core values of Accountability, Commitment, Excellence, Integrity and Teamwork (ACE-IT!).
A comprehensive benefits package is available for full-time regular employees and includes Medical (HDHP) w/Pharmacy, Dental, Vision, Long Term Disability, Health Savings Account, Flexible Spending Account Options, Life Insurance, Accident Insurance, Critical Illness Insurance, Pre-paid Legal Insurance, Parking and Transit FSA accounts, 401K, ROTH 401K, and paid time off.
CorVel is an Equal Opportunity Employer, drug free workplace, and complies with ADA regulations as applicable.