New Product pricing - Work closely with Product team to provide actuarial support in product development process. This includes: o Provide advice on product design, develop and maintain pricing model, ensure accuracy and robustness in technical pricing o Propose pricing assumptions and methodology o Use relevant pricing model to derive premium rates and access profitability, as well as highlight key risks associated with the product. - Ensure that the proposed premium rates are adequate and provide sufficient resilience against risks. - Ensure that the assumptions used in pricing are consistent with internal guidelines / experience and pricing methodology is compliance with both regulatory and internal requirements. - Comply with internal and regulatory filing requirements in relation to pricing
Product Implementation - Liaise and coordinate with Product, Operation and IT teams to provide actuarial support to new product implementation, which includes operational set-up, system testing and policy documents review. - Provide actuarial support in preparing policy illustration of life insurance products and ensuring that they are compliant with industry / regulatory requirements.
Reinsurance - Point of contact with reinsurers negotiate risk rates with reinsurers - Coordinate and participate in reinsurance contracts review - Involve in other reinsurance matters such as retention limit review
Product management - Conduct regular profitability review of current selling life insurance products - Conduct regular evaluation of distribution remuneration structure, which includes assessing its market relevance and financial sustainability. - Provide actuarial support to review / evaluate any relevant corporate initiatives / incentive / campaign.
Other product related project - Handle special quotations and other policy servicing queries. - distribution compensation and analysis
Requirements:
Good progress in Actuarial exams of a recognized actuarial body.
Minimum 5 years of actuarial experience
Strong actuarial technical knowledge, analytical and problem-solving skills, with the ability to work independently. . Engaging and open-minded working attitude with emphasis on being a good team player.
Meticulous for detail in risk assessment and profitability analysis
Excellent communication and interpersonal skill
Proficient in Microsoft Office (Excel, Words, Power Point)
Proficient in actuarial computing is a plus (VBA, Prophet)
