New Product pricing
Liaise and coordinate with Product team to provide actuarial support in product development process. It includes:
advising on product design, developing and maintaining pricing model, ensuring accuracy and robustness in technical pricing
proposing assumptions used in pricing
using relevant pricing model to derive premium rates and access profitability, as well as highlighting 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 requirement
Comply with internal and regulatory filing requirements in relation to pricing, create higher standard on the premium certification report & regulatory filing processes
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 requirement;
Window contact for reinsurers
Participate in treaty review
Reinsurance policy review
Conduct regular profitability review of life insurance products that are still open for new business.
Conduct regular evaluation of distribution remuneration structure, including 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 analyses
Undergraduate degree from a recognized university, major in Actuarial Science, Math or Statistics preferred.
Minimum 3 years of actuarial experience
Strong actuarial knowledge, strong analytical and problem solving skills
Engaging and open minded working attitude with emphasis on being a good team player.
Meticulous for detail in risk assessment and profitability analysis
Proficient in Microsoft Office( Excel, Words, Power Point)
Proficient in actuarial computing (VBA, SQL, R, Prophet)
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