Job Description:
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 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 requirement;
Reinsurance
- Participate in treaty review
- Reinsurance policy review
Other product related project
- Handle special quotations and other policy servicing queries
- Handle and perform Day 2 system UAT
- Any other project/work assigned by the company
Requirements:
- Undergraduate degree from a recognized university, major in Actuarial Science/Math/Statistics or a related discipline
- 1 year+ relevant 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)