Job Description

New Product pricing

• Work closely with Product team to provide actuarial support in product development process. This includes:
• Provide advice on product design, develop and maintain pricing model, ensure accuracy and robustness in technical pricing
• Propose pricing assumptions and methodology
• 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
• 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

Any other project/work assigned by the company
Job Requirement

• Good progress in Actuarial exams of a recognized actuarial body.
• Minimum 3 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 (VBA, SQL, R, Prophet)