Health Pricing Manager from a Life Reinsurer (Malaysia)
Position Overview
The Health Pricing Manager will be primarily responsible for pricing of health business with 80% of the time focusing on Health Initiatives with primary focus on Group Health SME initiatives and quotes from Non-Life companies and 20% of the time supporting other new health product pricing. This includes but not limited to pricing basis derivation, modelling, risk analysis and other new business development activities. They will work closely with Business Development, Health, Underwriting, Product Development and Regional Pricing.
Responsibilities
- Develop best estimate pricing assumptions and pricing models to provide quotes for Health Initiatives with primary focus on Group SME business and those form Non-Life companies that meet clients’ objectives and the company's minimum requirements.
- Ensure all pricing procedures, including preparation of pricing memo, peer reviews and regional escalation of the new products comply with the company’s internal pricing standards, guidelines and country mandate.
- Provide support to Lead Health Actuary/ Treaty Specialist in reviewing and negotiating treaty terms of new products with clients and ensure treaties are completed and signed in a timely fashion.
- Define & develop methods & tools to ensure that health business is monitored closely and ensure that any adverse trends, both at treaty or portfolio level, are identified and escalated.
- Supporting role in the development and implementation of new health product initiatives from pricing and risk management perspective, this includes but not limited to
-- Develop the pricing basis for new products, benefits and risks supported by research papers, desktop research, internal/external data sources, etc.
--- Provide recommendation on risk controls and management.
--- Obtain pricing-related internal approval for the new product if needed.
--- Assist with providing technical inputs and review of product and marketing materials.
--- Assist with the roll out of new product ideas and sharing information with all RGA Asian offices.
Requirements
- Bachelor's degree in math, finance, statistics, actuarial science or related fields
- Qualified or nearly qualified actuary with a globally recognized actuarial association
- 5 – 8 years of actuarial working experience with at least 2 years of experience in pricing for health and medical reimbursement business. Health pricing experience of Group Health Business is strongly preferred
- Good knowledge of Asian health insurance markets and product. Knowledge on Group health and non-life health market will be an advantage
- Highly organized, delivery-orientated with the ability to work with multiple concurrent projects
- Highly motivated, results oriented and solutions focused
- Ability to work effectively under pressure
- Strong interpersonal skills with the ability to negotiate and influence others
- Strong technical skills and attention to detail
- Strong client services ability with excellent communication skills (both written and verbal)
- Advanced Excel skills is required and experience in using actuarial software, e.g. Axis, is strongly preferred
- Ability to challenge and enhance existing analytical methodologies
- Innovative, proactive and improvement oriented
- Ability to work independently and as part of a team and deal with multiple stakeholders within the business