Group Health Actuarial Pricing Executive/ Senior Executive from a Life and Health Reinsurance Solution Provider (Singapore)
About the role:
- This role involves providing actuarial advice and services, particularly with respect to technical pricing, to meet the strategic goals of the company specific to the Group Line of Business
- A typical day on the job will require you to work on the development and maintenance of pricing models, conduct actuarial analyses by leveraging on both in-house data and external sources in support of Group pricing work, review pricing referrals from reinsurance partners and provide insights to external stakeholders from the perspective of a health insurance expert
- The ideal candidate will be self-motivated to be responsible for high standards of performance, with an open mind to fresh ideas on new market opportunities and benefits
- Commercial awareness is key to succeed in this role, with keen appreciate of the balance between technical rigour and business dynamics
Key accountabilities & responsibilities:
- Generate quotations for Group Health accounts within authority limit
- Present technical findings of Group Health accounts above authority limit to senior actuarial management for approval
- Conduct experience studies, rate adequacy analysis, financial projections, and analysis on company background to support a robust actuarial pricing
- Exhibit leadership as the face of the Group Pricing team in response to queries from both internal and external stakeholders, including but not limited to negotiation of complex reinsurance contracts
- Maintain proper product documentation for Group Health quotation exercises including tenders, proposals and policy documents
- Perform research using both in-house data and external sources for new market opportunities and new benefits
- Become the technical expert and lead direct reports on Group pricing referrals
Specialist skills & experience:
- Good progress in Actuarial exams of a recognized actuarial body
- Candidate with Mathematics/Actuarial or any related degree background
- 2 to 3 years’ experience working in an actuarial role, preferably in short-term health insurance (e.g. Employee Benefits)
- Degree in actuarial science, mathematics, economics or business-related field
- Proficient in MS Office, VBA, SQL and a high degree of comfort working with large datasets is preferred
- Solid oral and written communication skills
- Ability to work independently