Manager/ Assistant Manager GI Pricing

  • 35351
  • Non-Life - Actuarial
  • |
  • Malaysia
  • |
  • Jun 11, 2019
Insurance
RESPONSIBILITIES
  • Product Pricing.
  • Propose rating structure and develop rates for retail products using GLM.
  • Develop statistical model for renewal & business conversion modeling.
  • Optimize company rating plan using Radar Optimiser based on selected criteria.
  • Product documentation and filing to regulator.
  • Ensure correctness of the set-up of pricing models and accuracy of calculation in line with Group pricing and retail guidelines.
  • Assist in providing recommendations to EXCO members and key stakeholders on the pricing results.
  • Collaborate with key stakeholders to develop and execute pricing strategies.
  • Assist in preparing pricing documentation and support for regulatory filing and internal product approval process.
  • Assist in development of new products to ensure the product setup, structure, and information collected is relevant for pricing and portfolio monitoring purposes.
  • Monitoring performance of the retail portfolios on a regular basis.
  • Ensure the accuracy of the monitoring reports with reconciliation against other internal reports.
  • Identify the key trends/findings and propose necessary rectification measures.
  • Responsible for data mining and analytic projects in the company.
  • Work closely with the Statistics/MIS team and IT to improve internal data quality and collection.
  • Provide input to retail portfolio underwriters to develop product underwriting policies, guidelines, and rules.
  • Provide analysis and advice on reinsurance structure proposals as required.
  • Assist the loss reserving team on pricing assumptions, repricing activities, and new product developments.
  • Work closely with Finance and/or Underwriting to provide input as necessary for business planning and result forecasting.
  • Provide actuarial support to other departments including Risk Management, Finance etc. as appropriate.
  • Assist in any special project assigned from time to time.
QUALIFICATIONS
  • Degree in Actuarial Science or relevant quantitative fields.
  • At least 3-5 years of experience in an analytics field.
  • Qualified or nearly qualified actuary.
  • Expert knowledge of data manipulation tools is required.
  • Experience in GLM risk modeling, renewal & business conversion modeling, profit optimization is an added advantage
  • Previous experience working closely with underwriters, product development team and other key stakeholders.
  • Good understanding and knowledge of the general insurance industry.
  • Knowledge of best practices and statutory compliances as applicable related to product pricing