Job Description

Pricing Strategy Development:

• Develop pricing strategy across all business lines (Motor and Non-Motor).
• Support the implementation of pricing strategies and refinement of pricing models and methodologies. Ensure that pricing strategies are competitive and aligned with market conditions and corporate objectives.
• Test pricing models and tools, tabulate the product features and pricing assumptions.

Pricing Projects:

• Collaborate with product development teams, and underwriters to support product strategy and innovation.
• Assist and review product specification during the new product development process.
• Develop pricing projects. e.g. impact analysis, regulatory filing and experience studies while ensuring compliance with regulatory requirements
• Ensure pricing methodology and assumptions are documented and aligned with internal governance.

Product Portfolio Monitoring:

• Monitor product performance post-launch to ensure profitability and compliance with pricing assumptions.
• Conduct regular reviews and enhance actuarial pricing processes and procedures to optimize operational performance and provide insights on pricing effectiveness.

Market and Data Analysis:

• Work closely with Market Leaders to maintain competitiveness in business through monitoring of industry trends, competitor pricing, and regulatory changes. Identify pricing trends and opportunities and adjust the pricing models accordingly to enhance pricing accuracy and efficiency.
• Conduct data analysis and present findings to define business KPIs. 
• Utilize statistical and actuarial techniques to build business models to assess impact of key projects and opportunities. 

Job Requirements

• Degree in Actuarial Science, Data Science, or other Mathematics/Statistics based major.
• Minimum 4 to 5 years in-house actuarial pricing experience or 2 to 3 years experience in actuarial consulting pricing experience.
• Have experience doing ratemaking for all lines of businesses, specifically accident and health, property and miscellaneous, GIT and liability.
• Solid understanding of the insurance industry including products, pricing structures, market trends and regulatory requirements
• Possesses strong numerical and analytical skills
• Proficiency in any relevant statistical software and programming languages (e.g., SQL, SAS, Python, R, or VBA)

Skills