Ensures sustainable portfolio growth and profitability through high quality management of product development and pricing.
- Participates in the product development process with focus on technical aspects.
- Performs product pricing including set up of underlying assumptions for existing products as well as those new to the market
- Performs profit-testing and various sensitivity analyses (both regular and ad-hock)
- Follows up SII calculations and other relevant frameworks used for profit-testing.
- Ensures integrity of actuarial models, as per the governance process relating to peer review
- Review product profitability and assists management in decision taking for product development, re-pricing, product features, etc.
- Participate in the product development strategy, coherent with the company strategy
- Participates in planning of the premium budget in cooperation with distribution departments managers and profit margin assumptions with finance department
- Participates in development of retention strategy
- Participation in preparation of all BRs, BCs and product pricing for all new and repricing initiatives including their track in Global Production System (GPS)
- Participate in Illustrations preparation and implementation of products in local systems
Product Strategy Execution
- Monitors and analyzes sales in respective distribution channels based on data available
- Monitors insurance assumptions experience (lapse, mortality, morbidity/loss ratio) in coordination with Finance and Actuarial.
- Participates in assumptions setting process
- New business profitability analysis, IRR Spectrum reporting and maintenance of models & assumptions used
- Participate in preparation of reports to stakeholders, including: Pipeline report, Deal Pipeline report, IRR spectrum, Post launch report, Upfront payment, inputs for QBR
- Prepares KID documents for products regulated under PRIIPS. Maintains the PRIIPs models and performs the relevant calculations. Whatever items as deemed by reporting line
- Provides actuarial expertise for other departments
- University degree in mathematics, informatics or economics;
- Qualified Actuary;
- Successful work record in insurance for at least 5 years;
- Fluent in English;
- Advanced MF office &VBA, knowledge of Prophet is an asset
- Understanding of office automation / MIS technology and its implications;
- Result oriented;
- Resilient, works well under pressure and with various sources of information;
- Excellent analytical skills and ability to identify weak areas through reporting;
- Team player with ability to work also independently.