Key Objective

To develop and implement pricing strategies to optimise profitability and competitive positioning.

Major duties and responsibilities

•Pricing Strategy Development: Develop and maintain pricing strategies for motor insurance products, considering factors such as market trends, competitive analysis, and regulatory requirements.

•Pricing Analysis: Conduct detailed analysis of loss cost and statistical model to provide insights and determine appropriate pricing.

•Rate Filing: Prepare and submit rate filings to regulatory authorities, ensuring compliance with legal and regulatory requirements.

•Competitive Analysis: Monitor and analyse competitor pricing and market trends to identify opportunities for growth and make recommendations for adjustments to pricing strategies.

•Pricing System Implementation: Ensure pricing strategies are executed timely and accurately.

•Performance Monitoring: Work along side with Actuarial, Portfolio and Data Analytic team in portfolio monitoring and tracking of key performance indicators. Identify areas for improvement and take necessary corrective actions.

•Product Development Support: Provide analytical support in developing new product idea and pricing the product.

Skills

•Proficiency in Microsoft Word, Excel and Power Point

•Proficiency in data manipulation applications such as SQL, SAS, Python.

•Proficiency in pricing tools such as Emblem and Radar.

•Ability to plan and execute to ensure timely delivery of results.

•Highly analytical and meticulous to details.

•Ability to transform technical analysis output to business insight, reduce complex problems to simple solutions.

•Positive work attitude with focus on continuous improvement.

•Open and strong communication, excellence in execution, innovative thinking, an inclusive mind-set.

Experience

• At least 7 years of actuarial working experience.

• Data manipulation experience.

• Technical experience in monitoring and claims experience analysis.

• Technical experience in insurance pricing.

• Experience in the coordination of information from and the communication of results to relevant stakeholders.

Qualifications

• Bachelor’s Degree on Actuarial/Stats/Mathematics/Data Science

• In the process of taking exams to become a qualified actuary under the following faculties:

–The Institute and Faculty of Actuaries of the United Kingdom

–The Institute of Actuaries of Australia

–The Canadian Institute of Actuaries

–The Society of Actuaries of the United States of America

–The Casualty Actuarial Society of the United States of America