Actuarial Pricing

PURPOSE OF THE ROLE

The focus of this role is to support specific pricing and analytics initiatives for the Singapore business.

The individual is expected to perform and enhance the basic pricing operations of the company. The individual must have or develop the necessary technical skills and knowledge to execute pricing initiatives in a consistent and timely manner.

The individual is expected to support sales and profit targets through data analysis and pricing initiatives. The individual must develop a close working relationship with the local management team to deliver optimal outcomes aligned with business initiatives through Pricing, Marketing, Sales, Claims and Underwriting. The individual reports to the Business Performance Actuary.

POSITION ACCOUNTABILITIES

· Implement consistent rating review and change processes such as impact analysis, testing or monitoring alongside the IT and underwriting team

· Maintain and develop data modeling processes for portfolio analysis purposes using SQL

· Prepare and analyses competitor pricing on a regular basis

· Work alongside other team leaders when delivering shared projects

· Maintain and develop motor loss cost models using Python or R

· Generate, analyze and report monthly closing key performance figures accurately

· Extract and manipulate data from internal/external sources for pricing and analytical work

· Maintain pricing/analytical models using machine learning models and implement them for production use alongside IT team.

· Communicate technical results in a clear and concise manner to the pricing manager

· Undertake special projects as assigned such as product development, partners, distributions or new geographical expansion

· Develop and enhance the businesses understanding of underwriting profitability, segmentation, and pricing through actuarial analysis

· Streamline recurring manual processes

· Manage project timelines and milestones with manager

QUALIFICATIONS AND EXPERIENCE

· Bachelor's or Master's Degree in Actuarial Science

· 3-7 years of experience in a general insurance company with knowledge of Singapore motor insurance market and profitability

· Demonstrate good problem-solving skills using available tools

· High proficiency in Microsoft Excel (VBA not required)

· Experience in SQL is required, R or Python would be advantageous

· Ability to work independently while being a team player, manage and prioritize multiple projects/deliverables

· Excellent communication skills to liaise with stakeholders