Singlife is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.
In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.
Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.
The merger of Aviva Singapore and Singlife was announced in September 2020 and created one of the largest homegrown financial services companies in Singapore in a deal valued at S$3.2 billion. It was the largest insurance deal in Singapore at the time.
Singlife was subsequently acquired by Sumitomo Life in March 2024, one of Japan's leading life insurers, which valued Singlife at S$4.6 billion, making the transaction one of the largest insurance deals in Southeast Asia.
Professional Summary
We are looking for an experienced and motivated actuarial leader to join our team to lead Individual Life Pricing. In this strategic role, you will manage the pricing function across a diverse portfolio of individual insurance products including participating, protection, indexed-linked, and non-participating solutions. You'll play a key role in shaping our product strategy through rigorous actuarial analysis, innovative modeling, and deep market insights.
As a leader, you'll oversee a talented team of 5 to 7 actuaries, guiding their development and fostering a collaborative, high-performance culture. You'll also be responsible for maintaining and enhancing our pricing models and tools, ensuring all initiatives are aligned with both regulatory requirements and company standards.
This is a fantastic opportunity for someone who is passionate about driving product innovation, influencing business decisions with data-driven insights, and mentoring the next generation of actuarial talent, all within a dynamic and forward-thinking environment.
Responsibilities
- Lead Product Pricing Strategy: Manage the end-to-end pricing process for all individual life insurance products, including participating, protection, index-linked, Indexed Universal Life (IUL), and other non-participating solutions, supporting both new product development and enhancements.
- Drive Actuarial Analysis: Conduct and oversee in-depth actuarial research, including data collection, modeling, and experience analysis to support sound, data-driven decisions in collaboration with Product and Distribution.
- Ensure Compliance and Governance: Maintain pricing integrity by ensuring all strategies and methodologies adhere to internal policies and evolving regulatory requirements.
- Develop and Lead a High-Performing Team: Manage and mentor a team of 5 to 7 pricing actuaries and analysts, fostering professional growth and encouraging technical excellence and innovation.
- Enhance Models and Market Awareness: Oversee the development and continuous improvement of pricing models, tools, and systems while staying informed on market trends and regulatory developments impacting pricing strategies.
Requirements
- Actuarial Experience: Minimum of 7 years of actuarial experience, including at least 2 years specifically in insurance pricing roles, preferably within life insurance.
- Professional Qualification: Fully qualified or nearing qualification from a recognized actuarial body (e.g., Institute and Faculty of Actuaries, Society of Actuaries, Institute of Actuaries of Australia)
- Regulatory Knowledge: Solid understanding of insurance pricing regulations and guidelines, particularly those issued by MAS and LIA.
- Technical and Analytical Skills: Proficient in actuarial modeling, data analysis, and statistical techniques, with a strong analytical mindset and attention to detail.
- Leadership and Communication: Demonstrated ability to lead and develop teams, manage complex projects, and effectively communicate actuarial concepts to both technical and non-technical stakeholders.
