Actuarial Specialist: Product Development (Microinsurance)

SUMMARY:
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POSITION INFO:

In order to be considered the following is required:

• Bachelor’s Degree in Actuarial Science, Mathematics, Statistics or related field
• Making good progress towards an Actuarial qualification
• Exposure to both life and non-life insurance will be advantageous
• Exposure to pricing and product development in insurance
• At least 3-5 years' working experience in an actuarial role

Responsibilities:

Data Analysis and Reporting:

• Collect, analyze, and interpret data to support actuarial functions
• Prepare regular reports and presentations for internal and external stakeholders
• Analyse mortality, morbidity, and lapse rates for life insurance
• Analyse key performance metrics for non-life insurance products such as claims loss ratios, frequencies and severities

Pricing and Product Development:

• Assist in the development and pricing of new insurance products
• Ensure products are competitive and compliant with regulatory requirements
• Develop pricing models for life and non-life insurance products
• Conduct profitability analyses for new and existing insurance products
• Assist with the structuring of new deals and finding solutions to improve structuring

Risk Management:

• Identify, assess, and manage risks associated with insurance products
• Support the development of risk mitigation strategies
• Perform stress testing and scenario analysis for life insurance portfolios
• Evaluate underwriting risks for non-life insurance policies

Regulatory Compliance:

• Ensure compliance with relevant actuarial standards and regulatory requirements
• Assist in the preparation of regulatory reports
• Prepare statutory reports for life insurance products
• Ensure non-life insurance products comply with local regulations

Experience Studies and Assumptions Setting:

• Conduct experience studies to inform assumptions used in pricing, reserving and risk management
• Analyse historical data to set assumptions for life insurance products
• Review claims and exposure data to update assumptions for non-life insurance products

Collaboration and Communication:

• Work closely with other departments, such as underwriting, finance, and product development
• Communicate actuarial findings and recommendations effectively
• Collaborate with the underwriting team to refine underwriting guidelines
• Present insurance risk assessments to senior management

Professional Development:

• Stay updated with industry trends, actuarial techniques, and regulatory changes
• Pursue continuous professional development
• Attend industry conferences and training sessions
• Participate in relevant actuarial exams and courses

Information displayed above not limited to advertisement.

Please consider your application as unsuccessful if you have not received a response within 14 days of submitting your application.