Product Actuary - Employee Benefits

MetLife, Inc.; United Arab Emirates; On-site; AED 350,000 - 650,000; Full time

Job summary

MetLife Gulf is seeking an EB Actuary to design and price group medical, life, disability, and credit life products across UAE, Qatar, Oman, Kuwait and Bahrain. You will develop pricing models, ensure regulatory compliance, and collaborate with underwriting, sales, finance, operations and claims to deliver competitive offerings.

The ideal candidate has a strong actuarial background with 5+ years of pricing/product development experience and familiarity with AI in pricing.

Qualifications

• Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, or a related field.
• Qualified (fellow/associate) & nearly qualified actuary in one of the recognized actuarial organizations.
• Minimum of 5 years of pricing and product development experience focusing on group medical, life, disability and credit life insurance.

Responsibilities

• Design and price competitive insurance products for group medical, life, disability and credit life, ensuring alignment with business objectives and local market demands.
• Develop and maintain actuarial models for pricing and financial projections, ensuring accuracy and compliance with MetLife’s Actuarial Practice Standards.
• Collaborate with cross-functional teams, including underwriting, sales, finance, operations and claims to ensure product offerings are effectively positioned and supported.
• Monitor the financial performance of products, analyzing variances and trends to recommend pricing adjustments and product enhancements as needed.
• Prepare and present detailed reports and proposals to senior management, providing insights and recommendations based on actuarial analysis.
• Stay informed of legislative and regulatory changes that may impact product offerings and ensure compliance with all applicable local laws and regulations.

Skills

Alteryx

SAS

Power BI

Tableau

QlikView

AI in pricing

Communication

Analytical

Cross-functional collaboration

Education

Actuarial Science / Mathematics / Statistics degree

Job description

The EB Products Actuary will play a critical role in driving the growth and profitability of MetLife Gulf’s Employee Benefits business operation across UAE, Qatar, Oman, Kuwait and Bahrain through group medical, life, disability insurance and credit life products. This position involves developing pricing strategies, designing new insurance products, and enhancing existing offerings to meet the evolving needs of our customers and the market. The successful candidate will possess a deep understanding of group medical, life and credit life insurance products, financial modeling, and regulatory requirements, combined with a strategic mindset and a passion for innovation.

Key Relationships:

Reports to:

EB Technical Director Gulf

Other Key Stakeholders:

Head of Product Gulf, Head of EB Underwriting Gulf, Head of EB Sales Gulf

Key Responsibilities

• Design and price competitive insurance products for group medical, life, disability and credit life, ensuring alignment with business objectives and local market demands.
• Develop and maintain actuarial models for pricing and financial projections, ensuring accuracy and compliance with MetLife’s Actuarial Practice Standards.
• Collaborate with cross-functional teams, including underwriting, sales, finance, operations and claims to ensure product offerings are effectively positioned and supported.
• Monitor the financial performance of products, analyzing variances and trends to recommend pricing adjustments and product enhancements as needed.
• Prepare and present detailed reports and proposals to senior management, providing insights and recommendations based on actuarial analysis.
• Stay informed of legislative and regulatory changes that may impact product offerings and ensure compliance with all applicable local laws and regulations.

Required Qualifications

• Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, or a related field.
• Qualified (fellow/associate) & nearly qualified actuary in one of the recognized actuarial organizations.
• Minimum of 5 years of pricing and product development experience focusing on group medical, life, disability and credit life insurance.
• Strong proficiency in data analytics tools such as Alteryx, SAS and data visualization platforms such as Power Bi, Tableau, Qlikview.
• Knowledge of AI and machine learning applications in pricing, underwriting, and product development.
• Problem solver with excellent analytical and decision-making skills.i>
• Proven ability to communicate complex actuarial concepts to non-technical stakeholders.
• Ability to manage multiple priorities in a dynamic environment, collaborating across functions Leadership, Management, excellent written and verbal communication skills.

Preferred Qualifications

• Experience in the GCC insurance market, including employee benefits products and regional regulatory requirements.
  
• Experience managing multi-country product portfolios and leading strategic product development initiatives.
  
• Demonstrated success leading cross-functional AI or digital transformation initiatives that deliver measurable business value.
  

About MetLife

Recognized on Fortune magazine's list of the "World's Most Admired Companies" and Fortune World’s 25 Best Workplaces™, MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies; providing insurance, annuities, employee benefits and asset management to individual and institutional customers. With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East. As part of our New Frontier strategy, MetLife is building an AI-enabled, people-centered future. We’re looking for people who bring curiosity, adaptability, and a growth mindset as we use AI to enhance how we serve customers, support communities, and evolve the way work gets done. At MetLife, AI is a responsible partner that supports human judgment, creativity, and continuous improvement while helping us build trust, inclusion, and long-term value. Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future. United by purpose and guided by our core values - Win Together, Do the Right Thing, Deliver Impact Over Activity, and Think Ahead - we’re inspired to transform the next century in financial services. At MetLife, it’s #AllTogetherPossible .Join us!