Actuary - Pricing and Product Development
About the Role Our client, a leading insurance provider, is seeking a talented and ambitious Actuary to join their team in Bekasi. This critical role focuses on pricing new insurance products and refining existing ones across various lines of business, including general insurance. The successful candidate will leverage advanced analytical skills and actuarial techniques to ensure product profitability and competitiveness in the dynamic Indonesian market. This position operates under a Hybrid work model, combining essential in-office collaboration with the flexibility of remote work.
Key Responsibilities
- Develop and implement pricing models for new and existing insurance products, ensuring accuracy and alignment with business objectives.
- Analyze historical claims data, market trends, and competitor pricing to inform product development and pricing strategies.
- Conduct profitability analysis and experience studies to monitor the performance of existing products.
- Collaborate with underwriting, marketing, and product development teams to design innovative and market-responsive insurance products.
- Ensure compliance with all regulatory requirements and actuarial standards set by the OJK.
- Perform various actuarial calculations, including reserving, solvency testing, and capital modeling as needed.
- Communicate complex actuarial findings and recommendations to non-actuarial stakeholders clearly and concisely.
- Mentor junior actuarial staff and contribute to the overall development of the actuarial function.
- Stay current with advancements in actuarial science, software, and industry best practices.
Requirements
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related quantitative discipline. Progress towards or completion of actuarial examinations (e.g., SOA, CAS, or equivalent local body) is essential.
- Minimum of 6 years of actuarial experience, with a strong emphasis on pricing and product development within the insurance industry.
- Proficiency in actuarial modeling software (e.g., Prophet, R, Python, SQL) and advanced spreadsheet skills.
- Solid understanding of insurance principles, financial modeling, and regulatory frameworks in Indonesia.
- Excellent analytical, problem-solving, and critical thinking abilities.
- Strong written and verbal communication skills, with the capacity to present technical information effectively.
- Ability to work collaboratively in a Hybrid team environment and manage multiple projects concurrently.
- Demonstrated ability to work independently and meet strict deadlines.
Benefits
- Our client offers a competitive salary, performance bonuses, and a comprehensive benefits package including health insurance, life insurance, and retirement plans.
- Professional development support, including study time and financial assistance for actuarial exams, is provided.
- This role presents an exciting opportunity to shape the future of insurance products in Bekasi with a