Actuarial Pricing Specialist

PolicyStreet; Kuala Lumpur; On-site; MYR 70,000 - 90,000; Full time

Job summary

A leading InsurTech firm in Kuala Lumpur is seeking an Actuarial Pricing Specialist to develop and implement pricing strategies across business lines. The role requires a degree in Actuarial Science or related fields and several years of actuarial pricing experience. The ideal candidate will have strong analytical skills and proficiency in statistical software. Enjoy opportunities for career growth and benefits including medical and life insurance covering family.

Benefits

Dedicated learning opportunities

Young and energetic team

Medical and Life Insurance for family

Flexi Benefits for health

Qualifications

• Minimum 3 to 4 years in-house actuarial pricing experience.
• Experience with ratemaking for various lines of business.
• Strong understanding of insurance industry products and pricing.

Responsibilities

• Develop pricing strategy across all business lines.
• Collaborate with product teams to support product strategy.
• Regularly monitor product performance post-launch.

Skills

Numerical skills

Analytical skills

Statistical software proficiency

Market trend analysis

Education

Degree in Actuarial Science, Data Science, or Mathematics/Statistics

Tools

SQL

SAS

Python

R

VBA

Job description

ABOUT US

PolicyStreet is a leading InsurTech group, specialising in innovative digital insurance solutions for businesses and consumers in Southeast Asia and Australia. With a network of over 40 providers, we offer a comprehensive range of products, including embedded insurance, customised employee benefits, car insurance renewals, financial advisory, and digital solutions – making insurance straightforward, for everyone. Through our regional group of companies, we serve more than 5 million customers with over US$ 10 billion in sum insured.

WHAT YOU'LL DO

Pricing Strategy Development

• Develop pricing strategy across all business lines (Motor and Non-Motor).
• Support the implementation of pricing strategies and refinement of pricing models and methodologies. Ensure that pricing strategies are competitive and aligned with market conditions and objectives.
• Test pricing models and tools, tabulate the product features and pricing assumptions.

Pricing Projects

• Collaborate with product development teams, and underwriters to support product strategy and innovation.
• Assist and review product specification during the new product development process.
• Develop pricing projects. e.g. impact analysis, regulatory filing and experience studies while ensuring compliance with regulatory requirements
• Ensure pricing methodology and assumptions are documented and aligned with internal governance.

Product Portfolio Monitoring

• product performance post-launch to ensure profitability and compliance with pricing assumptions.
• Conduct regular reviews and enhance actuarial pricing processes and procedures to optimize operational performance and provide insights on pricing effectiveness.

Market and Data Analysis

• Work closely with Market Leaders to maintain competitiveness in business through monitoring of industry trends, competitor pricing, and regulatory changes. Identify pricing trends and opportunities and adjust the pricing models accordingly to enhance pricing accuracy and efficiency.
• Conduct data analysis and present findings to define business KPIs.
• Utilize statistical and actuarial techniques to build business models to assess impact of key projects and opportunities.

WHAT WE'RE LOOKING FOR

• Degree in Actuarial Science, Data Science, or other Mathematics/Statistics based major.
• Minimum 3 to 4 years in-house actuarial pricing experience or 1 to 2 years experience in actuarial consulting pricing experience.
• Have experience doing ratemaking for all lines of businesses, specifically accident and health, property and miscellaneous, GIT and liability.
• Solid understanding of the insurance industry including products, pricing structures, market trends and regulatory requirements
• Possesses strong numerical and analytical skills
• Proficiency in any relevant statistical software and programming languages (e.g., SQL, SAS, Python, R, or VBA)

PERKS YOU’LL GET TO ENJOY WHILE WORKING HERE!

• Dedicated learning opportunities & development plans to grow your career.
• Young & energetic team with focus on Innovation & Collaborate, elevating a fun working culture.
• Medical & Life Insurance extended to spouse & children.
• Flexi Benefits available for transport, dental, optical, traditional medicine etc.

Find out more about us via our website at www.policystreet.com.