Assistant Manager, Pricing (Life Insurance)

Generali Life Insurance Malaysia Berhad; Kuala Lumpur; On-site; MYR 29,000 - 43,000; Full time

Job summary

Generali Life Insurance Malaysia Berhad is seeking a seasoned Actuarial Pricing professional to develop premium rates aligned with our pricing strategy and regulatory requirements. You will ensure profitability and capital adequacy while coordinating with Product Development, IT, and stakeholders.

The role emphasizes strong technical skills, leadership, and collaboration to support pricing architecture and product filings with BNM, with opportunities across Employee Benefit pricing and system

Qualifications

• Education: Degree in Actuarial Studies with active actuarial exam progress from a recognised body.
• Experience: More than 6 years in actuarial or pricing; understand insurance products and market conditions.
• Skills: Strong technical, problem-solving, leadership and collaboration abilities.

Responsibilities

• Develop pricing strategies aligned with product proposition to achieve targets and profitability.
• Review, build, update or enhance pricing models and support product approvals.
• Collaborate with Product Development and IT to implement pricing systems and resolve Day 1/Day 2 issues.
• Manage ad hoc pricing requests and ensure timely responses from stakeholders.

Skills

Technical skills

Analytical thinking

Leadership

Team collaboration

Education

Degree in Actuarial Studies

Job description

Responsible for the development of sound premium rates that is in alignment with the product pricing strategy and adhering to company’s internal requirements and comply with BNM’s regulations.

To ensure that the products’ profitability and capital needs meet the company’s objectives.

Key Accountabilities:

Product Pricing Strategy

Devise pricing strategy to ensure that they are in alignment with the product proposition to achieve business targets and meet the products’ profitability and capital needs of the company.

Review, build, update or enhance existing pricing model.

Preview, test and utilize competitor products and seek necessary mandate from the Product Development Team.

Review or prepare pricing analysis and seek necessary mandate from Product Development Team for quotation.

Work with reinsurer to gain access to product knowledge and risk pricing knowledge. Also establish relationship with reinsurer to ensure timely product support.

Review or preparing financial studies in Pricing Report to seek product approval from the relevant stakeholders.

Collaborate with Product Development Team to ensure that product is approved by relevant stakeholders, prior to seeking Regional/Group approval (if required), and filing to BNM.

Partner with Product Development Team to prepare the needed document for timely submission of product filling for BNM’s product approval and responding to BNM's queries.

Provides support in Employee Benefit business in ensuring sound pricing practice.

Product Implementation

Work with IT on developing, testing, and integrating systems.

Review and resolve Day 1 issues before product launch and to follow up on Day 2 issues to ensure completion.

Review or develop and maintain Excel Planner template and Inforce SI.

Special Projects Related to Pricing

Manage project timeline with the engagement of project manager.

Ensure timeliness of the project completion.

Ad Hoc Requests

Respond accurately to ad hoc requests from various stakeholders in timely manner.

Requirements:

Education: Degree in Actuarial Studies who is active in exam progress from recognised actuarial examination body.

Experience: More than 6 years of Actuarial or Pricing experience. Understanding of insurance products and marketplace conditions and how they impact financial models and results.

Skills:

• Strong technical skill and logical thinking.
• Strong problem-solving skill and critical thinking.
• Leadership and Motivational skills.
• Team building and collaboration skills.

Generali is one of the largest global insurance and asset management providers. With over 190 years of insurance experience, we now serve 67 million customers in more than 50 countries worldwide. With a wide network of agents, partners, and branches nationwide, it is one of the largest general insurers in Malaysia, with close to 2 million customers. It strives to further its ambition of being a trusted lifetime partner and, more importantly, enable people to shape a safer and more sustainable future by caring for their lives and dreams. From business to home and mobility to health, it offers comprehensive protection solutions to bring genuine value to individuals, families, and businesses.

Generali is one of the largest global insurance and asset management providers. With over 190 years of insurance experience, we now serve 67 million customers in more than 50 countries worldwide. With a wide network of agents, partners, and branches nationwide, it is one of the largest general insurers in Malaysia, with close to 2 million customers. It strives to further its ambition of being a trusted lifetime partner and, more importantly, enable people to shape a safer and more sustainable future by caring for their lives and dreams. From business to home and mobility to health, it offers comprehensive protection solutions to bring genuine value to individuals, families, and businesses.