Indirect contract - Actuarial Product Pricing

Great Eastern Life; Kuala Lumpur; On-site; MYR 200,000 - 250,000; Full time

Job summary

A leading insurance company in Asia, Great Eastern Life, seeks an Associate for Product Pricing in Kuala Lumpur. The role focuses on ensuring compliance in product design and pricing while providing actuarial support. Candidates should have a relevant tertiary qualification and may include fresh graduates willing to learn. Join a dynamic team committed to enhancing customer lives through effective insurance solutions.

Qualifications

• Recognized tertiary qualification in Statistics, Mathematics, or Actuarial Studies.
• Experience in the life insurance industry is advantageous.
• Fresh graduates with strong actuarial results are welcome.

Responsibilities

• Ensure product design and pricing align with the Pricing Policy.
• Assess product design and risks including compliance with regulations.
• Conduct annual product reviews and actuarial experience studies.

Skills

Analytical skills

Actuarial principles

Knowledge of insurance

Education

Tertiary qualification in Statistics, Mathematics, or Actuarial Studies

Job description

Job Description - Indirect contract - Actuarial Product Pricing (220000GX)

Job Number:

220000GX

Discover the GREAT in your career.

As a LIFE company, our customers are at the heart of all that we do. Being one of Asia’s leading insurers for over a century, we have built a long-lasting legacy of trust with our customers across generations. This trust is rooted in Integrity, Initiative, and Involvement—from honest and transparent customer interactions to proactive delivery of the best insurance solutions.

Integrity, Initiative, and Involvement guide us. They inspire us to do the right thing, lead proactively, and prioritize team success. Our mission is to enhance our customers’ lives by understanding their needs and helping them protect what matters most.

If you seek a dynamic career filled with growth opportunities, we invite you to join us as Associate, Product Pricing.

The Role:

• Ensure product design and pricing align with the Pricing Policy.
• Design products compliant with relevant laws, regulations, and guidelines, with proper documentation.
• Assess product design and risks.
• Review product write-ups.
• Recommend and establish pricing assumptions.
• Prepare and validate policy values, premium rates, and profit test results.
• Create materials for Pricing Committee presentations.
• Prepare BNM product documentation, sales materials, and filing documents.
• Prepare PAD & PPRT for GPMAC product filing.
• Provide actuarial support for product administration, system testing, and maintenance issues.
• Ensure effective pricing controls and processes.
• Conduct annual product reviews and actuarial experience studies.
• Support team members with actuarial expertise.
• Stay informed about industry trends, regulatory changes, and emerging risks.
• Identify potential risks and share best practices proactively.
• Perform other related responsibilities.

The Person:

• Recognized tertiary qualification in Statistics, Mathematics, or Actuarial Studies (professional qualification preferred).
• Experience in the life insurance industry with knowledge of underwriting, claims, servicing, and agency administration is advantageous.
• Sufficient understanding of life insurance actuarial principles.
• Fresh graduates with good actuarial results are welcome.
• High integrity, accountability, team-oriented attitude.
• Proactive, adaptable, and willing to embrace change.

Great Eastern Malaysia is committed to Equal Employment Opportunity, offering fair and equal consideration to all qualified applicants.

Entity: Great Eastern Life Malaysia

Employment Type: Permanent

Note to Recruitment Agencies: We do not accept unsolicited resumes. Please do not send resumes via email or to employees. We are not responsible for any fees related to unsolicited resumes.

About Great Eastern:

Founded in 1908, we prioritize our customers and uphold our core values of Integrity, Initiative, and Involvement. Our culture emphasizes collaboration, inclusivity, and sustainability, aligning with the UN Principles of Sustainable Insurance since 2018. We aim to create a low-carbon economy, improve lives through health initiatives, and practice responsible business management.