Indirect contract - Actuarial Product Pricing

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

Job summary

A leading insurance company in Asia is seeking an Associate for Product Pricing in Kuala Lumpur. In this role, you will design and price products according to policy, assess risks, and support the pricing team. Ideal candidates possess a recognized degree in Statistics, Maths, or Actuarial Studies, with experience preferred but fresh graduates are welcome. A strong teamwork attitude and integrity are essential. This is a permanent employment opportunity with great potential for career growth.

Qualifications

• Possessed a recognized Tertiary degree in Statistics, Maths, or Actuarial Studies.
• Experience in the life insurance industry with basic knowledge in underwriting and claims.
• Fresh graduates considered with good results in actuarial subjects.

Responsibilities

• Design and price insurance products in accordance with Pricing Policy.
• Review product designs and prepare assessments on risks.
• Provide actuarial assistance for product maintenance issues.

Skills

Statistical analysis

Actuarial principles

Team collaboration

Problem-solving

Education

Tertiary in Statistics / Maths / Actuarial Studies

Job description

As a LIFE company, our customers are at the heart of all that we do. Being one of Asia’s leading insurer for over a century, we have built a long-lasting legacy of trust with our customers over many generations. At the foundation of this trust is Integrity, Initiative, and Involvement – from the way we treat every customer relationship with honesty and transparency, to our proactive approach of delivering the best possible solutions in both life and general insurance.

Integrity, Initiative, and Involvement is what guides us. It is what makes us do the right thing, take the lead, and choose ‘we’ over ‘me’. Our mission is to make life great for our customers because we understand what matters most to them, and we know how to help them protect it.

If you are looking to grow in an exciting career filled with opportunities and potential, we are seeking a professional to join our team as Associate, Product Pricing.

The Role:

• Ensure products are designed and priced in accordance with Pricing Policy.
• Ensure design of products in compliance with relevant Act, Regulations Efficient documentation and Guidelines
• Prepare assessment on product design and risks.
• Review product write-ups.
• Recommend and prepare pricing assumptions.
• Prepare and validate policy values, premium rates, profit test results.
• Prepare Pricing Committee presentation materials.
• Prepare BNM Product Documentations, sales materials and other filing documents.
• Prepare PAD & PPRT for GPMAC product filing.
• Provide actuarial assistance for:
  • Product administration and maintenance issues.
  • Life System and Sales Illustration System Testing.
  • Ad-hoc miscellaneous calculations.

• Ensure efficiency & adequacy of pricing control & process.
• Prepare annual product review and actuarial experience studies.
• Provide support to pricing team members.
• Maintain awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Highlight any potential concerns /risks and proactively shares best risk management practice.
• Other responsibilities entailed.

The Person:

• Possessed a recognized Tertiary in Statistics / Maths / Actuarial Studies Professional.
• Experiences in life insurance industry with basic knowledge in underwriting, claims, servicing and agency administration.
• Sufficient understanding in life insurance actuarial principles.
• Fresh graduate can be considered but with good results in actuarial.
• High level of integrity, takes accountability of work and good attitude over teamwork.
• Takes initiative to improve current state of things and adaptable to embrace new changes.

Great Eastern Malaysia is committed to Equal Employment Opportunity, and all qualified applicants shall receive a fair and equal consideration for employment.

Entity: Great Eastern Life Malaysia

Employment Type: Permanent