PRICING & PRODUCT DEVELOPMENT MANAGER

Pacific & Orient Insurance Co.; Kuala Lumpur; On-site; MYR 100,000 - 130,000; Full time

Job summary

A reputable insurance firm in Kuala Lumpur is seeking an experienced actuary to enhance product offerings and pricing strategies. The ideal candidate must hold a degree in Actuarial Science, possess solid analytical skills, and have at least 8 years of experience in the General Insurance industry. Responsibilities include developing new products, ensuring optimal pricing, and working closely with regulatory bodies. This position demands effective communication and strategy formulation skills, contributing to the company's growth and compliance objectives.

Qualifications

• Degree in Actuarial Science or related discipline is required.
• Preferably a Fellow Member of the Actuarial Society of Malaysia.
• 8 years' experience in the General Insurance industry.

Responsibilities

• Develop new products to improve company volumes.
• Assist in development of new distribution channels.
• Ensure precise product pricing aligned with best actuarial practice.

Skills

Analytical skills

Research skills

Creative problem-solving skills

Good written communication

Good presentation skills

Education

Degree in Actuarial Science or related discipline

8 years' experience in General Insurance

Job description

Responsibilities

• Develop new products to improve company volumes.
• Assist in development of new distribution channels.
• Develop policy wording.
• Assist in producing policy documentation such as product disclosure, brochures, etc.
• Ensure precise product pricing aligned with best actuarial practice.
• Develop pricing for new and existing products.
• Amend pricing based on company strategy.
• Monitor pricing experience and present results to senior management.
• Submit pricing templates to Bank Negara Malaysia.
• Respond to Bank Negara Malaysia business related queries.
• Support Senior Management in setting and monitoring strategy.
• Work with reinsurance brokers in finalizing reinsurance at renewal.
• Assist with analytics in making underwriting changes and in understanding existing distribution channels.

Qualifications

• Degree in Actuarial Science or related discipline.
• Preferably a Fellow Member of the Actuarial Society of Malaysia or a member of a recognized Actuarial Institute or Society with 8 years' working experience in General Insurance industry.
• Analytical, research and creative problem-solving skills.
• Good written, communication and presentation skills.