Senior Executive, Pricing (Life Insurance)

Generali; Kuala Lumpur; On-site; MYR 60,000 - 80,000; Full time

Job summary

A leading insurance company in Kuala Lumpur is seeking an experienced Pricing Strategist to devise and implement pricing strategies aligned with business targets. You will work closely with the Product Development Team to ensure timely approvals and manage special projects related to pricing. Candidates should have a degree in Actuarial Studies, with at least 2 years of actuarial or pricing experience, and a strong understanding of insurance products and marketplace conditions.

Qualifications

• Active progress in actuarial exams from recognized examination body.
• 2 years of actuarial or pricing experience.
• Sufficient understanding of insurance products and market conditions.

Responsibilities

• Devise pricing strategy to align with business targets.
• Collaborate with Product Development Team for product approvals.
• Manage project timelines for special projects.

Skills

Strong problem-solving skill

Logical thinking

Technical skills

Education

Degree in Actuarial Studies

Job description

Responsibilities:

1. 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.

Build, update or enhance existing pricing model.

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

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.

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 INM's 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.

2. Product Implementation

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

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

Develop and maintain Excel Planner template and Inforce SI.

3. Special Projects Related to Pricing

Manage project timeline with the engagement of project manager.

Ensure timeliness of the project completion.

Requirements:

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

2 years of Actuarial or Pricing experience.

Sufficient understanding of insurance products and marketplace conditions and how they impact financial models and results.

Strong technical skill and logical thinking.

Strong problem-solving skill and critical thinking.