Senior Pricing Manager

eastwest ageas insurance; Taguig; On-site; PHP 1,200,000 - 1,800,000; Full time

Job summary

EastWest Ageas Insurance in the Philippines seeks an actuary involved in product development for life and health lines, with strong pricing and regulatory documentation skills. The role requires collaboration across operations, marketing, sales and systems, and effective support to distributors and underwriters.

The incumbent will monitor profitability, assess risks, and propose product changes in response to experience and market conditions, ensuring sound product design and regulatory

Qualifications

• Bachelor (4-year) degree in math, statistics, computer science or economics.
• Committed to qualifying as FASP and have demonstrated progress with the actuarial exams.
• 3 to 5 years exposure to life insurance product development, preferably with experience in both individual and group products.
• Project management skills and ability to co-ordinate contributors from operations, marketing, sales and systems departments.

Responsibilities

• Review recommended designs and assumptions of profitable products and support reinsurance negotiations.
• Assess profitability and risks of products in the portfolio and propose changes as needed.
• Provide technical support to distributors and back-office staff including pricing support and special computations.
• Lead development of profitable new generation life and health products and prepare pricing/IC documentation.
• Support underwriting with tools and inputs for various distribution channels and conduct UAT for new products.

Skills

Actuarial exams progress

Project management

Life insurance product development

Cross-functional coordination

Education

Bachelor degree in math, statistics, computer science or economics

Job description

Overall purpose, duties and responsibilities of the role:

You will be responsible for reviewing recommended designs and assumptions of profitable products, supporting negotiations for fair reinsurance arrangements, seeking regulatory approval; and supporting effective delivery of system solutions. You will also be responsible for on-going assessment of profitability and risks of products in the portfolio in consideration of emerging experience and market conditions; and recommend and implement product changes to address key issues, if any.

You will also be responsible for providing technical support to distributors and back-office support employees, which includes group pricing support, request for special computations, advisory function, among others.

Other Responsibilities:

• Support EWA in leading the development of profitable new generation life and health products
• Product pricing and the preparation of Insurance Commission documentation for approval of new products
• Manage product approval process with the Insurance Commission
• Support Underwriters by providing the tools to implement the underwriting procedures necessary for various distribution channels and products.
• Provide inputs to systems specifications and conduct UAT for the implementation of new and revised products
• Interprets the financial implications of actuarial results to the product development and distribution channels.
• Assess the experience of group business and recommend rates to achieve the desired level of profit.
• Ensure sound product design avoids unwarranted risk factors
• Asset liability management particularly with regard to interest rate sensitive offerings
• Support negotiations for a fair reinsurance arrangement to keep risks within the company's risk appetite.

Experience review

• Monitors product profitability, mix, lapse, expense, claims, productivity and other experience; and recommend product changes to address key issues, if any;

Technical Support

Provide technical support to distributors and back-office support to employees

Essential Skills / Qualifications:

• Bachelor (4-year) degree, with a math, statistics, computer science or economics major
• Committed to qualifying as FASP and have demonstrated progress with the actuarial exams
• 3 to 5 years exposure to life insurance product development, preferably with experience in both individual and group products
• Project management skills and ability to co-ordinate contributors from operations, marketing, sales and systems departments