Associate Actuary

AIG ASIA PACIFIC INSURANCE PTE. LTD.; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A leading insurance firm in Singapore is seeking an actuary to join their APAC actuarial team. This role involves supporting underwriting performance and collaborating closely with various departments. The ideal candidate is a newly or nearly qualified actuary with strong pricing experience and proficiency in SQL, Python, or R. Excellent communication skills and the ability to work in a team are essential for success in this position.

Qualifications

• Newly or nearly qualified actuary with good progress towards qualification.
• Extensive pricing experience in the General insurance industry.
• Familiarity with traditional actuarial techniques and models.
• Effective time management skills, ability to manage multiple tasks.
• Strong verbal and written communication skills.

Responsibilities

• Support delivery of underwriting performance and actuarial elements.
• Monitor rates levels and articulate trends to senior management.
• Conduct pricing model calibration reviews for Commercial portfolios.
• Perform annual profitability studies and communicate findings.
• Provide actuarial guidance on portfolio management.

Skills

Commercial lines pricing

Team collaboration

Effective communication

Problem-solving

SQL

Python

R

Education

Progress towards professional actuarial qualification

Tools

SQL

Python

R

Emblem/Radar Enhanced Analytics

Job description

How you will create an impact

You will support the AIG APAC insurance business, and work as a member of the APAC actuarial team to achieve goals and deliver on strategic initiatives. You will work with analysts and experienced actuaries as part the regional team to provide actuarial advice to the business functions including profit centres, underwriting, finance, and risk management.

Key responsibilities include:

• Support the delivery of underwriting performance, actuarial and risk management elements of Commercial lines to meet the Profit Centre strategic objectives.
• Ensure seamless monthly monitoring of rates levels, rate changes and rate adequacy and articulate key trends effectively to senior management and business stakeholders.
• Carry out pricing model calibration reviews for Commercial portfolios.
• Perform annual profitability studies for APAC profit centres and communicate results and findings optimally to senior management, business managers, and underwriting managers to effectively steer portfolio management activities.
• Participate in annual planning exercise and provide actuarial inputs for the portfolio.
• Provide actuarial guidance and business insight on portfolio management utilizing internal and external data where applicable; leverage efficient group capital management and reinsurance strategies.
• Collaborate closely with underwriting, reserving actuaries, claims department, and cat modelling/risk aggregation to identify insights that will be used to improve risk classification and enhance risk aggregation.
• Manage data support where not maintained centrally and reinforce the importance of high-quality data.
• Review the appropriateness of the reinsurance programme and reinsurance cost allocations to meet the ongoing needs of the business, as well as providing experience, expertise and insight into complex projects.

What you’ll need to succeed

You should have some prior experience in commercial lines pricing, in particular Commercial Property. Be a team-player with the ability to build collaborative relationships.

Additional requirements include:

• Candidate who are newly or nearly qualified actuary with good progress towards pursuing a professional actuarial qualification.
• Extensive pricing experience in the General insurance industry.
• Familiarity with traditional actuarial techniques and models.
• Effective time management skill, ability to manage multiple tasks simultaneously and prioritize according to business needs and impacts.
• Ability to work as part of a team as well as take responsibility for his/her individual contribution.
• Strong verbal and written communication skills, ability to work with cross-functional teams and forge good work relationships with other areas of the business.
• Possess working knowledge of SQL, Python, R or similar software tools. Prior experience working with modelling software such as Emblem/Radar Enhanced Analytics is highly preferred.
• Natural inclination to problem-solve with a deep sense of curiosity.