Business Underwriting, Analyst/Specialist

AIA SINGAPORE PRIVATE LIMITED; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

AIA SINGAPORE PRIVATE LIMITED invites applications for a Group Insurance Actuary within Corporate Solutions. You will price employee benefits, develop products, analyze experience and manage portfolios to support strategic and financial goals.

You will work with senior management, finance, actuarial and group office, and interact with intermediaries, reinsurers and regulators to ensure profitability and compliance.

Qualifications

• Bachelor's degree in Actuarial Studies or Mathematics & Statistics required.
• Actuarial qualification from a recognized body with good progress towards qualification.
• Proficient with Microsoft Office (Word, Excel, PowerPoint, Access).
• Proficient with SQL and at least one programming language.

Responsibilities

• Pricing and Risk Assessment (60%) - Determine pricing for employee benefits insurance products per underwriting standards to maximize profits and retention.
• Product Development and Experience Analysis (15%) - Develop new products and enhancements, refresh pricing assumptions and tools, conduct experience analysis.
• Reinsurance Management and Administration (15%) - Submit reports for reinsurance and pool administration; review and analyze reinsurance treaties.
• Others (10%) - Perform additional duties to meet strategic, financial and operational goals.

Skills

Analytical thinking

Problem solving

Teamwork

Attention to detail

Project management

Education

Bachelor's degree in Actuarial Studies / Mathematics & Statistics

Actuarial qualification in progress

Tools

SQL

Microsoft Office

Tableau

Power BI

Quickview

Access

Job description

The position is responsible for supporting the Business Underwriting team in Corporate Solutions division. Responsibilities include pricing for group insurance policies, product development, portfolio management and benefit advisory to clients and intermediaries to support the divisions overall business strategic and financial goals.

The role holder will liaise with internal stakeholders including Senior Management, Finance, Actuarial and Group Office. External stakeholders include intermediaries, reinsurers, industry associations and regulators

Responsibilities:

• Pricing and Risk Assessment (60%) - Determine pricing for employee benefits insurance products in accordance with the company's underwriting standards, with the objective to minimize excess risks and maximize profits and retention. This includes regular review and monitoring to ensure portfolio profitability remains in line with best estimate assumptions.
• Product Development and Experience Analysis (15%) - Developing new products and enhancements to existing products in line with company's product standards. This includes refreshing pricing assumptions, pricing tools and conducting regular experience analysis.
• Reinsurance Management and Administration (15%) - Ensure timely and accurate submission of reports for reinsurance and pool administration, and assist in the review, negotiation, and analysis of reinsurance treaties.
• Others (10%) - Other responsibilities and duties periodically assigned in order to meet overall business strategic, financial and operational goals.

Requirements:

• Bachelor's degree in Actuarial Studies / Mathematics & Statistics
• At least 2 to 7 years of actuarial experience in Group Insurance / Employee Benefits / Health Insurance with a direct insurer or reinsurer.
• Professional actuarial qualification from a recognized international actuarial body with good progress towards qualification.
• Proficient with Microsoft Office (Word, Excel, Powerpoint, Access)
• Proficient with SQL and at least one programming language
• Experience with BI tools, e.g. Tableau, Quickview, Power BI, etc.
• Meticulous and detailed
• Strong analytical and problem-solving skills
• Able to work both independently and within a team
• Able to effectively manage multiple projects and priorities within tight timelines