Pricing Intern

AIA Hong Kong and Macau; Singapore; On-site; SGD 13,000 - 26,000; Full time

Job summary

AIA Singapore carries a wide range of life insurance products and has an actuarial department responsible for pricing, valuation, capital management, and more. Interns will be assigned to projects such as experience studies or cashflow checking on new products during the Program.

As an actuarial intern you will support pricing models, generate financial metrics, assist with product changes, and gain exposure to policy illustrations and customer inquiries.

Qualifications

• Undergraduate student majoring in Actuarial Science.
• Proficient in Microsoft Office tools.

Responsibilities

• Support the Actuarial Pricing Excel model for special quotes.
• Generate key financial metrics from the pricing model to support evaluations.
• Assist in product changes and new product launches, including preparing/updating tables for system uploads and performing UAT.
• Use calculation tools to produce policy value and benefit illustrations.
• Assist in responding to customer enquiries and drafting explanations.
• Contribute to system enhancements and service recovery initiatives.

Skills

Microsoft Office

Education

Actuarial Science (undergraduate)

Tools

Excel

Job description

FIND YOUR 'BETTER' AT AIA We don’t simply believe in being ‘The Best’. We believe in better - because there’s no limit to how far ‘better’ can take us. We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives. If you believe in better, we’d love to hear from you.

About the Role

AIA Singapore carries a wide range of life insurance products and has a wide range of distribution channels. The Actuarial department is responsible for functions such as pricing (new products, compensation to distribution channels, vitality program), valuation of liabilities, capital management, economic capital, asset and liability management, managing profitability of the in-force business, experience studies, financial reporting on various basis and reinsurance. Interns will be assigned to one or more of the following projects (e.g. experience studies or cashflow checking on new products) during the Program depending on suitability, interest and timing (as projects are scheduled during different parts of the year).

WHAT YOU’LL BE DOING

• Support the maintenance and enhancement of the Actuarial Pricing Excel model e.g. for Special Quotes
• Generate key financial metrics from the Actuarial Pricing Excel model to support financial evaluations and decision-making
• Provide end-to-end operational support for product changes and new product launches, including preparing and validating tables for administration system uploads and conducting User Acceptance Testing (UAT) to ensure system outputs are accurate
• Utilize and/or verify calculation tools to generate policy value and benefit illustrations for policyholders
• Assist in addressing customer enquiries by understanding and verifying queries, drafting responses or explanations, and performing policy alterations when necessary to resolve issues
• Contribute to system enhancement initiatives and service recovery work

WHAT YOU SHOULD HAVE

• Undergraduate who is majoring in Actuarial Science
• Proficient in Microsoft office tools

LEARNING OUTCOME

• Insight of various life insurance product types and their key features
• Understanding of the administration system of life insurance products and the importance of its accuracy
• Exposure to key financial metrics and the formulas used to calculate them
• Brushing up communication skills by conveying complex actuarial concepts into layman-friendly language

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives. You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date. At AIA we’ve started an exciting movement to create a healthier, more sustainable future for everyone. It's about finding new ways to not only better people's lives, but to better the communities and environments we live in. As the largest listed company on the Hong Kong Stock Exchange, we’ve been proudly making a difference for people and communities across Asia for over a century. And we build on this every day with our ambition to engage one billion people to live Healthier, Longer, Better Lives by 2030. If you work at AIA, you play an important part in this movement. Which is why we give you every opportunity to learn, grow and shape your career - your way. Inspiring and supporting you to thrive - not just at work, but in life. Believe in better with AIA. View our AIA LinkedIn page Bring your difference to AIA