Pricing Intern

AIA Singapore; Singapore; On-site; SGD 13,000 - 20,000; Part time

Job summary

AIA Singapore invites undergraduates to join the Actuarial internship program, with projects in pricing, experience studies, and cashflow checking on new products depending on suitability and timing. You will support the maintenance and enhancement of the Actuarial Pricing Excel model, generate key financial metrics, and assist in product changes, UAT, and system outputs validation.

This experience will deepen your understanding of life insurance products and the administration system while

Qualifications

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

Responsibilities

• 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

Skills

MS Office

Education

Actuarial Science undergraduate

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 themmoji moji >!
• 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.

ABOUT AIA

For over a century, AIA has served the ever-changing needs of our customers across Asia-Pacific. Our Purpose to help millions of people live Healthier, Longer, Better Lives is at the heart of everything we do.

As pioneering innovators, we're now transforming AIA to be faster, simpler and more connected to create better solutions and impactful experiences for our customers and communities. AIA encourages and enables our people to act with clarity, courage and humanity in service of our Purpose.

JOIN US

At AIA, 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. Whether it's investing better wellbeing, inspiring better learning, building better relationships, or making a better impact on customers, a career at AIA will challenge you to find new ways to pursue your 'better'. AIA is committed to building a vibrant, diverse, and inclusive workforce for all employees to thrive in. Join us if you believe in creating a better tomorrow!