Product Actuary

LIBERTY SPECIALTY MARKETS SINGAPORE PTE. LIMITED; Singapore; On-site; SGD 70,000 - 95,000; Full time

Job summary

A leading insurance provider in Singapore is seeking a qualified Actuary to support APAC business goals. This role involves providing high-quality actuarial advice in pricing, product development, and business planning. Candidates should have at least 5 years of experience in the insurance industry, with strong proficiency in Excel and knowledge in programming tools like VBA, SQL, or Python. This position offers opportunities for professional development and collaboration with senior managers across various departments.

Qualifications

• Qualified Actuary with ideally 2+ years post qualification experience.
• Minimum 5+ years’ experience in the insurance industry.
• Commercial Insurance experience is desired but not a prerequisite.
• Excellent working knowledge of PC based systems and applications.
• Advanced level of Excel skills required.
• VBA, SQL or Python skills are desirable.

Responsibilities

• Partner with APAC Third Party business for planning and pricing.
• Liaise with underwriters on pricing calculators.
• Conduct case pricing for large accounts.
• Prepare segment analysis for actuarial reviews.
• Enhance portfolio performance reporting.
• Provide historical data analysis for planning.
• Offer technical support to business functions.
• Ensure compliance with legal and corporate requirements.

Skills

Qualified Actuary

2+ years post qualification experience

5+ years in insurance industry

Commercial Insurance experience

Knowledge of Casualty/Liability/Long Tail classes

Advanced Excel skills

VBA

SQL

Python

Tools

Outlook

Word

PowerPoint

MS Access

Job description

As a key partner to the APAC business unit, the Actuary will support the Asia Pacific profit, growth and operational objectives by providing meaningful, insightful, high quality and timely actuarial advice. Actuarial analysis will be in the areas of pricing, product development, research/support, business planning and finance. The role provides consultation to senior managers and employees across the business on actuarial, financial, and business planning. It also manages, or participates in, projects designed to improve the quality of information, analysis, and process.

Responsibilities:

• Partnering with APAC Third Party business and supporting the Senior product actuary in business planning, account pricing, portfolio monitoring, segment analysis, rater review and enhancement.
• Liaising with underwriters to review and enhance pricing calculators, ensuring alignment with the latest claims trends, expense structures and market conditions.
• Conducting case pricing of individual large accounts, providing clear, commercially balanced recommendations to underwriters.
• Preparing segment analysis and exhibits for quarterly actuarial reviews; actively discussing quarterly portfolio experience with underwriters and claim employees.
• Maintaining and enhancing portfolio performance reporting, exploring opportunities to leverage centralized actuarial tools and platforms.
• Providing historical data analysis and prospective estimates in support of the planning process. Work with reserving teams to ensure assumptions are aligned and feedback loops are in place.
• Offering technical support to the Third Party business functions including but not limited to, underwriting, claims, finance, reinsurance and compliance.
• Taking ownership of deliverables, ensuring accuracy, thorough review, and timely completion.
• Providing technical training and guidance to junior team members and supporting their professional development.
• Contributing to an effective team environment by interacting professionally with all team members and providing development, support and assistance as required.
• Ensuring compliance with all legal, statutory and corporate affairs requirements in a timely basis.
• Taking responsibility and showing initiative in the development of your technical and soft skills.
• Continuing to seek improvement of the product by the continuous improvement of practices and processes.
• Performing other related duties as assigned by your manager or other appropriate officer.

Experience & Skills:

• Qualified Actuary with ideally 2+ years post qualification experience.
• Minimum 5+ years’ experience in the insurance industry. Commercial Insurance experience is desired but not a prerequisite.
• Knowledge of Casualty/ Liability/ Long Tail classes is desirable.
• Excellent working knowledge of PC based systems and applications such as Outlook, Word, PowerPoint and MS Access, with advanced level of Excel skills required.
• VBA, SQL or Python skills are desirable.