Regional Personal Lines Actuary, APAC

AIG APAC HOLDINGS PTE. LTD.; Singapore; On-site; SGD 20,000 - 60,000; Full time

Job summary

A major insurance firm in Singapore is seeking a Regional Personal Lines Actuary to support underwriting performance and provide actuarial advice. The ideal candidate will have a strong actuarial background, preferably in auto, and demonstrate excellent collaboration and organizational skills. This is an opportunity to join a dynamic team and impact the actuarial function significantly.

Qualifications

• Strong actuarial experience, preferably in auto insurance.
• Ability to dissect complex business issues and synthesize strategies.
• Proven proficiency in actuarial concepts and methodologies.

Responsibilities

• Oversee delivery of underwriting performance and risk management.
• Engage with actuarial function and business heads.
• Coordinate pricing activity with pricing actuaries.

Skills

Actuarial pricing and reserving methodologies

Collaboration skills

Strong organizational skills

Excellent communication skills

Education

FIA or FCAS (or equivalent)

Job description

At AIG, we are reimagining the way we help customers to manage risk. Join us as a Regional Personal Lines Actuary, APAC to play your part in that transformation. It’s an opportunity to grow your skills and experience as a valued member of the team.

Make your mark in Actuarial

Our Actuaries are on the front lines, quantifying risk, pricing insurance and reserving losses for AIG’s major insurance operating companies, globally. We collaborate with Finance, Claims, Operations, Marketing and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk.

How you will create an impact

• Support and oversee the delivery of underwriting performance, actuarial and risk management elements of the APAC Auto and Personal Property lines to meet the profit centre strategic objectives.
• Engage with the wider Actuarial function and business P&L Heads.
• Coordinate and support the pricing activity in the region, working together with the other pricing actuaries.
• Monitor profitability for APAC profit centres and work with management to set rate targets each year.
• Provide strategic actuarial advice to senior management with respect to issues such as rate indications and pricing.
• Develop structure for regular review of rate adequacy and profitability.
• Carry out price adequacy reviews and review the appropriateness of the reinsurance programme to meet the ongoing needs of the business, as well as provide experience, expertise, and insight into complex projects.
• Put action plan in place to ensure seamless monitoring of rate levels, rate changes and rate adequacy.
• Coordinate and ensure consistency in approach and execution of pricing assessments, rate development and rating models.
• Provide actuarial guidance and business insight on portfolio management; leverage efficient group capital management and reinsurance strategies
• Manage data support where not maintained centrally and reinforce the importance of high-quality data.
• Work closely with the technical pricing function to enhance pricing and modelling capabilities. Drive the implementation of first-in-class rating and portfolio management tools.
• Work 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.
• Engage with finance on execution of planning exercise and forward looking scenarios.
• Keep aware of emerging issues affecting product lines in the region and adjusts analysis as appropriate.
• Collaborate with regional actuarial functions supporting a one-team ethos.
• Drive a culture that promotes collaboration, diversity and inclusion.

What you’ll need to succeed

• FIA or FCAS (or equivalent) with strong actuarial experience, preferably in auto and with exposure to multiple functions (e.g., technical pricing, aggregate pricing, reserving, data, analytics).
• Advanced knowledge of actuarial pricing and reserving methodologies and techniques.
• Proven proficiency in actuarial concepts/methodologies and ability to coach non-technical managers on technical areas that enhance their decision-making ability.
• Strong business and collaboration skills, and responsive to service needs and operational demands.
• Work well both independently and as part of a team.
• Excellent management and leadership skills.
• Proven ability to dissect complex business issues, perform research and analysis, and synthesize conclusions into a digestible, value-maximizing strategy.
• Ability to dive into technical and execution level details, do hands-on work, connect the dots while thinking strategically and serve as strong thought partner of cross functional leaders.
• Strong organizational and communication skills, with the ability to confidently present internally and externally and influence outcomes.
• Ability to maintain strong professional relationships across the underwriting community.
• Comprehensive awareness of the business, regulatory environment, competitors, market cycle, technology and legislative trends.
• Highest level of personal and professional integrity.

Ready to take your career to the next level? We would love to hear from you.