Actuary Pricing Analyst

Main Responsibilities:

Conduct Pricing Calculations and Analysis

• Develop and apply mathematical models to calculate insurance product pricing and other financial schemes.
• Use historical data, market trends, and risk factors to estimate optimal and sustainable premium pricing.
• Provide pricing recommendations that align with the company’s business strategy and regulatory requirements.

Evaluate Product Performance

• Measure and analyze insurance product performance based on financial and operational metrics.
• Prepare regular performance reports and offer insights into the efficiency and profitability of products.
• Identify factors affecting product performance and offer recommendations for improvement.

Gap Analysis and Product Review

• Conduct gap analysis between the actual product performance and the company’s targets or expectations.
• Develop action plans to close gaps, including recommendations for improvements in product features or underwriting processes.
• Collaborate with product, marketing, and business development teams in reviewing and innovating products.

Risk Management and Compliance

• Ensure pricing calculations and product development comply with applicable insurance regulations and actuarial standards.
• Identify relevant risks related to products and pricing, and develop effective risk mitigation strategies.

Cross-functional Team Collaboration

• Collaborate with actuarial, risk management, product, and finance teams to ensure accurate pricing strategies.
• Communicate with IT and data departments to ensure the data used in pricing models is accurate and up-to-date.

Actuarial Model Development and Maintenance

• Develop, maintain, and update actuarial models to support pricing calculations and risk analysis.
• Use actuarial software and analytical tools such as Excel, R, or Python to build models and generate reports.

Expected Qualifications:

• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, or a related field.
• Professional actuarial certification (Fellow or Associate) is a plus.
• Minimum 2-4 years of experience in insurance pricing or financial analysis.
• Strong analytical skills with a deep understanding of actuarial principles, insurance, and risk management.
• Proficiency in actuarial software and data analysis tools such as Excel, R, or Python.
• Excellent communication skills and ability to work within cross-functional teams.