Pricing AVP from a direct life insurer (Thailand)
Pricing
- Provide support on product design and review features with consideration to risk and regulatory constraints.
- Ensure accuracy of product modelling and appropriateness of assumptions used for pricing and profit testing.
- Prepare internal product approval documents and provide quality analysis for decision-making.
- Prepare OIC filing documents and provide support on regulator queries.
- Review sales material and policy contract to ensure alignment with product design and intention.
- Ensure compliance with regulations and corporate policy in regard to product designs, profit criteria, and competitiveness.
- Manage timeline and quality of the assigned pricing project, and highlight any issue to the management in a timely manner.
Product performance and reporting
- Monitor new product performance in terms of production, financial result, actual experience, selling process and other factors.
- Support analysis required for Product Mix and Profitability Committee decision-making
- Coordinate annual product/SPV review and post-implementation review.
Pricing process and product incident management
- Support in reviewing efficiency, effectiveness and soundness of current pricing process, and implementing improvement plans.
- Act as key lead on product incident management from Pricing team
Product management and reinsurance process
- Actively engage stakeholders to discuss and address product-related issues.
- Coordinate reinsurance arrangement and, ensure the terms and conditions of new treaties are fair and match with the product features.
- Provide support during the IT implementation phase and sales illustration including performance of comprehensive UAT and table set up.
Team Development
- Develop the capabilities of the team such that team members are able to generate, analyze and explain required financial with minimal supervision.
- Ensure team members are provided with the opportunity and exposure to learn and grow in the intended area of development.
Special projects
- Manage special projects assigned by Head of Life Pricing to expand the knowledge and leverage the experience from other departments and entities