Pricing and Business Development Senior Manager from a direct insurer (Hong Kong)
Job Responsibilities:
- Re-invent healthcare in Hong Kong with advanced actuarial and analytics tools;
- Lead commercial discussion on product viability and pricing, proactively provide ideas and recommendations on product design to enhance the competitiveness of products;
- Partner closely with the Marketing and Distribution team to offer innovative pricing strategy and help achieve company sales targets;
- Develop partnership models or alternative financial solutions for business growth
- Manage pricing processes including but not limited to Value-of-New Business (VNB) reporting, experience monitoring, experience study and product pricing approval:
1. ensure timely production of pricing reports with clear documentation and approval from the International Health Actuarial (IHA);
2. manage new product launch implementation such as product proposal and policy provision review, reinsurance arrangement, system UAT, etc.
- Develop and maintain pricing assumptions and models with sound pricing methodologies, including but not limited to mid- and long-range forecast on pricing trends such as medical inflation and any new significant healthcare trends;
- Provide all aspects of pricing support on product development activities, business development initiatives, loss mitigation strategies and other ad-hoc projects;
- Communicated closely with IHA to uphold actuarial best practices, develop capabilities of the pricing team through training, coaching, planning and prioritizing resources;
- Communicate actuarial concepts and principles to stakeholders
Requirements:
- Degree holder in Actuarial Science or related disciplines;
- Fellowship in a recognized international actuarial professional body;
- At least 8-12 years of actuarial experience in insurance industry; experience in medical pricing is a plus;
- Strong knowledge in cash flow and policy liabilities projections with experience in Prophet or equivalent actuarial software; knowledge in USGAAP, IFRS 17 and RBC is value-added;
- Excellent analytical skill with established skills in data processing software;
- Good communication and interpersonal skills with good command of English;
- Ability to work and solve problems independently under pressure;
- Candidate with less experience/ qualification will be considered as Manager.