Pricing Actuarial Officer

JOB PURPOSE:
Participate in designing new products
Price new products, revamp current products
Perform relevant actuarial tasks including modeling, and technical support for salesforce
Cooperate with relevant departments in launching new products, completing product guidelines
Support sale channels and customer service departments
Perform other tasks upon the manager' requests
1, Participate in designing new products:
Cooperate with relevant departments (sales, bancassurance, marketing) to research market demand, and competitors' products, and compare the company's products to competitors' products to identify the differences.
Propose ideas on new products from a product development perspective
2, Price new products, and revamp current products:
Participate in evaluating, proposing, and setting up pricing assumptions
Participate in determining the appropriate pricing model for each product including benefits cashflow, financial KPI, premium rates, policyholder's cashflow, premium comparison with other similar products in the market
Perform pricing reports and related pricing documents
Calculate commissions, expenses, or exclusive payments for special channels such as digital channel, tele sale channel
Participate in providing pricing guideline
3, Product Monitoring:
Monitoring profitability of product and supporting line manager to proposal suitable management actions for future product strategy.
4, Perform relevant actuarial tasks:
Work with reinsurer on reinsurance rates, perform reinsurance reports periodically
Provide comments on risk assessment and underwriting from a product development perspective
Propose relevant comments on other actuarial tasks
5, Cooperate and support relevant departments in launching products, and complete product regulations and guidelines:
Discuss with other internal and external stakeholders on product features, illustrations, regulations and product guidelines, product configuration documents
UAT for business functions in IT systems (SAP, EBAO, or other systems)
Participate in conducting and completing product regulations
6, Support sales and customer services:
Support relevant departments of HO (claim management, policy management...)
Support branches following their requests
7, Other tasks upon the manager's requests:
Provide assessments/information following relevant departments (for example, Bancassurance)
Provide figures following requests of auditors
Provide comments on relevant plans of the company