AXA Insurance is part of the AXA group, a worldwide leader in insurance and asset management, with 160,000 employees serving 108 million clients in 57 countries.
Present in Singapore since 1969, AXA Insurance has been serving the general and life insurance needs of individuals and companies in Singapore through a wide range of innovative products. As one of the top global insurers in Singapore, AXA Insurance protects more than a third of a million customers in Singapore. As a company whose business is about protecting people, AXA Insurance is committed to building a stronger and safer society by empowering customers to live better lives.
About the department:
The Health Insurance Line of Business is one of the key growth engines of AXA Singapore, as AXA tries to reach achieve its ambition to be the preferred Health Insurance Partner.
The role is specifically required to provide support on a major health project ongoing in the organization.
The position of Pricing Actuary for the Health Line of Business would play a pivotal role in ensuring sustainable and profitable growth. The candidate would be involved in strengthening AXA Singapore’s Pricing expertise (both technical and commercial) working extensively with data, valuation, health underwriting and product development teams. The role is required to be involved on the active portfolio management to help the company achieve the strategic plan.
The candidate would also be involved in strengthening AXA Singapore’s Product marketing and campaigns expertise (both strategic and commercial) working extensively with product developers, Marketing and Digital. The role is also responsible for implementing the relevant sales campaigns action to promote our full Health product portfolio towards intermediaries and customers.
A glimpse of your daily mission:
- Ownership of the Group Health pricing tool for existing and new offers & other products pricing tools with the objective of continuously improving it in terms of a) technical accuracy b) functionality in easing and improving processing c) utilization rate.
- Calculating the technical price for both Individual and Group Health Lines of business and being involved in launching the product including the responsibility for the implementation of the product in the administrative system
- This specific project in addition required to incorporate data from a new system into all the reports, analysis and tool.
Portfolio Management Process:
- Supporting on enhancing and upgrading various monitoring tools and reports for any new product and new offer
- Supporting the execution of the Actuarial control cycle for the health LOB by Assisting the valuation / reserving team in a) the periodic reserving exercises and b) the Strategic plan exercise. The objective is to give relevant inputs on trends in business mix, pricing and claims frequency / severity, and to take early feedback from reserving on the profitability trends.
- Supporting various claims related and other analyses which help business to have more insights into the portfolio
- Providing visibility on all profitability/loss trends (and their drivers) in the Health LOB, and giving a periodic analysis of the same to senior stakeholders to help design the strategies to achieve the strategic plan. This will include but not limited to monitoring the inflation, actual vs expected studies for all products, the key profitability/loss drivers and recommendations.
- Enhancing the standard reports and data management to support the above.
In this appointment, you will be expected to undertake such reasonable duties – not only limited to the scope mentioned above, due to the ever evolving nature of the financial services industry. Depending on changes in business needs and the quality of your contribution, your designation, position and duties may be subject to revision
Successful qualifier of this mission
- University degree in Actuarial or have cleared some actuarial exams
- 3 to 6 years of experience in Actuarial work
- Strong Analytical skills to be able to analyze the data
- Good understanding of the basic actuarial concepts
- Experience of working on Python and/or Emblem
- Good at MS-EXCEL and VBA coding
Apply here: Specialist, Health Product & Pricing