Product Actuarial Specialist
Job Level:
Entry Level
Location:
Bangkok, TH, 10330
Area of Expertise:
Actuarial
Unit:
Allianz Thailand
Employing Entity:
Allianz Ayudhya Assurance Pcl.
Job Type:
Full-Time
Remote Job:
Hybrid working
Employment Type:
Permanent
ID:
75236
Position Cluster:
Non-Executive
Job Summary:
This position is responsible for ensuring the alignment of strategies, policies, guidelines, and procedures related to actuarial pricing management. The role involves developing actuarial models, performing technical pricing and product testing, analyzing experience data for key pricing assumptions (as needed), and providing actuarial, pricing, and product development support to other departments.
Key Responsibilities:
1) Actuarial Pricing and Product Development
- Develop actuarial models to calculate premium rates and other product values.
- Provide support for product design and review, and offer comments on product features with consideration of risk and regulatory requirements.
- Develop actuarial models to support profit testing.
- Ensure that pricing assumptions used in profit testing reflect expected product behavior.
- Review policy contract provisions to ensure alignment with product design; raise concerns and provide comments when necessary.
- Prepare supporting documents for submission to regional office and regulator.
- Respond to inquiries from regional office staff and regulatory bodies related to product filing.
- Actively participate in the Product Development Implementation Team to discuss and review product development matters.
- Review product specifications and assist with system setup for new products or product modifications, including User Acceptance Testing (UAT).
- Contribute to the preparation of product proposals for partners, particularly around sales compensation structure, to ensure competitiveness and profitability.
2) Experience Analysis
- Perform experience analyses of key assumptions e.g. claims, mortality and persistency
3) Sales Material Support
- Support the preparation and review of sales materials, including sales illustration systems, brochures, agency manuals, and training materials.
Required qualification:
-
- Bachelor’s or master’s degree in actuarial sciences, Statistics, Mathematics, Finance or related field
- 0-1 years of experience in Actuarial Pricing and/ or Product Development in insurance or banking business
- Strongly in actuarial, numeric, insurance pricing skills
- Familiar with Excel advance VBA, R, Python, Power BI
- Good English communication
- Strong coordination and presentation
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