Specialist - Life & Health Product Actuarial

About the Role

We are seeking a highly analytical and detail‑oriented Life & Health Product Actuarial Specialist to join our actuarial pricing and product development team. This role is responsible for ensuring alignment of actuarial strategies, supporting new product development, performing pricing analyses, and providing technical expertise to cross‑functional stakeholders. You will play a vital role in shaping competitive and sustainable L&H products that meet both customer expectations and business objectives.

What You Will Do

Actuarial Pricing & Product Development

• Develop actuarial models to determine premium rates, reserves, and other product values.
• Support product design and conduct reviews of product features to ensure alignment with risk appetite, regulatory requirements, and market competitiveness.
• Perform profit testing and ensure pricing assumptions accurately reflect expected product experience.
• Review policy contract wording to ensure consistency with product specifications; raise issues and provide recommendations when necessary.
• Prepare detailed documentation and submissions for regional teams and regulatory authorities.
• Coordinate and respond to product‑related inquiries from regional stakeholders and regulators.
• Participate actively in product development forums and implementation meetings.
• Review product specifications and partner with related teams on system configuration, including User Acceptance Testing (UAT).
• Support development of product proposals and provide analysis on sales compensation structures to ensure product profitability and competitive positioning.

Experience Analysis

• Conduct experience studies on key assumptions including claims, mortality, and persistency, and provide insights to support pricing decisions and assumption setting.

Sales Material & Distribution Support

• Review and validate sales materials, including illustration systems, brochures, manuals, and training content, ensuring accuracy and regulatory compliance.

What We Are Looking For

Must Have

• Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Finance, or a related field.
• Minimum 1 year of experience in actuarial pricing and/or product development within the insurance or financial services industry.
• Strong actuarial technical skills, analytical thinking, and attention to detail.

Nice to Have

• Knowledge of life insurance industry practices, products, and regulatory environment.

• Experienced in using Advanced Microsoft Excel, Power BI, and capable of working with various data analytics software for effective data processing and analysis.

• Progress in actuarial professional exams is an advantage.
• Familiarity with AI‑driven tools (e.g., ChatGPT, Microsoft Copilot 365).

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges is what makes us a unique employer. We are united by a shared commitment: to put our customers first and at the centre of everything we do. Their needs inspire our thinking and guide our actions. Together, we can build an environment where everyone feels empowered and confident to explore, grow and shape a better future – for our customers and for the world around us. At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. The foundation for this is our inclusive workplace, where people and performance both matter, and where integrity, fairness, inclusion and trust are at the heart of our culture. We therefore welcome applications regardless of ethnicity or cultural Internal background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us. Let's care for tomorrow.