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Senior Executive, Pricing (Life Insurance)

Senior Executive, Pricing (Life Insurance)

Generali MalaysiaKuala Lumpur, Kuala Lumpur, Malaysia
2 days ago
Job description

Talent Acquisition and Operations at Generali Life Insurance Malaysia Berhad

Summary : Responsible for the development of sound premium rates that align with the product pricing strategy, adhering to the company’s internal requirements and BNM regulations. Ensure products’ profitability and capital needs meet company objectives.

Responsibilities :

Product Pricing Strategy

  • Devise pricing strategy to ensure that they are in alignment with the product proposition to achieve business targets and meet the products’ profitability and capital needs of the company.
  • Build, update or enhance existing pricing model.
  • Preview, test and utilize competitor products and seek necessary mandate from the Product Development Team.
  • Prepare pricing analysis and seek necessary mandate from Product Development Team for quotation.
  • Work with reinsurer to gain access to product knowledge and risk pricing knowledge. Also establish relationship with reinsurer to ensure timely product support.
  • Preparing financial studies in Pricing Report to seek product approval from the relevant stakeholders.
  • Collaborate with Product Development Team to ensure that product is approved by relevant stakeholders, prior to seeking INM's approval (if required), and filing to BNM.
  • Partner with Product Development Team to prepare the needed document for timely submission of product filling for BNM’s product approval and responding to BNM's queries.

Product Implementation

  • Work with IT on developing, testing, and integrating systems.
  • Resolve Day 1 issues before product launch and to follow up on Day 2 issues to ensure completion.
  • Develop and maintain Excel Planner template and Inforce SI.

    • Special Projects Related to Pricing

  • Manage project timeline with the engagement of project manager.
  • Ensure timeliness of the project completion.

    • Ad Hoc Requests

  • Respond accurately to ad hoc requests from various stakeholders in timely manner.

    • Requirements

  • Degree in Actuarial Studies who is active in exam progress from recognised actuarial examination body.
  • 2 years of Actuarial or Pricing experience.
  • Sufficient understanding of insurance products and marketplace conditions and how they impact financial models and results.
  • Strong technical skill and logical thinking.
  • Strong problem solving skill and critical thinking.

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