Health Actuary

2 weeks ago

Singapore Munich Re Full time
Health Actuary

Company
Munich Re

Location
Singapore, Singapore

Munich Re is the world's largest reinsurer and a leading provider of reinsurance solutions in Asia.

The Regional Centre in Singapore has grown and expanded substantially over the past years with more than 300 employees currently.

Southeast Asia is one of the most exciting regions in the world and offers great opportunities for Munich Re.

Health Team


As part of our expansion for the Southeast Asia team, we are seeking an experienced Pricing Actuary with a focus in health insurance products to work in the Health Team.


The Health Team is currently formed of 7 individuals, which includes a Head, three qualified actuaries, two actuarial analysts and a data manager.

There is significant opportunity in the Health markets in South East Asia and the team is looking for a qualified actuary who can help them leverage these opportunities and grow the Munich Re Health portfolio profitably.


Your Job

  • Actuarial Analyses_
  • Pricing of health insurance products for our clients, based on deep statistical analyses of large volumes of experience data and medical, and other, research, in order to build appropriate pricing health assumptions;
  • Pricing of health reinsurance risk such as nonproportional arrangement;
  • Perform portfolio monitoring on a treaty level, based on loss ratios, to ascertain current experience and recent trends. Use of such analyses to identify segments of policyholders with poor experience and idea generation on appropriate remedial actions;
  • Develop enhanced and automated actuarial tools to enable scalable portfolio monitoring and more effective pricing, including GLMs;
  • Correspond with internal accountants, or clients, on data issues;
  • Generate IBNR factors for internal and external requirements.
  • Product Development _
  • Designing of new health insurance products/benefits with consideration of marketability visavis risk management;
  • Work closely with medical underwriters and other experts to ascertain the risk management of product features / new health risks, marketing approach and underwriting questions;
  • Participate in research and development work on medical trends in various SEA markets;
  • Client Liaising _
  • Share portfolio monitoring presentation analyses/slides, including mitigation actions where required, with both client managers and clients directly;
  • Generate new product ideas and present them internally and to clients;
  • Involvement in other client facing responsibilities and managing clients' requests;
  • Provide client managers support in handling product, and other, queries from clients;
  • Management _
  • Although no immediate management responsibilities, the individual would be expected to impart their technical knowledge to the rest of the team and guide junior colleagues;
  • In due course there could be scope for the individual to take on some management responsibilities.

Your Profile

  • Nearly, or Newly, Qualified Actuary (FSA, FIA, FIAA) with at least 6 years' total experience;
  • At least 3 years of experience in Pricing, including building all components of best estimate Health assumptions and carrying out 'deep dive' experience analyses, preferably in Health;
  • Experience of incorporating medical opinion and external judgement into Pricing assumptions / basis setting;
  • Experience in some of the South East Asian markets, including in Health products, regulation and commercial practices;
  • Ability to work with large volumes of data in SQL, or an equivalent tool, as well as strong skills in Microsoft Excel and Access;
  • Strong statistical analysis abilities, including in Generalised Linear Models or machine learning techniques, combined with sound judgement and commercial awareness;
  • Good communication skills with the ability to negotiate, present and share ideas with colleagues and clients;
  • Good understanding of reinsurance knowledge;
  • Ability to work independently, as well as with the team, take the lead on projects and provide effective training and coaching to more junior team members;
  • Excellent command of English both written and verbal.

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