Health Actuary

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 6 individuals, which includes a Head, two 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 senior qualified actuary who can help them leverage these opportunities and grow the Munich Re Health portfolio profitably.

**The role**

We are looking for an individual who will lead the pricing and re-pricing work for SEA Health, manage this responsibility through both strong individual contribution and effective delegation, and guidance of junior colleagues. In addition they should expect to be challenged by the Head on a technical level and should be able to adapt their approaches, and the team’s existing approaches, to further advance the analysis of our Health treaties.
- Management _
- This individual would be expected to take on the responsibility for a wide range of pricing and re-pricing projects, and to manage this through both strong individual contribution and effective delegation.
- As such, the individual should be able to manage junior colleagues, through providing clear guidance on projects at each step and imparting their technical knowledge;
- 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 re-insurance risk such as non-proportional 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 vis-a-vis 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;

**Required profile**
- Qualified Actuary (FIA, FSA or FIAA) with at least 5 years’ experience post qualification;
- At least 10 years of experience in Pricing, including building all components of best estimate assumptions and carrying out ‘deep dive’ experience analyses, preferably in both Health and Life;
- Experience in one or more of the Thailand, Indonesia, Malaysian or Vietnamese Health markets, including in products, regulation and commercial practices;
- Ability to work independently, as well as managing some team members. Ability to take the lead on projects and provide effective training and coaching to more junior team members;
- Experience of incorporating policyholder behaviour arising from product design, medical opinion and external judgement into Pricing assumptions / basis setting;
- Excellent command of English - both written and verbal.
- Good communication skills with the ability to negotiate, present and share ideas with colleagues and clients;
- Good understanding of reinsurance knowledge;
- 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.