At AIA we've started an exciting movement to create a healthier, more sustainable future for everyone.
If that interests you, read on.
About the Role
Ensure AIA can deliver the product pricing required in the Products Marketing and Business Strategy.
Meet the pricing standards required by Group Office and complies with BNM regulatory requirements.
Support the pricing and portfolio management of Corporate Solutions.
Roles and Responsibilities:
Corporate Solutions (CS) Product Pricing and Development
- Complete product development and pricing that are competitive and meeting company's profitability requirement and ensure timely and accurate product implementation by agreed timeline.
- CS case review and perform underwriting audit.
- Developing and updating the pricing model to adapt more statistical tools.
- Review and update all pricing related assumptions for CS.
- Support on reinsurance approval process for CS.
- Ensure products are administered correctly in the system via robust User Acceptance Testing procedures.
- Effectively communicate pricing outcome and key sensitivities during Product Governing Committee and Product Development Committee.
- Support distribution channels on all product-related matters e.g. product roll out, training, sales collaterals.
- Performs other responsibilities and duties periodically assigned by supervisor to meet operational and/or other requirements.
- BNM reporting/filing related to pricing.
Portfolio Management and Monitoring
- Claims and premium monitoring for the portfolio.
- Portfolio studies including inflation, IBNR, mortality and morbidity rates revision, and experience studies.
- Assist and be involved in data analytics tasks in order to support business decisions.
Process Improvement based on LEAN principles
- Proactively and frequently improve the pricing process through automation, proper documentation and reconciliation.
- Identify and implement changes that create value and reduce wastage.
Minimum Job Requirements:
- Minimum Degree holder, preferably in Actuarial Science.
- Strong interpersonal and communications skills
- Strong analytical skills and with business acumen.
