About FWD Group
FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.
For more information, please visit www.fwd.com
In Singapore, FWD aims to change the way people feel about insurance by leveraging technology to deliver products and services that are relevant, easy to understand and always convenient for our customers. To this end, we have a direct-to-consumer (DTC) platform that allows customers to buy their preferred life and general insurance products directly from our website; as well as a network of preferred Financial Advisory (FA) firms for customers who want to speak with an advisor before committing to an insurance plan. Whatever their preference, we believe insurance should be simple, reliable and convenient.
If you are looking for a career where you can create a real impact and celebrate living, we invite you to join us on our exciting journey.
PURPOSE
Support the Head of Pricing in the pricing of life insurance products.
KEY ACCOUNTAIBILITIES
- Develop actuarial pricing model for new or repriced products.
- Perform pricing financial assessment and sensitivity testing to support the Team in launching competitive products whilst ensuring compliance to internal policies, regulatory requirements and industry guidelines.
- Identify pricing risks and support Team Lead in developing solutions for alignment at the PMC.
- Collaborate with wider business (including product development, IT, risk & compliance, etc) to ensure timely end-to-end product development and implementation with good audit trail.
- Prepare internal (FWD local entities and FWD Group) and external product filing.
- Work closely with Appointed Actuary in proposing assumptions for new products and justifications.
- Pro-actively drive initiatives/projects to enhance overall pricing process efficiency and governance/controls.
- Support discussion and negotiation on reinsurance, together with Product team
- Assist in special quotations.
- Guide/lead junior pricing actuaries to ensure quality and timely deliverable.
QUALIFICATIONS / EXPERIENCE
- Qualified actuary from a recognized professional actuarial body is preferred.
- Min 6 - 8 years of actuarial experience, with individual life product pricing experience.
KNOWLEDGE, SKILLS & ABILITY
- Strong knowledge on (i) Singapore RBC2 or similar regulatory framework, (ii) embedded value and (iii) IFRS17 would be an advantage.
- Good knowledge of Life insurance products in the Singapore market would be an advantage.
- Proficient in Prophet.
