SCOR

Senior Product Development Actuary (6 months contract) (BB-356B0)

Found in: Neuvoo Bulk HK

Description:

Job Summary

Key member of the SGL Hong Kong team with a specific focus on the following aspects:

  • Identifying product opportunities and developing them into concrete product designs with appropriate product propositions, pricing bases and peripheral logisticsAbility to translate pricing best practice into practical solutions that enhance deal profitability;
  • Work closely with the SGL Knowledge Community to lead and drive R&D related initiatives on medex and CI lines of business, focus on the establishment of pricing bases, modelling methodology, and experience monitoring and future enhancements for new product and/or benefit features;
  • Act as a key representative for South Asia Macro Market in the SGL Knowledge Community;
  • Be part of a dynamic and fast growing team to build SCOR's profile and branding within the Hong Kong market.
  • To ensure that SGL Hong Kong meets our strategic target to be:

    An efficient, customer-centric, innovative and highly technical life & health reinsurer to enhance SCOR’s ability to write profitable new business in Hong Kong.

    Key duties and responsibilities

    Product Development

  • Develop new product propositions and determine feasibility from marketing and financial perspectives. Detailed scope includes setting pricing bases, and modelling methodology for new risks, researching product and market trends, understanding emerging reserving and capital regime, and conducting surveys and focus groups, where appropriate.
  • Provide idea inputs to pricing team on quote requests from clients. Work closely with business development team to understand clients’ needs and provide high level financial and implementation analysis on proposed ideas.
  • Strong product development mindset, including (but not limited to) Critical Illness and variations, Medical reimbursement and variations, Simplified Issued/predictive underwritten products, High Net Worth Mortality, Silver age segment products (e.g. LTC, CI annuity, Dementia…), etc
  • Recommend alternative / innovative deal structures to mitigate key risks while meeting SCOR’s internal profitability objectives
  • Actively participate in product workshops for key clients in Hong Kong
  • Be a key member of the product development community in South Asia Macro Market
  • Research and Development

  • Work closely with and be a key representative of the SGL Knowledge Community for South Asia Macro Market, and where necessary, lead or actively participate in Global R&D initiatives;
  • Identify sources of available data via public domain (e.g. population and industry), internal experience, other markets, industry bodies, third party agencies, etc
  • Investigate the feasibility of adopting data analytics to: develop new product propositions and / or unique benefit features; design disease management solutions targeting Medex, CI, and Mortality products; simplify underwriting requirements; manage inforce portfolio
  • Work closely with the Head of Health for South Asia who will lead health related initiatives, including but not limited to, inforce management, R&D, pricing, and marketing;
  • Grow into a subject matter expert on CI business in South Asia in due course;
  • Liaise with research specialists across SGL Knowledge Community to learn product trends, developments on biometric risk basis, emerging driving factors, modelling techniques, in international markets as well as other actuarial insights;
  • Proactively exchange pricing basis, modelling, and / or product concepts with other R&D units in other Macro Markets across Asia Pacific region.
  • Proactively share new R&D insights to markets within South Asia.
  • Other responsibilities

  • Support the team with various internal projects, including but not limited to: market research, development of pricing guideline across different lines of business, experience monitoring and reporting
  • Establish connections with external Insured Techs and keep abreast of latest development in market
  • Develop internal connection and exchange product development ideas across other SGL markets
  • Assist in the preparation of marketing materials and participate in client visits and / or other marketing initiatives on a needed basis
  • Provide pricing support on an as needed basis
  • Ensure adherence to SCOR’s internal controls, guidelines, and best practice standards at all times
  • Required experience & competencies

    Experience:

  • 7 or above years of Product and/or Pricing working experience in life & health insurance, reinsurance or consulting fields in Hong Kong
  • Familiar with Hong Kong life insurance industry and products (unique protection product pricing knowledge will be a plus)
  • In-depth knowledge with Medical and Critical Illness business is preferred
  • Familiar with WINDOWS 10 and other actuarial software such as Prophet or/and AXIS
  • Ability to work in a team environment embedded in a global network
  • Personal Competences:

  • Problem solver – can deliver the right level of solutions to a problem appropriate to time and resource constraints; demonstrating a “can-do” attitude
  • Adaptable – ability to deal with changing priorities; passionate to taking on new challenges
  • Excellent communication and interpersonal skills
  • Excellent data analytical skills
  • Hard working, self-motivated and take ownership
  • Able to work under pressure and excellent time management
  • *Immediate available candidates will be prioritized

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