We are seeking a highly motivated and experienced Senior Actuarial Analyst to join our energetic Pricing team. The successful candidate will play a crucial role in the development, implementation, and monitoring of pricing strategies for our health insurance products. This role requires strong analytical skills, a deep understanding of actuarial principles, and the ability to translate complex data into actionable insights. You will contribute significantly to ensuring the profitability and competitiveness product portfolio.
Key Responsibilities:
- Pricing Analysis & Modelling:
- Develop and maintain sophisticated pricing models for new and existing health insurance products, including retail, group, and innovative offerings.
- Conduct in-depth analysis of claims data, underwriting experience, and market trends to inform pricing assumptions and strategies.
- Perform experience analysis and recommend appropriate adjustments to pricing parameters.
- Utilize actuarial software and statistical tools for data analysis and modelling (e.g, SAS, Databricks R, Python, SQL,
Excel/VBA).
- Product Development Support:
- Collaborate closely with the product development, underwriting, and sales teams to provide actuarial insights and support the design of new and revised products.
- Assess the financial viability and risk profile of new product propositions.
- Assist in the preparation of regulatory filings related to product pricing.
- Performance Monitoring & Reporting:
- Monitor the profitability and performance of various products and segments, identifying areas for improvement or intervention.
- Prepare and present regular reports on pricing adequacy, claims experience, and market competitiveness to senior management.
- Analyze the impact of pricing decisions on business objectives.
- Market Research & Competitor Analysis:
- Stay updated with industry trends, regulatory changes, and competitor pricing strategies.
- Conduct competitor analysis to ensure Niva