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Director - Head of L&H Product Actuarial

Job Level:  Management

Bangkok, TH, 10330

Due Date:  29 Jun 2022
Area of Expertise:  Actuarial
Unit:  Allianz Thailand
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  8703

Your Day at Allianz Ayudhya


This position defines the strategy, policy, guideline and procedures of actuarial pricing management. This position provides leadership and stands for technical excellence in all actuarial decisions. The scope of work responsibilities covers Agency, Bancassurance, Group EB and Database Marketing (assigned) channels. In addition, this position will lead and manage a team to ensure accuracy and timeliness in developing actuarial models, performing technical pricing to ensure profitable growth, competitiveness and alignment with regulations and Allianz Group standards, performing experience analyses of key pricing assumptions and providing actuarial analyses / pricing / product development support to other departments.

This actuarial function must possess the qualification, experience and knowledge required either to coordinate and validate the calculation of the Company’s technical provisions in the Solvency II market value balance sheet, give recommendations and opinions on the management of the Company’s insurance/underwriting risks or on the Company’s solvency position. Detailed requirements are outlined in the Company’s Actuarial Policy.

"1) Strategic Actuarial Pricing Management

­ - Define the strategy and policy of Actuarial Pricing Management for new products and existing products for the assigned channels

­ - Develop and encourage standard best practice and actuarial guidelines

­ - Provide leadership and stands for technical excellence in all actuarial decisions                                                                                                                                                                                               

"2) Product Development

- Lead and manage team to develop actuarial models to calculate premium rates, and other policy values of the product

- Lead and manage team to support product design for assigned channels and review product features with consideration to risks, profitability and regulations

- Lead and manage team to develop actuarial models to perform profit testing of products

- Provide risk assessment of the product and provide advice on risk mitigation

- Lead and manage team to review policy contract provision to ensure alignment with product design

- Ensure the alignment of products with group standards and local regulations

- Lead and manage team to prepare product-related documents to support filing of the product to regional office and regulator for approval

- Provide answers / discuss with regional office's staff and regulator in relation to product filing

- Actively participate in the Product Development Implementation Team to discuss and provide comments on product development issues

- Lead and manage team to ensure accuracy of pricing-related information in product specifications, prepare information for setting up new products and modifications of existing products, perform User Acceptance Test (UAT)

- Lead and manage team to provide support on product proposals to business partners e.g. sales compensation determination to ensure competitiveness and profitability measures are met

- Work with and support other functions to define and assess business opportunities e.g. government's initiatives, market movements

- Lead and manage team to review pricing related information presented in sales and marketing materials

- Manage team to ensure relevant product development tasks are delivered on time and results are high quality                                                                                                                                                "3) Experience Analysis

-­ Lead and manage team to perform analyses of key statistics for pricing purpose e.g. claims, mortality and persistency                                                                                                                                                                                                                                                                                                                  

"4) Support Other Functions

­- Lead and manage team to provide accurate and timely support to other functions e.g. day to day operation issues, complaints handling, communicate technical information to internal and external customers in non-technical terms                                                                                                                                                                                                                                                                                                                               

Must Have

  • Bachelor’s or Master’s Degree in Actuarial Sciences, Statistics, Mathematics, Finance or related filed
  • At least 12 years of experience in Actuarial Pricing and/ or Product Development in insurance or banking business             


Nice to Have

  • Understanding of current and emerging trends and risks in life & health insurance industry
  • Experience in recognition of market trends, benefits, and implementation of business opportunities