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Pricing Actuary - Life Reinsurance

Job Level:  Professional
Location: 

AE

Available until:  06/12/2022
Area of Expertise:  Actuarial
Unit:  Allianz Partners
Employing Entity:  NEXTCARE Claims Management LLC
Job Type:  Full-Time
Remote Job:  Hybrid working
Employment Type:  Permanent
ID:  18365

We are Allianz Partners. The leader in assistance and insurance solutions in the areas of international health, assistance, automotive and travel insurance. Allianz Partners is a global family of over 19,000 employees across 78 countries. This role is in the International Health part of the business, which has a number of well-known customer facing brands such as Allianz Care, Nextcare and Medi24.

The International Health line of business provides international health, life and disability insurance and services, reinsurance and administration services to a wide range of customers. These include multinational companies, intergovernmental organisations (IGOs), non-governmental organisations (NGOs), private individuals, families and students. Our mission is to ensure that customers have access to quality healthcare through our support, care and commitment to go the extra mile. We are a truly global health partner for our customers, ensuring fast and simple access to the best advice, treatment and value for our customer.

Summary:

 

The Pricing Actuary will utilize internal and external resources to develop product pricing for new and current insurance products. The Pricing Actuary will work on different areas of actuarial, underwriting and pricing practices related to the Underwriting Department using actuarially and statistically accepted methods. They are expected to perform part of the tasks themselves, and to supervise / peer-review sub-ordinates’ work. In addition, the person holding this position is required to assist the manager(s) and other senior personnel in the non-technical divisions.

 

Main Tasks:

 

 

Underwriting and pricing new and renewing reinsurance treaties, and support negotiations
Conducting profitability analysis on (the whole or part of) the portfolio
Conducting pricing review analyses, product benchmarking on existing products / segments
Underwriting and pricing of GLPA policies / GCL policies and special arrangements (Treaties and Fac)
Combining large amounts of data and analysis into meaningful conclusions with root cause analysis and action plans
Developing, testing and maintaining the pricing tools used by internal and external underwriters
Developing other tools / models on request
Projecting technical reserves
Preparing internal and external presentations, dashboards, and reports
Producing reinsurance statements from the data collected
Delegating tasks / projects to subordinates, assisting / coaching them and peer-reviewing their work
Maintaining proper documentation of all work performed and prepare manuals / technical sheets (products developed, tools created..)
Assisting in the department’s administrative and organizational tasks, coordination with internal and external stakeholders, and reporting to upper management (e.g. follow up with clients for Monthly reports, liaise with BD unit for issuance of cover slips, coordinate with TPA for claims and production reports..)
Gathering adequate and reliable market intelligence to assist in the business growth strategy

Minimum Requirements: 

 

 

Bachelor’s degree; Certification in Actuarial Science background preferred
5+ years of relevant experience, 2 years of which at least in the Life line of business
Good knowledge of reinsurance principles is a plus
Physically fit to carry out duties
Legally permitted to work in the country of operations
Fluency in English. Arabic is a plus
Fluency in MS Office (Excel, Word, Outlook, PowerPoint)
Experience in analytical and statistical software.
Experience in VBA and Alteryx is a plus
High analytical skills and numerical ability
Ability to analyze and interpret complex data