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Senior Associate / Assistant Manager, Actuarial and Underwriting

AIA Hong Kong and Macau

Wan Chai

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  • 16-Apr-18

    jobsDB ref: JHK100003006066977

    Employer Ref. 26656

    Position Objectives:

    Perform financial underwriting and provide actuarial support to Corporate Solutions business with the objective of achieving business ANP, VONB and OPAT targets.

    Responsibilities:

    1. Actuarial solutions (15%)
      • Provide portfolio analysis on profitability and pricing retention for management.
      • Perform experience studies to support pricing assumptions, VONB assumptions, manual rate review, costing in special terms.
      • Perform in-depth claim analysis for jumbo cases for more accurate pricing and recommend alternative solutions.

    2. Financial underwriting (70%)
      • Underwrites group Life, Medical, PA and Credit life cases by analyzing benefits, claim experience, terms & conditions and reinsurance arrangement to ensure sufficient margin has been catered for projected claims, medical trend, variables, expenses and profit margin while maintaining competitiveness of product.
      • Reviews benefit scope, terms and conditions of group cases with reference to internal and external rules and guidelines to ensure risk underwriting compliance as well as legal compliance.
      • Recommends benefit changes and cost-containment proposals for corporate clients by analyzing benefit coverage, scheme terms & conditions, claims pattern, medical trends, portfolio data, industry data as well as employee benefit design trends.
      • Works with Sales team to identify employee benefit gaps and develop benefit solutions for corporate clients.  Provides explanation of rationale by preparation of tailor-made claim analysis reports in order to support Sales team’s communication and presentation to corporate clients
      • Works with Operations, IT and Network team to develop customer-centric benefit solutions which are operational viable.
      • Gathers claim data, prepares benefit analysis and works out group cases premium projections and terms recommendations for cases exceeding local authority for higher authority review and approval.

        2.  Projects & Reports (5%)

    • Participates in projects relating to actuarial solutions, service enhancement or business initiatives
    • Prepares regular and ad hoc underwriting reports as required.

      3.  Reinsurance arrangement (5%)

    • Contacts with reinsurers for facultative reinsurance arrangement to support special quotes with non-standard benefits and terms.
    • Recommends enhancement of benefits and terms for corporate clients and works with reinsurer on benefit enhancements.
    • Preparation of reinsurance documents such as Reinsurance Contract, Pricing Form and Wording form.
    • Maintenance of reinsurance contracts, endorsements & cover notes.

      4.   Other responsibilities (5%)

    • Performs other responsibilities and duties periodically assigned by supervisor in order to meet business requirements.

      Requirements:-

    • University / College graduate plus over 3 year related working experience.
    • Communication & interpersonal skills.
    • Commitment in team work.

    We offer an attractive remuneration package to the successful candidate.   Please submit your application by clicking “Apply Now” for our processing.

     

  • Apply now
  • Career Level

    Entry Level

    Yr(s) of Exp

    3 years experience

    Qualification

    Degree

    Company Industry

    Insurance / Pension Funding

    Job Function

    Insurance > Actuarial
    Insurance > Underwriter

    Salary negotiable

    Salary negotiable

    Employment Type

    Full Time

    About AIA Hong Kong and Macau

    AIA International Limited

    About AIA Hong Kong and AIA Macau

    AIA Hong Kong and AIA Macau are subsidiaries of AIA Group Limited. AIA Group Limited established its operations in Hong Kong in 1931. We have more than 11,000 financial planners*, as well as an extensive network of brokerage and bancassurance partners who serve more than 1.8 million customers*. Our products range from individual life, group life, accident, medical and health, personal lines insurance to investment-linked products with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high net worth customers.
    * As of February 2016

    Website

    www.aia.com.hk

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