Analyst, Individual Life Pricing

Singapore, Singapore, Singapore

Department: Pricing - Individual Life

Job posted on: Nov 12, 2024

Employment type: Permanent - Full Time

Singlife is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.

In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.

Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.

The merger of Aviva Singapore and Singlife was announced in September 2020 and created one of the largest homegrown financial services companies in Singapore in a deal valued at S$3.2 billion. It was the largest insurance deal in Singapore at the time. Singlife was subsequently acquired by Sumitomo Life in March 2024, one of Japan’s leading life insurers, which valued Singlife at S$4.6 billion, making the transaction one of the largest insurance deals in Southeast Asia.

Key Responsibilities

• Assist pricing of new products and repricing of existing products to ensure profitability targets are met with adequate consideration to the inherent risks in the portfolio.
• Collaborate with Product team, IT, Operations, Claims, Investment, Finance, Risk Management, and other relevant stakeholders to address any product-related issues and close the gaps so that product initiatives can be launched timely.
• Assist in preparation of discussion materials for the Product Committee meetings and filling of the premium certificates for products to MAS.
• Carry out regular experience analysis (including MI reports) for the individual business to ensure management has sufficient insights into the business.
• Produce projections of loss ratios and operating profits for the Retail Health portfolio.
• Support PSQ, UAT/Sign-off system issues/product collaterals and address operational issues from pricing’s standpoint.
• Provide support for ad-hoc data/statistics requests from LIA, MAS, MOH, CPF or other regulatory bodies.

Requirements

• 1-3 years of experience in related fields. Experience in pricing, valuation, and system implementation.
• Knowledge and basic understanding of reinsurance arrangements are preferred.
• Interested in driving changes with a solution-seeking mindset.
• Prioritization, project, and timeline management skills.
• Excellent communication and interpersonal skills.
• Good skills in MS Excel, SQL, Access.

Education

• University degree, preferably majored in Actuarial, Finance/Accounting with progress made towards an actuarial qualification.