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AIG is hiring a

Pricing Actuary (A&H)

Job Purpose

  • Carry out pricing calculation for PA, Travel and Medical products
  • Conduct various actuarial analysis (including programming in SAS and VBA)
  • Prepare actuarial documents and negotiate with JFSA for new products

Job Responsibilities

  • Conduct actuarial analysis such as rate review, profitability and loss ratio analysis, and share the results with stakeholders.
  • Participate actively in product development and collaborate with the approval application team to create actuarial documents related to insurance mathematics (such as insurance premium calculation methods) and negotiate with the Financial Services Agency.
  • Identify risk factors for each insurance product through monitoring activities and strive to control loss ratios.
  • Collaborate with relevant departments to achieve revenue and growth targets, and actively propose pricing strategies and underwriting strategies as an actuary.
  • Regularly exchange opinions with finance actuaries to confirm any changes in accounting treatment, including IBNR estimation methods.
  • Stay updated on recent actuarial methods, insurance laws, and regulatory trends, and ensure compliance with regulations in each insurance product. If necessary, monitor the pricing trends of other companies on a regular basis.
  • Work closely with related departments in new product development, insurance premium calculation, rate review, and pricing tool/model development.

Key Relationships

Internal Interactions (Within the Organization)

  • A&H Product division, regional A&H portfolio actuary
  • Product actuaries at other LoB
  • Finance division (reserving actuarial team, appointed actuary, FP&A)
  • Claim operation, IT, Risk, Reinsurance, ERM team

External Interactions (Outside the Organization)

  • Institute of Actuaries of Japan (IAJ)
  • Financial Services Agency (JFSA)
  • Industry associations

Required Skills and Experiences

Educational Qualification

  • Bachelor or Master Degree

Specific Qualifications

  • Passed several subjects of IAJ exam
  • PC skill (including programming)
  • Database manipulation and statistical analysis skill
  • Communication and Presentation skill (desirable)
  • Cooperativeness for teamwork
  • Language skill: Japanese (native), English (business; desirable)

Total Experience

  • 5+ years of experience in insurance actuarial field
  • 8+ years of experience in insurance field
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