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Actuarial Manager (Virtual Insurance)

OneDegree is an InsurTech company, with a virtual insurer license granted by the Hong Kong Insurance Authority in 2020. Since then, we have grown quickly into the leading Hong Kong virtual insurer with an ambition to bring consumers a seamless and instant insurance and claim experience through technology.

We currently offer multi-line digital insurance products, including pet, medical, fire and home insurance for individuals, and cyber security and digital asset insurance for enterprise businesses.

Want to join us and make a change? We are looking for an Actuarial Manager in building great General Insurance (for personal lines) and Health Insurance products that protect our customers and their loved ones! If you love building winning products, come and join our team!

What you will be doing:

This role will have the dual responsibility of supporting the Actuarial function (reporting to a Senior Actuary) in two areas:

Product Development, Pricing and Analytics:

  • Develop and/or modify existing pricing methods, assumption development, or profitability measurements as required to keep methodologies relevant in light of changes in regulations, market conditions, capital or accounting standards
  • Develop product proposition and create unique product features to capture market opportunities.
  • Perform regular claims experience analyses by calculating exposures, incidence rates and loss ratios as well as evaluating the reliability of source information of the in-force businesses.
  • Provide pricing support for new distribution deals, new partnership opportunities, or other business development activities.

Valuation and Capital Management:

  • Manage reserve and valuation models and assumptions for the General Insurance (P&C) businesses including but not limited to premiums, claims, expenses.. These modelling projections are then applied to compute loss ratios and profit margins under different scenarios, allowing management to evaluate the businesses’ financial status and performance.
  • Preparing actuarial-related IFRS 17 deliverables, such as model review, Financial Impact Assessment (FIA), and stress testing of the impact of chosen assumptions and policy choices.
  • Present management reporting around new and existing products and recommend corrective actions or opportunities.
  • Develop monthly IBNR and claim reserves.
  • Advise on Own Risk and Solvency Assessment for required capital and simulate scenario stress testing.
  • Coordinate with reinsurers and third-party administrators to design and define the appropriate risk appetite and the optimum level of retention with the objective of reducing volatility.
  • Review annual renewal of reinsurance treaties and make recommendations on reinsurance strategy.

What we are looking for:

  • Start-up spirit, eager to grow and bring change to insurance industry.
  • Strong business acumen with good communication and analytical skills.
  • Intelligent, motivated self-starter with strong interpersonal skills and work ethic.
  • University degree with a major in Actuarial Science or Statistics or Mathematics
  • Qualified or part qualified from Internationally recognized Actuarial Institutions such as UK, US and Australia
  • Experience in areas such as data analysis, modelling, pricing and report-writing
  • Proven record in applying actuarial judgement in pricing work and leading discussions with business teams
  • Strong communication skills, both writing and verbal, particularly in relation to business considerations and use of non-technical jargon
  • Possess strong problem solving skills, ability to use judgement in determining solutions for wide ranges of problems, taking into consideration holistic operations of General Insurance company
  • Possess knowledge of the product landscape and reinsurance structures
  • Exposure to structured reinsurance concepts preferred
  • Good business understanding of the product development process and management of product portfolios.
  • Good command of written and spoken English and Chinese
  • Able to work independently as well as contribute effectively as a team player
  • Candidate with 5-8 years of experience is preferable; strong candidate with less experience is also welcome.

More about us:

  • Fast-growing digital insurer working on innovative products
  • Young and energetic team
  • Flat organization structure
  • Opportunities to grow and shine!

To us, people are our greatest asset and we are more than happy to invest in employees! We create a healthy work atmosphere and provide you with the tools and support to do your job successfully. We are WAVE makers – WAVE stands for Warrior, Adventurous, Visionary and Efficiency. We would like to be an ‘EMPLOYER OF CHOICE’!

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