Senior Life Innovation Actuary (L&H, Asia/Middle East/Africa)

Senior Life Innovation Actuary, Life & Health, Asia, Middle East and Africa

Company: Munich Re

Location: Hong Kong, Greater China

We are seeking a Senior Life Innovation Actuary to support proposition innovation activities across Munich Re’s Life and Health businesses in Asia, the Middle East, and Africa. The position is based in Hong Kong and reports to the Chief Propositions Officer, Asia, Middle East, and Africa.

The Proposition Innovation team develops new and innovative life and health propositions across all lines of individual business, distribution channels, and markets mentioned, with support from local proposition innovation experts in Asia, the Middle East, and Africa.

This unique role combines proposition innovation and key account management and provides an opportunity to gain exposure to a wide range of products in diverse markets. The successful candidate will also lead the day-to-day client management activities for at least one large multinational client at the regional level. It would suit self-motivated individuals with a passion for innovation and an ability to develop new and innovative solutions based on observed customer needs and established insurance risk principles. You will be expected to make a significant contribution to the enhancement of propositions to support Munich Re’s growth ambitions across the markets concerned.

YOUR ROLE

Proposition innovation:

• Conduct research into key product trends across all Asia markets, identify gaps in product offers, and design new solutions to address these gaps with the support of local product innovation experts.
• Lead the development and implementation of new life and health propositions to address observed customer needs across all markets and in line with the strategic proposition innovation roadmap.
• Drive the process for obtaining internal product approvals for newly developed propositions, including developing Minimally Viable Products, risk management assessments, internal stakeholder management, and project management.
• Market newly developed propositions to potential clients and customize propositions based on specific market needs, regulations, and existing practice.
• Drive the co-creation projects for new propositions with local product experts, based on clients’ requirements and intended market positioning, focusing on all elements of the proposition innovation lifecycle.
• Develop and maintain client relationships with key individuals responsible for proposition innovation across the markets covered.
• Maintain an in-depth knowledge of the life and health insurance landscape across all markets covered, with a specific focus on critical illness product trends.
• Support local business units in reinsurance tenders and other key external initiatives from a product perspective, as required. Lead or support internal and/or client-specific projects on proposition innovation for all markets within scope.

Key Account Management:

• Assume responsibility for driving growth in our client relationships with at least one large multinational client in the capacity as Key Account Manager at a regional level, in line with our multinational client management strategy.
• Develop and maintain relationships with key decision-makers, identify opportunities for growth, and coordinate internal efforts to successfully execute on these opportunities.
• Actively market Munich Re’s key propositions (including software and services) to clients across the markets in scope.

YOUR PROFILE

• Qualified Actuary with a total of 10 to 15 years of product innovation and/or product management experience across Asian markets and strong technical competence in actuarial disciplines.
• Deep knowledge and experience of critical illness life insurance products and distribution channels across Asia.
• Strong analytical, risk management, and problem-solving skills, combined with sound judgment, commercial awareness, and a desire to find unique and creative solutions for innovative concepts.
• A proven track record of developing and implementing new propositions aimed at meeting observed customer needs, as well as managing and maintaining existing propositions.
• Strong English written and verbal communication skills and exceptional presentation skills.
• An ability to self-manage work and drive new projects where no established processes exist.
• Strong collaboration and stakeholder management skills, with demonstrable experience working with a range of technical experts across multiple functional and geographical areas.
• Demonstrable project management experience in a proposition innovation capacity.
• An ability to build and maintain effective professional relationships with all stakeholders based on trust in a constructive and collaborative manner.
• The competence and mindset to add value in areas outside of your immediate area of expertise to support Munich Re’s growth ambitions.
• A preference is given to candidates with experience in both direct insurance and reinsurance, candidates with prior experience in technical marketing, and candidates who are fluent in another language spoken across the markets under consideration.

Munich Re takes on risks worldwide of every type and complexity, and our experience, financial strength, efficiency, and first-class service make us the first choice for all matters relating to risk. Our client relationships are built on trust and cooperation. If you would be interested in helping shape the future as part of one of our teams, we look forward to hearing from you.

At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives, and thought. This interaction is our foundation; our open culture and spirit of partnership; how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us.