Prudential Indonesia (PT Prudential Life Assurance)
Actuarial Pricing Manager
At Prudential Indonesia we deliver excellence by consistently innovating, creating new opportunities and growing our business to cater all of our customers’ needs.
With a vision of becoming truly world class, Prudential Indonesia provides quality services and proven track record of market leadership in the country.
Working at Prudential Indonesia gives you many opportunities to develop yourself and explore what you’re really capable of, as well as the perfect environment to collaborate, listen and care for others.
Prudential’s purpose is to help people get the most out of life. We will deliver our purpose by creating a culture in which diversity is celebrated and inclusion assured, for our colleagues, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and in exchange, we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow and Succeed.
- Perform initial profitability and risk assessment for any product ideas
- Ensure that the pricing supports key financial KPIs: NBP margin, OFSG, persistency, expense and claims variances
- Derivation of the pricing assumptions used along with the justifications
- Manage, provide guidance and assistance in preparation of spreadsheet and prophet model for pricing and profit testing purpose
- Ensure that all the internal process and regulations are followed in product pricing including completion of all required documentation
- Manage, provide guidance and assistance to complete the product submission document or addendum with comprehensive financial result
- Responsible for engagement with OJK on pricing and reinsurance related issues
- Work closely with related departments for preparing quotation, product specification, product system, marketing materials, etc.
- UAT for new or enhancement products
- Assist in system maintenance (Life Asia)
- Review and sign-off for final product specifications
- Answering queries related to technical issues on products
- Communication of requirements to reinsurers and rate negotiation
- Prepare reinsurance selection document that including comparison of rates, benefit and conditions among some reinsurers
- Assist in coordinating signing of reinsurance treaties or addendum
- Regular reporting for reinsurance exposure
- Yearly review of retention limits
- Ensure development of the pricing team, in line with the career interest and opportunity
- Bachelor’s degree from Mathematics, Statistics, or Actuarial Science major
- 4-6 years experience in actuarial/pricing area in life insurance
- Broad business sense and understanding
- Strong analytical skills to understand financial statements and reports
- Has actuarial modelling skills on spreadsheet or prophet
- Has actuarial qualifications (ASAI or FSAI) or from other International Actuarial Bodies
- Sufficient knowledge about insurance product and OJK regulations & requirements
- Good leadership and people management capability
Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with special requirements.