Actuarial Manager

About FWD Group

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

For more information, please visit www.fwd.com

About FWD Life Philippines 

FWD Life Insurance Corporation (FWD Life Philippines) launched its commercial operations in September 2014. As of end-2022, FWD Life Philippines ranks 3rd and 6th in terms of Paid-up Capital(1) and New Business Annual Premium Equivalent(2), respectively.

For more information, please visit fwd.com.ph. 

1 www.insurance.gov.ph > Statistics > Life > 2022 > Based on Paid-Up Capital

2 www.insurance.gov.ph > Statistics > Life > 2022 > Based on New Business Annual Premium Equivalent

The Actuarial Manager for Pricing performs pricing and prototyping of products assigned to him/her, and helps see them through to approvals, implementation and readiness to launch by collaborating with the cross-functional product development team. The role is also expected to conduct experience studies and to provide actuarial-related support to various strategic projects of the company. The role will also review channel initiatives, campaigns, customer requests, user acceptance testing, and other ad hoc projects. On top of these, he may be assigned to mentor and peer review the work of junior members of the team.

Key Responsibilities:

• Justify and recommend appropriate pricing assumptions based on experience reviews, market comparison, industry benchmarks, demographic studies, and other available research information.
• Build / modify robust and automated pricing models in excel/Prophet consistent with pricing standards.
• Perform experience studies based on available company/ industry data, adjusting for product/company-specific considerations and trends.
• Working knowledge on relevant local regulations on product filing, pricing, products, forms, illustrations and distribution channels.
• Actively participate and provide UAT support for cross-functional product initiatives.
• Provide actuarial support to distribution requests such as compensation review, incentives assessment, and partnership quotations.
• Prepare relevant actuarial sections of the Product Approval Report, including the necessary documentation of assumptions, profit testing and sensitivity analysis, and be able to address elementary questions from Group Office on product gates.
• Other adhoc and special projects that may be assigned from time-to-time.

Experience:

• Graduate of Mathematics, Statistics, Actuarial Science, or similar courses
• At least associate of the Actuarial Society of the Philippines
• At least 3-4 years actuarial experience, preferably in pricing
• Has worked in a multinational insurance company

Privacy Notice

Your privacy is a priority for FWD.  The Company keeps your personal information with us in confidence. To know more about how we process your information, kindly refer to our FWD Recruitment Privacy Notice.

FWD has partnered with Talocity Instasolutions Private Limited (“Talocity”) to manage the initial filtering of candidate’s profiles through video interviews, social profile mapping, and video analytics using artificial intelligence engine that is offered within the Talocity platform.  The platform evaluates the candidate on the five well-known dimensions as per OCEAN Personality Model that influence occupational success and help understand workplace behavior. For more information, please refer to Talocity Privacy Policy.

When you apply, FWD will share your name, phone number and email address to Talocity to contact you and conduct the initial screening and profiling process.  Shortlisted candidates will then be contacted by FWD for the face-to-face interview.