DUTIES AND RESPONSIBILITIES:
- Develop and maintain pricing models for various insurance products using statistical and actuarial data.
- Analyze historical claims data, market trends, and competitor pricing to recommend appropriate rates.
- Collaborate with actuaries to validate pricing assumptions and ensure accuracy.
- Support the underwriting team by providing pricing guidance and risk assessment insights.
- Conduct financial and profitability analysis for new and existing insurance products.
- Prepare reports and presentations to communicate pricing recommendations to management and stakeholders.
- Monitor regulatory changes affecting pricing and ensure compliance with applicable laws.
- Identify opportunities to optimize pricing strategies and improve product competitiveness.
- Mentor junior pricing staff and contribute to continuous process improvement.
REQUIREMENTS:
- Bachelor's degree in actuarial science, mathematics, and statistics.
- Extensive experience in insurance pricing, an advantage.
- Strong analytical skills with proficiency in statistical software and data analysis tools
- In-depth understanding of insurance products, risk factors, and market dynamics.
- Excellent communication skills, with ability to explain complex pricing concepts clearly.
- Detail-oriented, with strong problem-solving and decision-making abilities.
- Familiarity with regulatory requirements related to insurance pricing.
