The Pricing Analyst builds and maintains pricing models for insurance products, and supports the company’s marketing team with product pricing and the quotation process. The role also involves participating and supporting actuarial pricing projects including developing and implementing new pricing methodologies, assumptions, and models for IFRS 17 and risk based capital (RBC) requirements.
What should be included in a Pricing Analyst job description?
If you are hiring a Pricing Analyst,, the job description can feature:Analysing data to provide meaningful explanations of results, identifying trends and providing recommendations relevant to the businessPreparing actuarial reports and summarising results in a format appropriate for all stakeholdersCoordinating with other actuarial and technical teams including investment and underwriting personnel, regarding assumptions, methodologies and resultsManaging experience studies, and assisting in deriving pricing assumptions for both direct pricing and reinsurance inward businessAssisting in planning and managing team workflows in line with prioritiesSupporting business units in handling reinsurance arrangements and queries including reinsurance inward and outward businessParticipating in a wide range of pricing functions on a rotation basis such as product pricing, sales campaigns and initiatives, experience studies, new business planning, special quotations, regular reporting and risk monitoringLiaising with other global entities and external partners in product development and reinsurance inward projects
What skills and qualifications should a Pricing Analyst have?
A formal degree is typically required for a Pricing Analyst, often with tertiary qualifications in:Actuarial scienceStatisticsMathematicsProfessional certification with an internationally recognised actuarial body may also be desirable for a Pricing Analyst.There are several qualities that candidates for a Pricing Analyst role should be expected to display:Self-motivatedDetail-mindedStrong analytical skillsWillingness to learnHighest levels of integrity and trustFluency in Mandarin, Cantonese and English is an advantage
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