Sagicor Life Jamaica Limited is seeking to identify a suitable candidate to join our Insurance Pricing & Product Management team in the capacity of Pricing & Product Analyst
The selected candidate will assist the AVP by performing or supervising the execution of assigned projects and computations in respect of new and existing individual life and employee benefits products. Including profitability testing, product set up and product performance analysis.
Key Duties and Responsibilities:
- Assist with product reviews and analysis of IL and EBD insurance and annuity portfolios; Ongoing review/monitoring of IL and EBD suite of products to ensure marketability/suitability of the line’s product offerings
- Assist with pricing and product design functions for IL and EBD products including Cayman and Costa Rica; Help to assess feasibility of new product ideas.
- Assist with building pricing models to price and reprice insurance products for these lines as assigned
- Provide rates for OTC annuity quotes; Provide rates and additional support for large/bulk annuity tenders
- Build and maintain pricing models for annuity line (IL, Cayman and EBD) Reprice a minimum of once a year, but at least as frequently as required based on market conditions.
- Perform product set up and coordinate testing on Individual Life admin system and agent proposal system; Plan code set up on life admin system (model office)
- Prepare projection sheets to submit to SSIT for set up on agent proposal system (model office)
- Assist with carrying out Profitability Studies; Complete annual profitability reports for IL and EBD; Complete quarterly experience reports for GH and GL products)
- Assist with carrying out technical Product Knowledge training for agents and relevant admin staff; Particularly for new products assist with the preparation of training documents
- Customer and Agent Product queries for IL and EBD; Carry out relevant investigations and provide responses to agents and customer service reps for all product related concerns
- Claims experience analysis; Prepare annual reports for living and death benefit claims for ILD & EBD; EBD & ILD budget forecasts; P&L implications of New Business API and expected product revenues
- Assist with other Sagicor Territories Insurance Pricing as needed
- Perform other related duties assigned from time to time
Academic Qualifications/Specialized Skills/Competencies:
- Bachelor’s degree in Actuarial Science, Mathematics or Computer Science or any other equivalent qualifications from a recognized tertiary institution
- Actuarial Examinations in at least 2 subjects
- 2 to 3 years work experience in life insurance industry
- Excellent mathematical, research, analytical and problem-solving skills.
- Strong knowledge of computer software packages, particularly spreadsheet software (Excel) and word processing software
- Ability to communicate effectively both orally and in writing
- Strong organizational and time management skills
- Good human relations/interpersonal skills
- Knowledge of the general and technical operations, practices and principles of a life insurance company and its related business lines.
- Detail oriented
If this role is of interest to you kindly submit an application via this career portal no later than August 31, 2020. While we appreciate all applications only shortlisted applicants will be contacted.