Singlife is a leading homegrown financial services company offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.
In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.
Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.
First announced in September 2020 and valued at S$3.2 billion, the merger of Aviva Singapore and Singlife was the largest insurance deal in Singapore then and created one of the largest homegrown financial services companies in the republic.
Key Appointments
Assist Group Business with pricing and risk management for employee benefits and healthcare products, ensuring that Singlife is competitive while still keeping profitable and risks are within guidelines.
•Responsible for Pricing and Experience Analysis for Group Business of Singlife Singapore.
•Negotiate with reinsurers to get product support as required
•Assist with analysis and provide inputs for Group Business product and pricing strategy
Key Responsibilities
•Responsible for pricing of existing/new group products to ensure profitability targets are met with adequate consideration to the inherent risks in the portfolio.
•Work closely with Group Sales on benefit design, providing actuarial advise on whether the benefit design is feasible or not
•Responsible for ensuring timely approval of pricing and premium rates for Group Business tenders, while ensuring the appropriate approvals are sought
•Carrying out regular experience analysis (including MI reports) for group business to ensure management has sufficient in-sights into the business
•Review and negotiation of reinsurance terms as necessary
•Development and maintenance of pricing tools to enable Group Sales to quote for standard benefits
•Active participation in discussions with different business units on product related issues:
- With Group Sales to discuss product benefits/quotation strategy.
- With Management reporting on business plan numbers.
- With Claims and Operations on claims processes.
- With Provider Management to help manage panel claim costs as well as network provider fees.
- With Finance/Customer Service/IT etc.
- With Reinsurer where product and pricing support is required.
•Providing support for ad-hoc data/statistics request from Senior Management, LIA or MOH.
Requirements
Experience
•Minimum 3 years of experience in Employee Benefits and Healthcare/short term insurance pricing or similar
•Proficient in MS Word, Excel, Powerpoint, Access
•Ability in statistical/data analytics tools such as R, Alteryx, Qlik, @Risk, Prophet would be an advantage
•Good communication skills and ability to work independently
Education
•Degree in Actuarial Studies
•Progress in actuarial exams with a recognised actuarial body (eg SOA, IFOA, IOAA)
