Position: Head of Life Reinsurance and Group Underwriting, South East Asia (including Egypt)
Location: Singapore
Company Overview: We are a leading international Life insurance organization, committed to delivering top-notch financial solutions in the life insurance sector. Our company operates on a global scale, serving clients from diverse regions and backgrounds. We are seeking a talented and versatile professional to join our team to lead the Reinsurance and Group Underwriting functions for Thailand, Indonesia, Vietnam, New Zealand, Egypt and Myanmar.
This role requires an actuary who can engage in negotiations with Regional Reinsurers and being recognized as a Regional Expert in Group Underwriting (able to engage and lead with peers both in Life and A&H/ divisions, understanding short- and long-term views). Additionally, the candidate should be able to lead the Group Underwriters and Product Actuaries (for reinsurance matters) while possessing exceptional communication skills to effectively engage with marketing, partnerships, claims, operations and finance personnel. The successful candidate should have expertise in reinsurance, marketing, Group life and medical underwriting, Reinsurance P&L management, Reinsurance aspects of product development, and underwriting for alternative distribution.
Role and Responsibilities:
1. Reinsurance Strategy and Execution:
- Develop and execute comprehensive reinsurance strategies to promote and sell life insurance products in SEA.
- Support targeted marketing campaigns and initiatives to attract new clients and expand current partnerships.
- Lead and inspire cross-functional teams, influencing local functional leaders to align with the global reinsurance strategy.
2. Reinsurance P&L Management:
- Manage the profitability and performance of the reinsurance portfolio, overseeing pricing models, risk assessments, and underwriting practices.
- Analyze and evaluate the financial impact of new reinsurance partnerships and pricing structures.
- Collaborate with finance teams to monitor and optimize the profitability of the reinsurance business, ensuring alignment with overall company objectives.
3. Relationship Building with Reinsurers and Senior Management:
- Nurture strong relationships with key reinsurers, top senior management, and stakeholders to foster partnerships and drive growth.
- Engage and collaborate with senior management of major reinsurers to ensure alignment of business objectives and maximize opportunities.
- Effectively communicate with top senior management, utilizing efficient communication styles and influencing strategies to drive success.
4. Group Life Underwriting Expertise:
- Utilize in-depth pricing and knowledge of Group life underwriting principles and risk assessment techniques to evaluate risk exposure and offer competitive & profitable quotes to our commercial teams.
- Collaborate with the individual underwriting team to assess and mitigate risks associated with life insurance products and portfolios.
- Provide guidance and support to underwriters in complex Group quotes, ensuring quality and accuracy in the underwriting process.
5. Market Research and Competitive Analysis:
- Conduct thorough market research and competitive analysis to stay up-to-date with industry trends, market dynamics, and opportunities.
- Analyze competitor offerings, pricing models, and risk management strategies to identify competitive advantages and areas for improvement.
- Utilize market insights to help develop innovative life product offerings from an Underwriting and Reinsurance standpoint.
6. Reinsurance & Underwriting Audits and Compliance:
- Conduct audits to ensure compliance with regulatory guidelines and best practices in reinsurance and life underwriting.
- Evaluate underwriting practices, policy parameters, and risk management guidelines to identify areas for improvement and enhance operational efficiency.
- Collaborate with internal teams to implement audit recommendations and maintain high standards of compliance and quality in reinsurance practices.
Qualifications Required:
- Bachelor's degree in Actuarial Science, Mathematics, Economics, Finance, or related field. Advanced degrees and professional certifications such as FSA, FCIA, FLMI, or equivalent are preferred.
- Postgraduate studies in Business Management and Insurance.
- Proven experience (minimum 10 years) in leadership roles within the life insurance/reinsurance industry, specializing in reinsurance and Group life underwriting.
- Strong understanding of reinsurance strategies, Group life underwriting principles, risk assessment and pricing techniques, and regulatory compliance.
- Excellent communication and interpersonal skills to engage and build relationships with reinsurers, top senior management, and stakeholders globally.
- Demonstrated leadership abilities, with the capability to influence and inspire cross-functional teams and local functional leaders towards shared goals.
- Strong analytical and strategic thinking skills, with the ability to synthesize complex concepts and present them persuasively to diverse audiences.
- Proven track record in developing and executing successful reinsurance strategies, acquiring new clients, and expanding existing partnerships.
- Up-to-date knowledge of industry trends, developments, and best practices related to reinsurance, marketing, Group life underwriting, and compliance.
Join us in our mission to provide innovative life insurance solutions to clients worldwide by leveraging your expertise in reinsurance, Group life underwriting, Reinsurance P&L management, and product development. Showcase your strong leadership abilities and efficient communication skills with top senior management, local functional leaders, and cross-functional teams.
