Overview

Health Actuary – Global Health

Permanent

Our client is looking to hire a Health Actuary in Global Health to join their London based office on a Permanent basis.

Ref: 49546

  • Location: London
  • Category: Life Actuarial
  • Type: Permanent

Overview

Key Duties:

Procedures & Guidelines for Health Insurance:

  • Assist in developing and maintaining international Pricing Bases, Procedures and Guidelines (Pricing Manual) for Health Insurance, covering all health products that they may reinsure. This must reflect the implementation of Global (Global Health Products), Divisional and Corporate standards and practices and thereafter maintain, modify and enhance these guidelines in accordance with experience & trends
    • Such guidelines to include a description and recommendation of peer review and technical review standards, profit targets, hereunder Economic Capital requirements, data standards and “information to quote” as well as control procedures
    • Delegate these tasks to the local health actuaries, as appropriate, and assist to project manage the relevant processes
  • If practices are varied from Global, Divisional or Corporate standards and practices, then pre-approval is to be received from the Chief Actuary – Global Health, Regional Chief Pricing Actuary, Corporate Actuary or Global Chief Risk Officer with appropriate rationale and reasoning and the same to be documented
  • Assist in the build of a reference library of information for use globally by staff

Implementation:

  • Assist in advising the divisional/regional actuaries as requested on how they should handle the health/medical risks
  • To provide support and best practice recommendation to the local chief actuaries and health teams during the quote and PD process for health/medical business
  • To work with the Chief Actuary – Global Health on pricing and product development issues relating to the risk

Pricing Tools / Software:

  • Become an expert in the pricing tool/software(s) used for health business
  • With the assistance of the Chief Actuary – Global Health and Regional Actuaries, ensure each office has the best up to date pricing/modelling/forecasting/analysis software tools reflecting global/divisional/corporate standards
  • Identify needed improvements to pricing software/tools and alert the Chief Actuary – Global Health to the requested changes/updates

Health Business Monitoring:

  • Assist in defining, collecting and warehousing/administration of health data
  • Assist to define & develop methods & tools to ensure that health business is monitored closely, such as a data warehouse, regular dashboards and full experience analyses including use of techniques such as run off triangles and seasonality adjustments
  • Ensure that any adverse trends either at treaty, portfolio, market or global level can be identified and are addressed at the earliest opportunity

Treaties:

  • Preparing/reviewing reinsurance treaties that accurately reflect and control the risk accepted by making use of standard treaty templates/wording
  • Assist develop and maintain health treaty and letter of offer templates taking account of local market practices – including training of local offices

Valuation & Financial Reporting:

  • Assist and liaise with both departments to ensure that the business can be properly valuated and accounted

Training:

  • Develop & carry out timely and continuous internal training for local staff with respect to pricing and monitoring of the health business
  • Where needed assist clients in pricing of health covers

Health R&D:

  • Assist where requested to investigate any new developments in health insurance
  • Work with the Global Research & Data Analytics department in order to plan and develop experience analyses and monitoring processes both locally and globally, including the promotion of new techniques such as predictive modelling

Keeping Abreast:

  • Stay on top of health trends that may affect the company, especially with regard to the pricing/monitoring function
  • Unless otherwise assigned, inform interested parties of emerging trends and ensure the company takes specific action to:
    • Address opportunity/threat
    • Implement compliance
    • Influence regulations/trends as need be
  • Actively participate in industry working groups, committees and meetings

Relationship Management:

  • Build strong relationships with clients, health actuarial consultants, global health team, local offices, local pricing actuaries and regional / divisional / corporate actuaries

Travel:

  • Travel to the company’s global offices and markets will be expected to achieve the goals outlined within this document and to achieve the company’s business plan goals
  • Travel outside of home country is expected at 10-20% annually

Management Information:

  • As requested, work with the respective Local and Global Heads of Health to identify the appropriate management information (format, content, distribution list, timeline, source) to be published to various interested parties
  • Assist in the development and maintenance of the Global Health SharePoint site containing relevant material and guidance, particularly as it relates to the actuarial function
  • Assist in using and disseminating the internal systems and data to enable local and global management to monitor the company’s health business. This includes, amongst others, CRM, TIMS, CFRi, Business Objects and the Health Data Warehouse
  • Take a direct involvement into the set-up, input and maintenance to any new monitoring systems, in particular the Health Data Warehouse and output reporting tools

Global Health Transactions:

  • Assist in the onboarding of any new global quotes/opportunities in health that span multiple geographies/offices.
  • Assist in the management and maintenance of such global transactions
  • Interact positively with the direct client to build relations/partnerships and promote further the company’s offerings

Qualifications required:

  • Qualified experienced actuary considered a specialist in health

Experience required:

  • 1-5 years PQE predominantly in medical/health business
  • Experience of health/medical insurance products within at least one market and willingness to learn others

Consultant

John Koehler

Business Manager – Life Actuarial

T: +44 (0)203 867 9830

Email me

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