Senior/Executive Officer - Actuarial

Job Description

EFU Life Assurance Ltd. is a leading life insurance company in Pakistan, focusing on delivering financial security and peace of mind to its customers. As part of our growth journey, we are seeking a passionate candidate to join our Product Development team within the Actuarial Services Department. The ideal candidate will assist with pricing analyses, product development, and collaboration across various teams, ensuring market needs and regulatory standards are met. This role provides an opportunity to work in a dynamic environment, fostering comprehensive industry knowledge and strong business acumen, while making a significant impact on the future of insurance in Pakistan. This position does not involve managing a team, which allows candidates to focus primarily on technical and analytical skills whilst supporting junior team members.

Responsibilities
 

• Perform detailed pricing analyses to set competitive rates, ensuring new product profitability and sustainability.
• Collaborate with cross-functional teams to develop innovative life insurance products that meet both market needs and regulatory requirements.
• Calculate parameters for pricing across various product types and model points, ensuring accuracy and precision.
• Provide clear and effective communication within and across teams to facilitate cohesive product launches and rollouts.
• Support and mentor junior team members on product development and pricing methodologies, fostering a culture of knowledge sharing.
• Contribute to strategic initiatives aimed at expanding insurance penetration in Pakistan, enhancing customer value and experience.
• Utilize data analytics tools, including Microsoft Excel and R, to gather insights and inform decision-making processes.
• Engage in quantitative analysis to evaluate new product performance and market trends, adapting strategies accordingly.
• Maintain strong organizational skills to prioritize tasks efficiently and meet project deadlines in a fast-paced environment.
• Work collaboratively with various stakeholders to align product offerings with business objectives and customer needs.