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Regional Health Actuary, China - Global Health

Position Overview

The primary function of the role is to support and accelerate the profitable and sustainable growth of the mainland China health/medical business:

  • Be a global technical specialist for China health/medical business including:
    • Reviewing/approving/improving quotations, pricing bases and monitoring experience.
    • Providing project management, direction and support to the local health teams including cross-functional support to deliver enhanced quote and product offerings to RGA's clients.
    • Keep on top of local and global developments that may impact RGA, including rapidly responding to regulatory changes and the opportunities created by such changes
  • Play a key role in the development of new (consumer) products and reinsurance structures, from ideation to implementation, for the China market
  • Define and develop enhanced pricing methodologies/best practices to be used when quoting health insurance covers, both reinsurance and direct.
  • Develop, enhance and work with the local health team to implement monitoring of in force business to ensure we can identify and stay ahead of any trends, as well as take necessary corrective action, both at portfolio and treaty level.
  • Training of local and global actuaries, actuarial students and health teams - both internal and external.
  • Ensure adequate and relevant standards and qualities are in place, implemented and regularly reviewed to manage the reinsurance risks accepted and enable the growth of the China health portfolio.
  • Support the development of value-added products and services
  • Assist in the management of any business maintained globally out of the Global Health Team.



Responsibilities

Procedures & Guidelines for Health Insurance

  • Assist in developing and maintaining China Pricing Bases, Procedures and Guidelines (Pricing Manual) for Health Insurance, covering all health products that we 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 and the Global Health strategy
  • 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 we should handle the health/medical risks in China.
  • Provide support and best practice recommendation to the local chief actuaries and health teams during the quote and product development process for health/medical business.
  • Work with the Regional Health Actuary, Asia on pricing and product development issues relating to the risk.


Health Business Monitoring

  • Assist in defining, collecting and warehousing/administration of health data
  • Assist to define, develop and enhance methods & tools to ensure that health business is monitored closely, using the Global Health data warehouse and in line with Global Health best practices
  • Ensure that any adverse trends either at treaty, portfolio or market level can be identified and are addressed at the earliest opportunity.


Health Business Monitoring

  • Assist in defining, collecting and warehousing/administration of health data
  • Assist to define, develop and enhance methods & tools to ensure that health business is monitored closely, using the Global Health data warehouse and in line with Global Health best practices
  • Ensure that any adverse trends either at treaty, portfolio or market level can be identified and are addressed at the earliest opportunity.


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/modeling/forecasting/analysis software tools reflecting global/divisional/corporate standards.
  • Identify needed improvements to pricing software/tools


Treaties

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


Valuation & Financial Reporting

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


Relationship Management

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


Value Added Products & Services

  • Support the development of value added products and services by Global Health and their implementation in China.



Requirements

    • Qualified experienced actuary considered a specialist in health.
    • 2-7 years post-qualification experience predominantly in medical/health business.
  • Preference will be given to candidates with strong recent experience in the China health market, but candidates with experience of health/medical insurance products in other markets will be considered

Regional Health Actuary, China - Global Health

Shanghai, China
Full time

Published on 18/03/2022

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