Senior Manager - Reinsurance and Underwriting, APAC

Purpose

This role requires an actuary who can engage in negotiations with Regional Reinsurers and has in-depth life & health product knowledge and in-depth experience in Individual and Group (Life & Health) business 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 liaise with Underwriters, Product Actuaries and Legals (for reinsurance treaty matters) while possessing exceptional communication skills to effectively engage with marketing, partnerships, claims, operations and finance personnel. The successful candidate should have in-depth knowledge in reinsurance, marketing, Traditional (Life & Health) products, Financial Reinsurance, Group (Life & Health) case underwriting, reinsurance portfolio management, reinsurance treaty clauses and wordings, and reinsurance aspects of product development and underwriting for alternative distribution.

Responsibilities

1. Reinsurance Strategy and Execution:
   • Support the development and execution of comprehensive reinsurance strategies to promote and sell life insurance products in APAC.
   • Support targeted marketing campaigns and initiatives to attract new clients and expand current partnerships.
   • Support and inspire cross-functional teams, influencing local functional leaders to align with the global reinsurance strategy.
2. Reinsurance Portfolio 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.
   • Manage and monitor the ongoing reinsurance accounts: reinsurance outgoes and reinsurance recoveries to ensure timely settlement.
3. Underwriting Expertise:
   • Utilize in-depth pricing and knowledge of Individual and Group (Life & Health) underwriting principles and risk assessment techniques to evaluate risk exposure and offer competitive & profitable quotes to our commercial teams.
   • Collaborate with the Individual medical underwriting team to assess and mitigate risks associated with life insurance products and portfolios.
   • Provide guidance and support to underwriters in complex Individual and Group quotes, ensuring quality and accuracy in the underwriting process.
4. 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.
5. 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

• Bachelor’s degree in Actuarial Sciences, 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 is an advantage
• Proven experience (minimum 10 -15 years) in key roles within the life insurance/reinsurance industry, specializing in reinsurance and underwriting. Experience in reinsurance pricing and knowledge of APAC markets is an advantage.
• Strong understanding of Life & Health products, reinsurance treaty wording, reinsurance strategies, 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, life underwriting, and compliance.