Senior Data & Actuarial Analyst (Health Insurance)

Senior Data & Actuarial Analyst, Health Insurance

Company: Munich Re

Location: Singapore, Singapore

Munich Re is the world’s largest reinsurer and a leading provider of reinsurance solutions in Asia.

As part of our expansion in Southeast Asia, we are seeking a Senior Data & Actuarial Analyst with experience in the Life & Health markets to work in the Health team. The team currently consists of a Head, four Actuaries, one Actuarial Analyst, a Data Manager, and a Senior Underwriter.

There is significant business opportunity in the Health markets in Southeast Asia. The team is looking for a Senior Data & Actuarial Analyst who can help enhance the tools and processes to leverage these opportunities and grow the Munich Re Health portfolio profitably.

Your Role:

You will work closely with the Actuaries and the Data Manager, enhancing the efficiency of our data preparation for actuarial analyses through building automation modules and cleaning client-specific datasets. As part of your progression, you will support and undertake full actuarial experience analyses on our health portfolio.

• The role will also involve checking claims and client Statements of Accounts for consistency and errors. It is important that you take the initiative to build more efficient processes, particularly using coding programs such as Python and potentially Gen AI.
• Data Manipulation and Checking:
  • Liaise with internal accountants or clients on data issues;
  • Check Statement of Accounts and transform presentation of data from Calendar Year to Underwriting Year approach;
  • Develop new coding to check the appropriateness of claims;
  • Work closely with the Actuaries to write code to automate data manipulation, transformation, and cleaning steps required to set up actuarial analyses;
  • Work with the data scientist teams in pursuit of the above.
• Actuarial Experience Analyses & Repricing:
  • Perform portfolio monitoring on a treaty level, based on loss ratios, to check current experience and recent trends. Use such analyses to identify segments of policyholders with poor experience and generate ideas on appropriate remedial actions;
  • Develop enhanced and automated actuarial tools to enable scalable portfolio monitoring and more effective re-pricing, including GLMs;
  • Generate IBNR factors for internal and external requirements.

Your Profile:

• Student Actuary (with any of FIA, SOA, or IOAA), with at least 5 years of work experience.
• Experience in one or more of the Thailand, Indonesia, Malaysian, or Vietnamese markets, including data manipulation and carrying out ‘deep dive’ experience analyses, preferably in both Health and Life.
• Ability to work independently and collaboratively within a team. This includes a commitment to providing managers with clear regular updates on progress.
• Ability to work with large volumes of data in SQL and Python, and other equivalent tools, along with strong skills in Microsoft Excel (e.g., can write advanced macros) and Access.
• Good understanding of reinsurance knowledge.
• Excellent command of English - both written and verbal.
• Good communication skills with the ability to negotiate, present, and share ideas with colleagues and clients.
• Strong statistical analysis abilities, including in Generalised Linear Models or machine learning techniques, combined with sound judgment and commercial awareness.
• Some experience in Gen AI.

Benefits:

• Flexible and hybrid working arrangements
• Generous annual leave allowance
• Comprehensive dental, life, and health insurance coverage

At Munich Re, we embrace and value the interaction of diverse backgrounds, experience, perspectives, and thought. This interaction is the foundation of our open culture, spirit of partnership, and how our teams are built and cultivated.