The Health Pricing Officer provides actuarial pricing support for health insurance products throughout their lifecycle, covering product development, portfolio management, repricing initiatives, profitability analysis, model review, and pricing documentation. This role partners with various stakeholders to deliver pricing solutions that balance customer value, competitiveness, and business profitability.
The position also supports the evaluation of new business opportunities, maintains pricing models and governance standards, and monitors product performance to identify improvement opportunities. By applying actuarial expertise and analytical insights, the role contributes to sustainable growth and long-term portfolio success.
Position Responsibilities
Responsible for managing and coordinating Health Pricing activities, including product development, product management, portfolio management, and repricing initiatives from an actuarial perspective. This includes participating in the developing health product strategies and engaging the Product Steering Committee, with the aim of ensuring timely product development, implementation and launch.
Responsible for developing and maintaining premium rates and benefit structures for Health products in consultation with the Product Proposition and Development function within Product Management, as well as with the various Distribution Channels. This includes ensuring the financial assumptions used in the pricing of products are in line with Corporate and Company guidelines, as well as balancing profitability, competitiveness, customer value, and distribution requirements.
Collaborate with Experience Study and Health Analytics team to analyze portfolio performance and emerging experience, translating insights into pricing, repricing, and portfolio management recommendations.
Coordinate with the Life Pricing Officer in accordance with Manulife’s Corporate Pricing Standards, including : Identify, understand, analyze, and communicate the risk inherent in the Health product portfolio to the business unit’s management, Divisional and Corporate Risk Management, and other relevant parties around the company. Be fully accountable for the integrity of the pricing of the liabilities; and ensuring all metrics have integrity and convey risk and return in a robust manner. Ensure Health product pricing is in compliance with Company policies and the Corporate Pricing Standards.
Take a leading role in the creative process of developing new Health products to support the growth strategies of the various Distribution Channels. This includes reviewing and potentially enhancing the existing portfolio of products with the aim of maintaining competitiveness in market place and generating incremental sales.
Regional Reporting and analysis
Provide actuarial support to projects, management reporting, ad-hoc analysis, and business recommendations for senior management together with Life Pricing Officer.
Strengthen robustness of data management and develop adequate capabilities to improve decision making and portfolio oversight.
Business Planning
Coordinate with Pricing Strategy and Finance team to deliver and effectively communicate annual company business plans covering Health business, financials associated with strategic plan, OJK business plan including updates.
Support budgeting process with Distribution Channel on Health sales and ensuring budget to align with company objectives and growth targets as well as compliance with company standards
Highlight and communicate key opportunities and risks embedded in the plan to help management achieve targets that were set in the business plan
Required Qualifications
Bachelor’s degree (graduate’s degree is a plus) in Actuarial, Mathematics, Statistics, Finance or related discipline.
Fellow from internationally recognized actuarial organization (e.g. PAI, SOA, IAAust, IA)
Minimum 12 years of experience in an actuarial pricing function (with significant experience in…