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Senior Pricing Actuary, Health Insurance

Location Singapore, Singapore Job type Full-Time Work mode Hybrid Job level Professional Job ID 13528 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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Munich Re is the world’s largest reinsurer and a leading provider of reinsurance solutions in Asia. Southeast Asia represents one of the most dynamic and high-growth regions globally, offering exciting opportunities for Munich Re’s continued expansion. 

As part of our growth in the Southeast Asia Health team, we are seeking a qualified Actuary at mid to senior level with strong technical expertise and a focus on health insurance products.


The Health Team is currently formed of 8 individuals, which includes a Head, three qualified actuaries, two actuarial analysts, an underwriter and a data manager. There is significant opportunity in the Southeast Asia Health market, and we are looking for a technically strong actuary to help leverage these opportunities and grow the Munich Re Health portfolio profitably.


Your Role

Actuarial Analysis

  • Provide guidance to the team and conduct comprehensive technical reviews of  pricing (or re-pricing) of health insurance products for clients.
  • Perform robust statistical analyses on large volumes of experience data and medical research to develop appropriate pricing health assumptions, as well as review the work of others;
  • Carry out detailed portfolio monitoring at treaty level, analysing loss ratios to assess current performance and recent trends
  • Use these analyses to identify segments of policyholders with unfavourable experiences and  generate ideas on appropriate remedial actions;
  • Support the development of enhanced and automated actuarial tools to enable scalable portfolio monitoring and more effective pricing, including the use of Generalised Linear Models (GLMs)
  • Generate IBNR factors for internal and external requirements.

Product Development:

  • Design new health insurance products and benefits, with consideration of marketability vis-a-vis risk management;
  • Work closely with medical underwriters and other subject matter experts to ascertain risk management of product features / new health risks, marketing approach and underwriting questions;
  • Participate in research and development activities relating to medical trends across Southeast Asia markets

Client Liaising:

  • Present portfolio monitoring analyses, including mitigation actions where required, with both client managers and clients directly;
  • Generate new product ideas and present them internally and to clients;
  • Involvement in other client facing responsibilities and managing clients’ requests;
  • Provide client managers support in handling product, and other, queries from clients;

Mentoring and Management:

  • Share technical knowledge with the team and support the development of more junior colleagues
  • Provide day-to-day leadership and guidance to a team of 2–3 qualified actuaries

Your Profile

  • Mid - Senior level Qualified Actuary (FSA, FIA, FIAA) with at least 15 years’ total experience;
  • At least 10 years of experience in Pricing or R&D, including building all components of best estimate Health assumptions and carrying out ‘deep dive’ experience analyses, preferably in Health;
  • Life & Health Reinsurance experience, with sound understanding of how reinsurers operate and add value to cedents.
  • Experience in managing a small team is required.
  • Experience of incorporating medical opinion and external judgement into Pricing assumptions / basis setting;
  • Familiarity with Southeast Asia markets, including Health products, regulation and commercial practices;
  • Ability to work with large volumes of data in SQL, Python or an equivalent tool, as well as strong skills in Microsoft Excel (ability to perform complex functions) and Access;  
  • Strong statistical analysis abilities, including in Generalised Linear Models or machine learning techniques, combined with sound judgement and commercial awareness;
  • Good communication skills with the ability to negotiate, present and share ideas with colleagues and clients;
  • Ability to work independently, as well as with the team, take the lead on projects and provide effective training and coaching to more junior team members;

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the centre of this interaction is each of us.

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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