Employee Benefits Pricing and Product Director

Responsibilities:

Product Development, Pricing and Technical Support & Governance

• Technical review and inputs to medical cost assumptions and pricing models, group underwriting methods, health risks management, proposition and benchmark including benefits and wordings of new and refreshed products;
• Provide Chief Actuary and other key decision-makers with relevant risk assessment to support decisions on technical pricing or group underwriting quotations;
• Steer discussion with distribution channels, Claims, Underwriting, Medical Networks to align overall product strategy and implementation;
• Establish best practice and tools for product development, pricing and portfolio performance monitoring;
• Review reinsurance arrangement to achieve optimal strategic alignment, product proposition and profitability, and contribute to arrangements with health service and process providers;
• Ensure adequate transparency of business performance through timely reports of technical and business decisions, and regular experience reviews.

Product Propositions

• Strive for EB product innovations and feasibility study to enhance customer value propositions and business growth opportunities across distribution channels;
• Maintain and further develop product knowledge base to facilitate knowledge sharing and idea generation;
• Lead research and regular updates of public-private healthcare systems to identify opportunities and manage risks.

Performance Reporting & Data Analytics

• Lead technical analysis and develop tools to systematically review and monitor performance including claims analysis & wellness report;
• Steer insights from technical analyses to drive business actions to improve Employee Benefits portfolio performance and achieve targets;
• Participate in Strategy Planning and regular Business Reviews to drive Employee Benefits strategy and actions to manage key business risks with internal and external stakeholders;
• Recommend solutions to overcome challenges and risks; 
• Co-ordinate and work with other teams (e.g., Claims, Underwriting, Medical Networks) to drive recommended solutions;
• Department budget & expense control

Health Underwriting

• Monitor daily processes to streamline the medical underwriting workflow & processes and work across departments to solve the daily operations and problems to improve turnaround time, improve accuracy and consistency to meet the AXA’s operational requirements and guidelines;
• To liaise and work closely with Reinsurers on the medical underwriting assessment of Group Life cases and drive for optimal underwriting terms.

Qualifications:

• Proven experience in product development & pricing in insurance industry, particularly in EB
• Fellow Actuary - Good technical foundation, with excellent working knowledge of actuarial techniques, issues and application to product pricing and experience review, and reporting;
• Strong working knowledge of insurance product development process, including   marketing, operation, distribution and systems considerations;
• Familiar with insurance company business and operations in a multi-national company setting;
• Strong drive, able to work independently and take lead in designated projects with multiple stakeholders;
• Excellent influencing, negotiating skills and communication capability, including the ability to interact and partner with other team leaders to achieve objective.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 52 markets and serving 92 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers in Hong Kong, we offer integrated solutions across Life, Health and General Insurance. We are the largest General Insurance provider and a major Health and Employee Benefits provider. Our aim is to not only be the insurer to provide comprehensive protection to our customers, but also a holistic partner to the individuals, businesses and community we serve. At the core of our service commitment is continuous product & service innovation and customer experience enrichment, which is achieved through actively listening to our customers’ needs and leveraging and investing in technology and digital transformation.

We embrace our responsibility to be a driving force against climate change and a force for good to create shared value for our community. We are proud to be the first to address the importance of mental health through different products and services and thought leading iconic research. Our overall Sustainability Strategy, with emphasis on climate strategy and biodiversity commitment, is developed based on TCFD recommendations. We are committed to integrating environmental, social and governance factors across our business and strive to contribute to a sustainable future through 3 distinct roles - as an investor, an insurer and an exemplary company.

AXA is an equal opportunity employer. We are committed to promoting Inclusion and Diversity (I&D) by creating a work environment where all employees are treated with dignity, respect, and where individual differences are valued. We welcome and treasure diverse profiles to join our big family, and to build an inclusive culture together which allows everyone to maximise their personal potential.

Our people strategies are designed to enhance employee well-being and professional growth, ultimately empowering them to excel within the company.

Click here to learn more about our Benefits (https://www.axa.com.hk/en/benefits), Culture (https://www.axa.com.hk/en/culture-and-values), & Career Development (https://www.axa.com.hk/en/career-development).