Product Actuary - Employee Benefits

The EB Products Actuary will play a critical role in driving the growth and profitability of MetLife Gulf’s Employee Benefits business operation across UAE, Qatar, Oman, Kuwait and Bahrain through group medical, life, disability insurance and credit life products. This position involves developing pricing strategies, designing new insurance products, and enhancing existing offerings to meet the evolving needs of our customers and the market. The successful candidate will possess a deep understanding of group medical, life and credit life insurance products, financial modeling, and regulatory requirements, combined with a strategic mindset and a passion for innovation. 

Key Relationships:

Reports to:EB Technical Director Gulf

Other Key Stakeholders:Head of Product Gulf, Head of EB Underwriting Gulf, Head of EB Sales Gulf

• Design and price competitive insurance products for group medical, life, disability and credit life, ensuring alignment with business objectives and local market demands. 
• Develop and maintain actuarial models for pricing and financial projections, ensuring accuracy and compliance with MetLife’s Actuarial Practice Standards. 
• Collaborate with cross-functional teams, including underwriting, sales, finance, operations and claims to ensure product offerings are effectively positioned and supported. 
• Monitor the financial performance of products, analyzing variances and trends to recommend pricing adjustments and product enhancements as needed. 
• Prepare and present detailed reports and proposals to senior management, providing insights and recommendations based on actuarial analysis. 
• Stay informed of legislative and regulatory changes that may impact product offerings and ensure compliance with all applicable local laws and regulations. 

• Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, or a related field. 
• Qualified (fellow/associate) & nearly qualified actuary in one of the recognized actuarial organizations. 
• Minimum of 5 years of pricing and product development experience focusing on group medical, life, disability and credit life insurance. 
• Strong proficiency in data analytics tools such as Alteryx, SAS and data visualization platforms such as Power Bi, Tableau, Qlikview. 
• Knowledge of AI and machine learning applications in pricing, underwriting, and product development.
• Problem solver with excellent analytical and decision-making skills. 
• Proven ability to communicate complex actuarial concepts to non-technical stakeholders. 
• Ability to manage multiple priorities in a dynamic environment, collaborating across functions Leadership, Management, excellent written and verbal communication skills. 

• Experience in the GCC insurance market, including employee benefits products and regional regulatory requirements.
  
• Experience managing multi-country product portfolios and leading strategic product development initiatives.
  
• Demonstrated success leading cross-functional AI or digital transformation initiatives that deliver measurable business value.