Regional Head of Employee Benefits Technical, AXA Asia
Location: HONG KONG
Purpose of the Role
The Employee Benefits represents significant Line of Business for AXA in Asia in terms of strategic focus & to ensure sustainable growth.
The candidate will be responsible for strategically building, strengthening & monitoring technical competencies across Group life and health pricing & underwriting function while working extensively with teams (Data, Underwriting and Actuarial) at the regional and entity level.
The candidate will also be responsible for implementing strategic region wide portfolio monitoring tools to manage growth-profitability trade off.
1. Review and govern underwriting & pricing maturity and discipline
Review and assess current pricing maturity model across key entities (people, processes, platforms, techniques)
Propose a plan to Increase pricing maturity & lead the transition to the next stage of AXA’s Pricing Maturity Model across Asia.
Collaborate with Group entities to introduce/standardize/update Group Health Pricing tools across the region.
Strategically steer & control the portfolio across the region via regular portfolio experience reviews. Develop the process/framework to ensure regular IBNR & Medical trend reviews are conducted across the entities.
Monitor and review the Group Life and Health underwriting practices of the entities. Periodically update and rollout Group Health Underwriting guidelines. Create underwriting practices which demonstrate improved risk selection.
2. Rollout portfolio monitoring tools
Guide the teams to establish detailed Health business performance analytics. Stay abreast of all profitability trends (and their drivers) in the Group Health LOB, and give periodic analysis of the same to Senior Management.
3. Reinforce → Standardize → Streamline the underwriting referral process linked to Delegated Authority (DA) levels. In line with DA, provide pricing/risk management recommendations for non-standard cases or large corporate cases (>0.5M Euros).
4. Develop the process to review/standardize/update Group Health policy T&C across entities to ensure ease of understanding & claims administration.
Supervise the Group Product Approval Process (PAP) to perform and facilitate reviews of new group products, product changes and performance of existing products in compliance with the regional product guidelines
Oversee periodic market analysis to ensure current Group Health propositions are in line with the market. Support teams in terms of product innovations & conducting new product feasibility study.
Build a regional Group Health product repository to facilitate knowledge/ideas sharing across entities, including development of tools/processes
5. Create, implement and manage an effective Regional strategy on SME focusing on Product design, Pricing & portfolio management.
Offer business planning support (budget, forecasts, strategy plan) to entities
Work closely with Training & Development to create training content for Underwrites/actuaries. Organize annual training workshops for the entities.
Review expense allocation framework for Health to ensure accurate CoR reporting.
Ensure that relevant risk management information is regularly obtained from regional countries to support regional decision-making and then transmitted through to the AXA Group, as required.
Review reinsurance arrangement to achieve optimized product proposition and profitability outcome; and contribute to arrangements with Health service and process providers.
- Minimum 10 years of relevant experience in Group Life and Health insurance Underwriting, Pricing & Predictive (GLM) Modeling. Experience in SEA markets is not a must but preferred.
- Good technical foundation, with excellent working knowledge of underwriting & actuarial techniques, issues and application to product pricing and experience review. Fellow Actuary is not a must but actuarial qualification from a recognized institute is preferred.
- Strong expertise in MS Office especially in Excel/Word/VBA and SAS, EMBLEM, SQL
- Strong working knowledge of insurance product development process, including marketing, operation, distribution and systems considerations
- Proven managerial skills, ability to translate business strategies into clear objectives
- Excellent influencing, negotiating skills and communication capability, including ability to interact and partner with regional and local teams to achieve objective
- Detail-minded with strong data and analytical skills
- Proficiency in managing/ reporting portfolio performance, risk analysis, etc.
- Demonstrate an ability to drive change
- Strong Business acumen and understanding of the entire Health insurance value chain.
- Ability to present and communicate at a senior (C-Suite) level.
- Solid project management skills
- C (Programming Language)
- Feasibility Studies
- Microsoft Excel
- Microsoft Word
- Product Design
- Product Development
- Risk Analysis
- Risk Management
- SAS (Statistical Software)
- Visual Basic for Applications (VBA)