Underwriting/Actuarial Officer

Job Summary

Develop and implement risk management strategies aimed at a continuous rebalancing of price and costs to maintain the profitability of health care plans.

  • Minimum Qualification: Degree
  • Experience Level: Mid level
  • Experience Length: 3 years

Job Description

Duties and responsibilities:

  • Develop and implement risk management strategies aimed at continuous rebalancing of price and costs to maintain profitability of health care plans.
  • Handles the development and preparation of loss ratio reports and claims analysis.
  • Handles analysis of data and provides analytical summaries to arrive at the recommendation to improve risk management and pricing strategies.
  • Conducts researches on functional issues using a variety of resources. Develops and prepares reports based on the results of these researches. 
  • Develops, maintains, audits and reviews functional databases and identifies inconsistencies from internal and external sources.
  • Interprets government regulations and internal policies as relates to healthcare insurance
  • Prepares recommendations based on data summaries, trend analyses, financial analysis and business analysis for profitability in line with best practices.
  • Analyze data, constructs probability tables to forecast risk a d liability for future payment benefits,
  • Prepares and analyze ratings for new and renewing commercial healthcare insurance benefit package for implementation.
  • Updates and reviews pricing ad rating model, trends and assumptions,
  • Assists in product development activities and ensure timely and accurate Actuarial support on healthcare product development related programs and initiative.
  • Prove underwriting analysis for pricing ad risk assessment selections including financial, business and trend analysis of data critical for decision making in achievement of business objectives.
  • Prepares and may do presentations and reports.
  • Periodically conduct cost/price analysis taking into account the combined effect of annual wage inflation, increases in claims cost arising from utilization/provider cost increases to determine appropriate level of premium for health care services. 
  • Continuously review risk factors in managed health care products and advise management appropriately.
  • Review and evaluate all claims cost to ensure risks are kept within tolerable limits or mitigated.
  • Provide professional input in the product design and development process
  • Perform other related duties as may be assigned.
  • Underwriter is the gatekeepers for healthcare insurances.


Qualifications: 

  • BSc/MSc in Applied Mathematics, Actuarial Science, Statistics or Degree in Mathematics.  
  • At least 3 years’ experience and must have impressive tract records in conducting actuarial and risk analysis to develop pricing and new and exist g products I line with management’s and company’s objectives
  • Strong analytical skills and adept interpreting strategic vision into an operational and tactical model for clear implementation. 

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