ACTOMATE
PRICING PRACTICE
We provide experienced actuarial resources to support the development and pricing of new products. We can provide all or most actuarial work for companies without adequate resources to support the pricing initiative. Our work can be performed using a combination of our proprietary pricing model and existing infrastructure of your company.
product development
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develop or review product design and benefits
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research and identification of target market
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customer suitability assessment
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prepare or review product specification
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project management
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plan and oversee entire product initiative
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project planning
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progress monitoring
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status reporting
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competitor benchmarking and analysis
pricing
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experience analysis and review
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develop key pricing assumptions
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determine premium or contribution rating factors
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develop and propose premium or contribution rates
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profit testing iterations with cash flow model
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sensitivity testing and analysis
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product documentation for internal approval and regulatory filing
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develop or review actuarial related contents in sales illustration, marketing brochure, policy contract, and product disclosure sheet
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product risk management
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identify product’s key inherent risks
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develop risk mitigation and management measures
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develop or update existing pricing policy
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develop, review, and audit pricing processes
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user acceptance test for system implementation
financial projection
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business planning
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business plan projection
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financial projection
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financial impact analysis
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assess capital adequacy
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analysis of capital required
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embedded value calculation
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measure of return to policyholders and shareholders
PRACTICE LEADER
Nadia is an Associate Actuary and she is the Country Lead for Indonesia at Actomate. Nadia has over 4 years of experience in product development, product pricing and financial projections in life insurance, family takaful (Syariah life insurance), medical insurance, life reinsurance, health reinsurance, group employee benefits as well as for insurtech startups.
Nadia has led pricing projects in Malaysia, Indonesia, Cambodia and Myanmar, for multinational and local insurers. She is familiar with local regulatory requirements and internal requirements of large multinational insurers, including IFRS 17, market consistent embedded value (MCEV), traditional embedded value, Risk-based Capital (RBC) and many others. Nadia is proficient in Excel, Visual Basic for Applications (VBA), Prophet, Data Conversion System (DCS) as well as R. Outside of product pricing, Nadia also has experience in actuarial modelling and actuarial valuation of employee benefit schemes, life insurance and general insurance.
Nadia is also proficient in robotic process automation (RPA). She has developed an automated life insurance valuation routine using Automation Anywhere, applying the latest technology and innovation.
Nadia graduated from UCSI University in Malaysia with First Class Honours in BSc Actuarial Science. She is an Associate of the Society of Actuaries (US) and studying towards attaining Fellowship of the SOA. She is a fast learner and is always keen to learn new things. Her organizational experiences have developed her strong communication, time management and problem-solving skills.
Nadia Suharto
ASA
Country Lead, Indonesia