Product Actuary - Employee Benefits

Overview

The Employee Benefits (EB) Product Actuary will be instrumental in steering the growth and profitability of MetLife Gulf’s Employee Benefits operations covering UAE, Qatar, Oman, Kuwait, and Bahrain. This encompasses group medical, life, disability, and credit life insurance products. The role focuses on creating pricing frameworks, innovating new insurance products, and refining current offerings to address changing customer and market needs. A profound expertise in group medical, life, credit life insurance, financial modeling, and regulatory standards, coupled with a strategic and innovative approach, is essential.

Key Relationships

• Reports directly to EB Technical Director Gulf
• Collaborates with Head of Product Gulf, Head of EB Underwriting Gulf, and Head of EB Sales Gulf

Main Responsibilities

• Develop and price competitive insurance products for group medical, life, disability, and credit life, aligned with company goals and local market requirements.
• Create and maintain actuarial models for pricing and financial forecasting, adhering to MetLife’s Actuarial Practice Standards.
• Work closely with underwriting, sales, finance, operations, and claims teams to optimally position and support products.
• Track product financial performance, analyze trends and discrepancies, and recommend pricing or product modifications accordingly.
• Deliver comprehensive reports and proposals to senior leadership, offering insights based on actuarial data.
• Keep updated on legislative and regulatory changes affecting product lines ensuring full compliance with local laws.

Required Qualifications

• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, or closely related discipline.
• Qualified (fellow/associate) or nearly qualified actuary with a recognized actuarial association.
• At least 5 years of pricing and product development expertise in group medical, life, disability, and credit life insurance.
• Strong skills in data analytics tools such as Alteryx and SAS, plus proficiency in data visualization platforms including Power BI, Tableau, and QlikView.
• Knowledge of artificial intelligence and machine learning applications in pricing, underwriting, and product formulation.
• Excellent problem-solving capabilities and robust analytical and decision-making abilities.
• Effective communication skills for explaining complex actuarial ideas to non-technical audiences.
• Capability to juggle multiple priorities in a fast-paced environment while collaborating across functions, accompanied by leadership and strong verbal/written communication skills.

Preferred Qualifications

• Experience with the GCC insurance market, particularly employee benefits and relevant regional regulatory frameworks.
• Track record managing multi-country product portfolios and spearheading strategic product development programs.
• Proven success leading cross-functional initiatives involving AI or digital transformation that generate tangible business outcomes.

About MetLife

MetLife, recognized by Fortune as one of the "World’s Most Admired Companies" and among the "25 Best Workplaces™," is a premier global financial services provider delivering insurance, annuities, employee benefits, and asset management. We operate in over 40 markets with leading positions in the US, Latin America, Asia, Europe, and the Middle East.

Our New Frontier strategy focuses on building an AI-driven, human-centered future. We seek individuals with curiosity, adaptability, and growth mindsets to leverage AI for enhanced customer service, community support, and workplace evolution. At MetLife, AI complements human judgment, creativity, and ongoing enhancement, promoting trust, inclusion, and sustained value.

Our mission is to assist colleagues, customers, communities, and the world in building a confident future, guided by principles such as collaboration, integrity, impact, and foresight. Join us in shaping the coming century in financial services.