NICHOLAS ACTUARIAL SOLUTIONS

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

develop or review product design and benefits
research and identification of target market
customer suitability assessment
prepare or review product specification
project management
plan and oversee entire product initiative
project planning
progress monitoring
status reporting
competitor benchmarking and analysis

pricing

experience analysis and review
develop key pricing assumptions
determine premium or contribution rating factors
develop and propose premium or contribution rates
profit testing iterations with cash flow model
sensitivity testing and analysis
product documentation for internal approval and regulatory filing
develop or review actuarial related contents in sales illustration, marketing brochure, policy contract, and product disclosure sheet
product risk management
identify product’s key inherent risks
develop risk mitigation and management measures
develop or update existing pricing policy
develop, review, and audit pricing processes
user acceptance test for system implementation

financial projection

business planning
business plan projection
financial projection
financial impact analysis
assess capital adequacy
analysis of capital required
embedded value calculation
measure of return to policyholders and shareholders

Practice Leader

PRACTICE LEADER

Nadia leads the Pricing Practice at Nicholas Actuarial Solutions.

Nadia has over 2 years’ 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. She has led pricing projects in Malaysia, Indonesia, Cambodia and Myanmar, for multinational and local insurers. She is familiar with local regulatory and internal requirements of large multinational insurers.

Nadia graduated from UCSI University in Malaysia and was a recipient of UCSI University Trust Scholarship for the whole period. She graduated with First Class honours in BSc Actuarial Science and she is currently studying towards attaining Fellowship of the Society of Actuaries (SoA).

Nadia Suharto

Country Lead, Indonesia