Maheen Faruqui

I am an Associate of the Society of Actuaries, USA, currently working as a Senior Actuarial Consultant at SHMA Consulting. I actively engage across Life, Non-Life, and Health insurance lines of business overseeing pivotal areas such as pricing, statutory reserving, statistical analytics, and development initiatives including actuarial models, to support a diverse portfolio of clients within the Middle East region. My current role and past experience enables me to leverage my adept project management skills and solution delivery acumen, while also fostering strong relationships with a wide array of clients; spanning from large corporations to mid-sized enterprises.

My responsibilities and achievements as Senior Actuarial Consultant are as follows:

• Perform pricing adequacy assessments for motor and medical lines of business for a major KSA-based insurer to ensure alignment of their pricing strategies with market demands while maintaining competitiveness.
• Collaborate with the client’s underwriting and actuarial teams to evaluate pricing of medical policies, leveraging expert insight and recommending innovations to enhance profitability and competitiveness
• Conduct periodic statutory reserving exercises for the commercial (Property & Casualty) and medical line of business for a KSA-based client, involving assumption setting and Actual to Expected analysis of Ultimate Claims.
• Developed user-friendly, navigable Power BI dashboards for a major UAE client covering motor, medical, and commercial lines of business, engaging key stakeholders from operations and finance to ensure strategic alignment
• Led a team of actuaries to conduct an Asset Liability Management exercise for a KSA-based client, with an asset base exceeding SAR 4 billion, to assess their financial risks and provide strategic recommendations while ensuring regulatory compliance.
• Executed a comprehensive actuarial due diligence exercise (including net asset valuation and reserve adequacy assessment) for the acquisition of an insurer engaged in conventional and takaful operations in Bahrain.
• Evaluated the pricing of a specialized product tailored for Domestic Workers in KSA, utilising market research insights to formulate pricing strategies in line with the company’s objectives.
• Led a stress test and scenario analysis to enhance client's risk management capabilities by assessing potential impacts on capital and solvency.

Associateship of the Society of Actuaries, USA