Actuarial Analyst

1 month ago

Hyderabad, India Kshema General Insurance Limited Full time

About Us

Kshema General Insurance Limited (Kshema) was established in 2018 and is India's only Digital Agri Insurance Company catering to farmers/cultivators in the Agriculture Sectors. Kshema enables cultivators with resilience from financial distress due to extreme climate events and perils through localised insurance products. Kshema is leveraging Technology to provide cutting edge insurance solutions to farmers.

Kshema has a pan India presence with more than 500+ employees on roles along with 500+ employees as contractors.


Job Description

The Actuarial Analyst in the Pricing Team will play a pivotal role in analyzing and developing pricing strategies for our insurance. products. This position involves working closely with the actuarial, underwriting, and product development teams to ensure competitive and financially sustainable pricing. The ideal candidate will possess strong analytical skills, a keen understanding of the insurance market, and the ability to apply actuarial techniques to solve complex pricing challenges.

  • Assist in the development and implementation of pricing models and strategies for various insurance products.
  • Work on the pricing for government business, including tenders.
  • Analyze market trends, competitor pricing, and customer behavior to inform pricing decisions.
  • Collaborate with the underwriting and product development teams to ensure pricing strategies align with business objectives and risk appetite.
  • Conduct profitability analysis and monitor the performance of pricing strategies, recommending adjustments, as necessary.
  • Prepare detailed reports, presentations, and visualization tools to communicate pricing analysis, results, and recommendations to senior management.
  • Support the actuarial team in regulatory filings and compliance related to pricing.
  • Engage in continuous learning to stay current with industry developments, actuarial practices, and regulatory changes.
  • Work closely with data scientists to utilize extemporization data and build granular and dynamic pricing algorithms.
  • Participate in cross-functional projects and initiatives as required.



Requirements

  • Progress towards actuarial qualifications with a recognized actuarial body (e.g., Institute of Actuaries of India) is highly desirable.
  • 1+ years of prior experience in an actuarial function within the insurance industry is advantageous, especially in pricing or related areas.
  • Proficiency in MS Office Suite, VBA, SQL, and Python along with the use of emerging technologies like GPTs and Power Platforms is desirable.
  • Deep understanding of actuarial principles, underwriting, regulatory environment, and product development processes
  • Strong analytical and problem-solving skills.
  • Strong attention to detail and ability to handle complex data.
  • Good communication skills, with the ability to present findings clearly and concisely.
  • A team player with a proactive approach to tasks and projects.

Educational Qualification:

  • Bachelor's degree in actuarial science, mathematics, statistics, commerce, or a related field.

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