AVP-Actuarial Pricing

3 weeks ago

Mumbai, India Savanna HR Full time

To conduct, review and report the monthly reserving for various General Insurance lines of business. Communicate clearly all findings and significant movements in any of the portfolios to finance and all key stakeholders every month.

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1 Strengthen and support the process Pricing function in the Actuarial team to enable filing and setup of new products or modifications of old products.

Clearly communicate all findings and significant movements in any of the portfolios and build strong documentation.

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2 Drive the process of Product Pricing by providing guidance on product structures, technical notes, communication of risk drivers within the framework of company’s risk appetite and overall product and business strategy.

Active involvement in reviewing of Pricing reports, F&U and other necessary documents to facilitate product approval from IRDA

Create and review excel and/or EMBLEM models for pricing and profit testing

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3 Proposing rating structure and developing rates for retail products using advanced statistical techniques such as Generalized Linear Model.

Review and revise rates as required for existing products to improve profitability.

Ensure correctness of the set-up of the pricing models and accuracy of calculation in line with Group pricing and retail guidelines.

Provide recommendations to EXCO members and key stakeholders on the pricing results (indicated factors, impact analysis, preferred segments, etc.,)

Collaborate with key stakeholders (IT, Underwriting, Distribution, etc.) to develop and execute pricing strategies.

Provide pricing documentation and support for regulatory filing and internal product approval process.

Advise on the development of new products to ensure the product setup, structure, and in front on collected information for pricing and portfolio monitoring purposes.

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4 Assist the Appointed Actuary/ Chief Insurance Officer in first review of various reporting documents (internal & external).

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5 Work independently with other functions internally and develop strong working relationships. Also work with Regional and Global Generali Teams to tackle business problems by representing the Actuarial function.

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6 Assist in developing metrices for internal risk management and tracking of key risks/ data items

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Fully qualified Actuary or up to few papers short of qualification

10-12 years of experience .

• Time Management & Prioritizing: Builds the time plan for self and team to deal with multiple and complex tasks.

• Result Orientation: Demonstrates & educates the ability to focus, enable and drive teams persistently to achieve assigned targets.

• Domain knowledge: Demonstrates & educates the ability to lead teams with subject authority and industry experience.

• Stakeholder management: Understands and sets expectations towards all stakeholders and delivers considering organizational success.

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• Knowledge of General insurance market and IRDAI regulations

• Data Analysis and Data Mining

• Strong hand in MS excel and word

• Statistical Analysis Software’s (R, SQL, SAS)

• Strong Communication skill

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