Pricing Actuarial

3 weeks ago

Mumbai, India Response Informatics Limited Full time

Looking for Pricing Actuarial - General Insurance Company - Mumbai

**KEY RESPONSIBILITIES**:
**Product Pricing**
- Proposing rating structure and develop rates/review and revise rates for retail products using advanced statistical techniques such as Generalized Linear Model
- Collaborate in the design of new General Insurance P&C products along with other stakeholders and play a pivotal role in product development.
- Create and review excel and EMBLEM models for pricing and profit testing.
- Provide main technical inputs and ensure robustness of pricing models and illustrations.
- Work with other functional stakeholders for execution and review of technical pricing dashboards.
- Ability to provide insightful summary of the results of various iteration and sensitivities done during pricing.
- Responsible for data analytics and management
- Review and sign off on all the pricing related work before review by Appointed Actuary.
- Prepare pricing reports, F&U and other necessary documents to facilitate product approval from IRDA.
- Active involvement in finalizing the pricing assumptions and take necessary sign offs.

**MEASURES OF SUCCESS**:

- Ability to work with minimum supervision and problem-solving ability.
- Completion of tasks on time and at desired standards including documentation and audit trials.
- Accuracy of results and comprehensiveness of the pricing model/reports.
- Liaise with other members within the Product management team and accomplish other projects that are assigned from time to time.

**QUALIFICATION & EXPERIENCE**:

- At least 6 Actuarial exams cleared.
- Minimum prior experience of 3-5 years working in a general insurance and/or actuarial consultancy on motor or health line of business is required.
- Awareness of competitive landscape in the Indian General Insurance market and IRDA regulations would be an added advantage.
- Experience of EMBLEM product pricing and other statistical analysis software like R, SAS, SQL Server preferred.

**Salary**: ₹1,500,000.00 - ₹1,800,000.00 per year

**Benefits**:

- Health insurance
- Provident Fund

Schedule:

- Day shift

Supplemental pay types:

- Performance bonus

Ability to commute/relocate:

- Mumbai, Maharashtra: Reliably commute or planning to relocate before starting work (required)

**Experience**:

- Pricing Actuarial: 3 years (preferred)
- EMBLEM: 3 years (preferred)

Work Location: In person

**Speak with the employer**
+91 9025578655
Application Deadline: 31/07/2023

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