Data-Driven Actuary

1 day ago

Mumbai, Maharashtra, India beBeeActuary Full time ₹ 1,80,00,000 - ₹ 2,50,00,000
Parametric Insurance Actuary Position

We are seeking a highly skilled and innovative actuary to join our geospatial analytics team in a role that combines actuarial expertise with cutting-edge geospatial technology. This position involves developing cutting-edge parametric insurance models using satellite imagery and climate data to address the growing challenges of climate change.

This role requires analyzing complex data sets to identify trends and develop models predicting climate-related events. You will be responsible for designing and implementing parametric insurance products based on satellite and climate data, using mathematical and statistical techniques to assess probabilities and financial impacts of climate risks.

  • Design and Implement Parametric Insurance Products: Develop innovative solutions using mathematical and statistical techniques to assess probabilities and financial impacts of climate risks.
  • Collaborate with Data Scientists and Geospatial Experts: Integrate satellite imagery into actuarial models to enhance predictive accuracy.
  • Develop Pricing Models: Create pricing models for parametric insurance products based on trigger events and payout structures.
  • Evaluate and Minimize Basis Risk: Analyze and mitigate basis risk in parametric insurance solutions.
  • Presentation and Reporting: Prepare presentations and reports explaining findings to stakeholders.

You will work closely with underwriters and claims teams to ensure the successful implementation of parametric insurance products and stay updated on advancements in satellite technology, climate science, and their applications in the insurance industry.

The ideal candidate should have a Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field, and at least 5 years of experience in actuarial work, preferably in property and casualty insurance.

Required Skills and Qualifications:

  • High Level of Numeracy and Mathematical Skills: Possess strong analytical skills and attention to detail.
  • Analytical Thinking and Creative Problem-Solving Abilities: Demonstrate ability to think critically and solve complex problems.
  • Excellent IT Skills: Proficient in statistical software and databases.
  • Strong Business Acumen: Understand the insurance industry and its trends.

This role offers an exciting opportunity to be at the forefront of innovative insurance solutions, combining actuarial expertise with cutting-edge geospatial technology to address the challenges of climate change and extreme weather events.

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