Actuary for Life and Health Insurance Pricing

6 days ago

Mumbai, Maharashtra, India SCOR Full time

Job Summary

This role will work closely with primary insurers to understand and assist in the appropriate pricing of their reinsurance arrangements. The role is to ensure that we build a sustainable, profitable portfolio of Life & Health business by bringing SCOR's global expertise to the Indian market. This will include working with Pricing experts at Regional and Global level within SCOR and will report to the Head of Pricing, Life & Health in India.

Key Responsibilities

In this role, you will work for the India pricing and product development initiatives and proactively engage with all internal stakeholders. You will also benefit from the Divisional team's expertise in pricing and product development across other Asian markets and from SCOR's leading R&D Centers in medical Underwriting and Life insurance risks.

The main responsibilities of the role are as follows:

  • Working with the India Pricing team, to price and document new reinsurance quotation requests in the India market across the whole range of Life insurance risks (Mortality, PA, Health, Critical Illness), adhering to a high technical standard and meeting client deadlines.
  • Research on the India pricing basis, improving the quality of actuarial assumptions, and supporting competitive quotations.
  • Development of product enhancements tailored to the India market, providing innovative support to the market managers.
  • Coordination with divisional risk management and actuarial teams on business referrals.
  • Support marketing activities and external communication via presentations, client training etc.

Required Experience & Competencies

The following attributes are required:

  • At least 5 years of relevant experience in Life & Health Insurance in any of the following: Actuarial Pricing / Products.
  • Strong data analytics capabilities, attention to detail and problem-solving ability.
  • Preferably qualified or close to qualification from IFoA or IAI or equivalent.
  • Effective interpersonal skills, ability to manage competing tasks, meet deadlines.
  • A self‐starter with the right cultural attributes to enhance SCOR's reputation in the market.
  • Proficiency in MS office and office applications like R.
  • Strong communication skills (both verbal and written).
  • Ability to work in a small client‐oriented team and collaborate to optimize SCOR's position.
  • Prior experience with a reinsurer or actuarial consulting will be an added advantage.

Required Education

The following attributes are required:

  • Bachelor's or master's degree in any analytical discipline such as Mathematics, Actuarial Science, Statistics, Engineering etc.
  • Qualified or close to qualification from IFoA or IAI or equivalent.
  • Any certification or degree in data Science/Analytics would be preferred.

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