Leading Actuary for Parametric Insurance Solutions

2 days ago

Agra, Uttar Pradesh, India beBeeActuary Full time ₹ 1,50,00,000 - ₹ 2,00,00,000

Role Summary:

We are seeking a highly skilled Actuary to develop innovative parametric insurance solutions. In this role, you will play a crucial part in combining actuarial expertise with cutting-edge geospatial technology to address the challenges of climate change and extreme weather events.

Key Responsibilities:

  • Analyze complex data sets to identify trends and develop predictive models for climate-related events.
  • Design and implement parametric insurance products based on satellite and climate data.
  • Utilize mathematical and statistical techniques to assess probabilities and financial impacts of climate risks.
  • Collaborate with data scientists and geospatial experts to integrate satellite imagery into actuarial models.
  • Develop pricing models for parametric insurance products based on trigger events and payout structures.
  • Evaluate and minimize basis risk in parametric insurance solutions.
  • Presentation and reporting skills are essential for communicating findings to stakeholders.
  • Work closely with underwriters and claims teams to ensure successful implementation of parametric insurance products.
  • Stay updated on advancements in satellite technology, climate science, and their applications in the insurance industry.

Required Qualifications:

  • Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.
  • Associate or Fellow designation from a recognized actuarial society (e.g., SOA, CAS).
  • At least 5 years of experience in actuarial work, preferably in property and casualty insurance.
  • Strong analytical and problem-solving skills.
  • Proficiency in statistical analysis and modeling software (e.g., R, Python, SAS).
  • Experience working with geospatial data and GIS software.
  • Excellent communication skills for conveying complex information to non-technical audiences.

Preferred Qualifications:

  • Advanced degree in Climate Science, Remote Sensing, or a related field.
  • Experience with machine learning and artificial intelligence applications in insurance.
  • Familiarity with satellite data sources and processing techniques.

Key Competencies:

  • High level of numeracy and strong mathematical skills.
  • Ability to think analytically and solve problems creatively.
  • Excellent IT skills, particularly in statistical software and databases.
  • Business acumen and genuine interest in the insurance industry.
  • Self-discipline and ability to work independently.
  • Teamwork and collaboration skills.
  • Commitment to continuous learning and professional development.

This role presents an exciting opportunity to be at the forefront of innovative insurance solutions that combine actuarial expertise with cutting-edge geospatial technology. The successful candidate will play a vital role in developing parametric insurance products that provide rapid, transparent payouts based on predefined triggers, helping to close the protection gap in both developed and emerging markets.

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