Parametric Insurance Specialist

2 days ago

Chennai, Tamil Nadu, India beBeeActuary Full time ₹ 1,30,00,000 - ₹ 2,01,00,000

Actuarial Innovator Role

This exciting opportunity allows you to bring innovative thinking and expertise in actuarial science to develop cutting-edge insurance solutions.

As a key member of our team, you will play a vital role in combining mathematical techniques with geospatial technology to create parametric insurance products that provide rapid payouts based on predefined triggers.

Key Responsibilities:

  • Analyze complex data sets to identify trends and develop predictive models for climate-related events.
  • Design and implement parametric insurance products using satellite and climate data.
  • Assess probabilities and financial impacts of climate risks using statistical techniques.
  • Collaborate with 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.
  • Communicate findings to stakeholders through clear and concise presentations and reports.
  • Work closely with underwriters and claims teams to ensure successful implementation of parametric insurance products.
  • Stay up-to-date with advancements in satellite technology, climate science, and their applications in the insurance industry.

Required Skills and Qualifications:

  • Bachelor's degree in Actuarial Science, Mathematics, Statistics, or related field.
  • Associate or Fellow designation from a recognized actuarial society (e.g., SOA, CAS).
  • Minimum 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, including the ability to convey complex information to non-technical audiences.

Benefits:

This role offers an exciting opportunity to contribute to the development of innovative insurance solutions that address the growing challenges of climate change and extreme weather events.

The successful candidate will have the chance to work with a talented team, leveraging their expertise in actuarial science and geospatial technology to create impactful solutions.

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