Actuarial Individual Pricing Analyst

Job Description:

We are looking for an experienced Actuarial Individual Pricing Analyst to join our actuarial team. The ideal candidate will be responsible for pricing individual insurance products, performing actuarial analysis, evaluating product profitability, and supporting product development initiatives. The role requires strong analytical skills, actuarial expertise, and the ability to work closely with underwriting, finance, product, and business teams.

Key Responsibilities:

- Develop, review, and maintain pricing models for individual insurance products.

- Perform actuarial pricing analysis for new product launches and existing product revisions.

- Analyze claims experience, mortality, morbidity, lapse, and expense assumptions.

- Conduct profitability analysis and recommend pricing improvements.

- Prepare actuarial reports and pricing documentation for internal and regulatory purposes.

- Perform sensitivity testing and scenario analysis to assess pricing risks.

- Collaborate with product management, underwriting, finance, and risk teams during product development.

- Support product filings and ensure compliance with regulatory requirements.

- Monitor product performance and recommend pricing adjustments based on market trends and experience studies.

- Automate pricing processes and improve actuarial models wherever possible.

Required Skills:

- Strong knowledge of actuarial pricing methodologies.

- Experience in Individual Life Insurance Pricing.

- Expertise in Prophet, Excel (Advanced), VBA, or R/Python.

- Good understanding of mortality tables, lapse assumptions, and reserving concepts.

- Knowledge of IRDAI regulations and actuarial standards.

- Experience in experience studies and profitability analysis.

- Strong analytical, statistical, and quantitative problem-solving skills.

- Excellent communication and stakeholder management abilities.

Preferred Qualifications:

- 4-8 years of actuarial experience in life insurance pricing.

- Progress toward actuarial qualification (IFoA, IAI, SOA, or equivalent).

- Experience with pricing individual protection, savings, or term insurance products.

- Knowledge of actuarial modelling tools and automation techniques.