Head - Pricing - Insurance
M Corp · Mumbai · onsite · Posted 30d ago
About a minute. You'll make an account on the way through.
About this role
Roles and Responsibilities:
- Work closely with Senior Actuarial professionals and Product Development professionals to aid in product development and pricing.
- Undertake profitability reviews of key products on a regular basis to aid in overall organisational profit objectives meet with the pricing adequacy of the products.
- Build and lead a team of motivated pricing actuarial personnel with varied skill sets to handle a variety of pricing models and products.
- Be custodian of pricing processes and oversee that the process is well laid out and followed.
- Pricing process includes aspects, but not limited to, like ensuring high quality data, model building, deriving assumptions, model validation, updating of models, derivation of office premium after due considerations etc.
- Ensure good documentation of the statistical pricing, office premiums, discount features and advice stakeholders on the book building strategies.
- May be required to work on new product lines with very less internal data.
- Pricing of both portfolio level as well as ability work on large tenders, support role or act as second pair of eyes in large quotation.
- Provide inputs on contract structuring to the Product Development actuaries.
- Ensuring IT development is fully capturing the product specifications as envisaged.
- Try out newer Machine Learning models and incorporate as alternative validations to the primary models.
Experience and Qualification:
- Background Education - Graduation in Statistics or Data science from best colleges will be preferred.
- Post graduation in above areas will be even better suited.
- However, the below mentioned professional qualification will be primary criterion for education.
- Professional Qualification - recently Qualified or near qualification Actuary with consistent paper progress records.
- Experience - around 6 to 10 years of work experience in actuarial areas of General Insurance or Health Insurance.
- Indian Market experience will be an added advantage.
- Working knowledge of data handling software like SAS, R-system or Python.
- Past experience in building pricing models, roll out of office premiums, pricing reviews is important.
- Candidates are expected to have excellent communication skills, good model building and validation skills, good presentation skills.
Sourced from iimjobs