Pricing Actuarial - Mumbai, India - Response Informatics Limited

Description

• Proposing rating structure and develop rates/review and revise rates for retail products using advanced statistical techniques such as Generalized Linear Model
• Collaborate in the design of new General Insurance P&C products along with other stakeholders and play a pivotal role in product development.
• Create and review excel and EMBLEM models for pricing and profit testing.
• Provide main technical inputs and ensure robustness of pricing models and illustrations.
• Work with other functional stakeholders for execution and review of technical pricing dashboards.
• Ability to provide insightful summary of the results of various iteration and sensitivities done during pricing.
• Responsible for data analytics and management
• Review and sign off on all the pricing related work before review by Appointed Actuary.
• Prepare pricing reports, F&U and other necessary documents to facilitate product approval from IRDA.
• Active involvement in finalizing the pricing assumptions and take necessary sign offs.

• Ability to work with minimum supervision and problemsolving ability.
• Completion of tasks on time and at desired standards including documentation and audit trials.
• Accuracy of results and comprehensiveness of the pricing model/reports.
• Liaise with other members within the Product management team and accomplish other projects that are assigned from time to time.

• At least 6 Actuarial exams cleared.
• Minimum prior experience of 35 years working in a general insurance and/or actuarial consultancy on motor or health line of business is required.
• Awareness of competitive landscape in the Indian General Insurance market and IRDA regulations would be an added advantage.
• Experience of EMBLEM product pricing and other statistical analysis software like R, SAS, SQL Server preferred.

• Health insurance
• Provident Fund

• Day shift

• Performance bonus

• Mumbai, Maharashtra: Reliably commute or planning to relocate before starting work (required)

• EMBLEM: 3 years (preferred)