Full-Time
Posted 8 months ago

Product Pricing and filing

  • Gathers data from various stakeholders and analyzes historical data/ risk parameters/ expected loss cost / loss ratio calculations/other metrics to assist in pricing of various products so as to maintain desired profitability for BAGIC
  • Responsible for analyzing inputs and deriving the pricing for tenders floated under government schemes
  • Responsible for analyzing inputs and deriving the pricing for retail products/large business quotes
  • Providing inputs on new (including revisions) product design and structure
  • Collaborating with concerned stakeholders such as underwriters, marketing, product development etc. with regards to the pricing and filing the same with IRDA.
  • Prepare technical documents related to pricing
  • Review all documents being signed by Appointed Actuary and then filed with IRDAI for accuracy and consistency.

Portfolio Monitoring and Analysis

  • Analyze existing retail portfolio performance on key factors by creating KPI reports for the same
  • Creating specific reports as an when required by other stakeholders – UW/ Marketing/claims
  • Provide support w.r.t. profitability review, projections of experience and renewal decision

Analysis And Adhoc Requirements

  • Uses market data to carry out competitor analysis, trend analysis, and price benchmarking
  • Assist in the development of pricing/distribution tactics that maximize profitability for target volumes
  • Collaborate with the product development team in product filing
  • Assistance with logics for system development different products
  • Provide Support in a wide range of potential exercises relating to: analyzing the results and performance of products, reinsurance tenders, product development and other actuarial work.
  • Assist Fraud Investigation Team with logics to develop or improvise fraud detection models
  • Provide logics to MIS to ensure various stakeholders (UW/ claims/ marketing/product) get the reports they require
  • Analyse IIB data prepare reports and share it with Management/ various stakeholders

Mandatory Skills

  • Familiarity with spreadsheets, databases, statistical analysis programs e.g. SAS, and programming languages e.g. Python/R
  • Strong analytical and problem-solving skills

Desirable Skills

  • Minimum 2-3 years of experience in the actuarial team

Education/Qualification

  • Minimum qualification required- Bachelors/Masters in Statistics/Commerce/Mathematics and
  • 4-6 Actuarial Exams with Institute of Actuaries of India/Institute and Faculty of Actuaries, UK

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