AVP - Head Pricing - Insurance

Designation : Assistant Vice President - Head Pricing

Location :Gurgaon

JOB SUMMARY:

Product Ideation and Design

- Collaborate in the design of new Products along with other stakeholders and play a pivotal role in product development lifecycle starting from ideation, pricing, internal and regulatory approval

- Strike a right balance between commercial considerations and risk management while recommending product designs

- Together with the product manager, provide designs which are feasible to administer within the MNYL framework

- Adherence to the product launch calendar and supporting the organization through changes

Product Pricing

- Provide main technical inputs and ensure robustness of pricing models and Illustrations

- Ability to create and review excel models for pricing and profit testing

- Ability to provide insightful summary of the results of various iteration and sensitivities done during pricing

- Sharper analysis on various product design aspects in the Pricing Report

- Review and sign off on all the pricing related work before review by senior actuaries

Product Approval

- Prepare the pricing report and facilitate approval from internal product approval committee and the Appointed Actuary

- Prepare the ‘File and Use’ document and help in Regulatory approval

Policy Administration System and Benefit Illustrations

- Be overall responsible for all actuarial inputs for setting up new products in Policy Administration system and Benefit Illustration system

- Enable rigorous UATs through comprehensive test cases and provide sign offs

People

- Mentor junior actuaries towards actuarial qualification

- High engagement level of the team and drive up the Gallup survey scores of the department

- Low attrition of high performers and adequate succession planning at all levels

OTHER RESPONSIBILITIES:

- Liaise with other members within Product management Group and accomplish other projects that are assigned from time to time

- Learn and grow by interacting with other parts of the organization like distribution, training, marketing, investments, underwriting and legal and making effective working relationships

MINIMUM EDUCATION:

- A Qualified Actuary from a reputed institute is desired for the role.

MINIMUM/SPECIFIC EXPERIENCE:

- Minimum 5 years of experience in Life Insurance industry or actuarial consulting

- Work experience in Product Pricing would be an added advantage though not essential

- Knowledge of Actuarial software ‘Prophet’ or any other software would be an added advantage though not essential

- Awareness of competitive landscape in the Indian Life Insurance market and IRDA regulations would be an added advantage

Responses to be sent to manjula.nair@maxnewyorklife.com

Nidhi Mehta
Human Resource
Max New York Life Insurance Co. Ltd.