Job Purpose : Drive adherence to all regulatory requirements pertaining to reserving and ensuring correct reserves/numbers to be signed off by the appointed actuary, all reports related to actuarial submissions including reserve report and financial condition report to be submitted within timelines and all queries raised by the regulator are duly addressed. Role & Responsibility : Financial Condition Reporting and Other Actuarial Submissions - Review and monitor data/ risk parameters/ other metrics of various other functions in BAGIC (Investments, Risk Management, Underwriting and Finance) to obtain inputs on the financial condition of BAGIC - Lead team in conducting quantitative analysis of the data to be used for preparing regulator mandated report on financial health of the company - Guide team during preparation of reports on financial condition of the company, review - Preparing Asset Liability Matching Report on quarterly basis to ensure investment activities and asset positions are appropriate to the liability, risk profile and solvency of insurer and get approval from Appointed Actuary , CFO and CEO. - Compute Economic Capital of the company and monitor movement from previous year and identify reasons for movement and submit the report to regulator - Provide technical guidance to the team in giving structures for data gathering and conducting pricing analysis (ranging from simple excel based to complex regression model based) and seek inputs from Underwriting team to arrive at pricing points - Recommend to Appointed Actuary the final pricing of new products and revision or withdrawal of pricing of existing products with respect to health/travel LOB, and file with regulator to seek their approval - Recommend inclusions/exclusions and other policy condition basis experience while framing new or revised products - Monitor market for unprofitable segments, current prices, products and prepare competitive analysis reports to guide underwriting team on pricing, discounting and go to markets - Deploy sophisticated analytics principles and use of statistical software in day to day work Business insights - Provide levers to underwriters for pricing by providing insights on risks - Work closely with the product development team on policy wordings and features - Advisory to underwriting to take a final call on pricing in some complex/critical proposals/group quotes of high value - Interact with internal customers and influence key stakeholders at BAGIC to seek buy in - Understand requirements raised by various teams (e.g. sales, underwriting, finance etc.), guide team to conduct required analysis, drive maker-checker-review process by serving as the final reviewer - Present the analysis to relevant internal stakeholders, address queries and determine way-forward, as required and Provide detailed performance reports when required - Liaise with regulator for product filing as and when required Reinsurance - For product's backed by reinsurer, Assess the reinsurer's pricing and terms and conditions of the product and point out areas of concern and provide inputs in ensuring that the product is as best as possible for BAGIC - Liaise with external stakeholders (Regulator, Reinsurers, etc.) in areas relating to product pricing and other relevant areas Claims Analysis and Adhoc Requirements - Lead conduct of Reserve Committee meetings (conducted quarterly) and submit summary of reserves, address queries raised by Business Heads, present analysis (e.g. claims, loss ratio, portfolio) and aid in business decision making - Understand requirements raised by various teams (e.g. sales, underwriting, finance etc.), guide team to conduct required analysis, drive maker-checker-review process by serving as the final reviewer - Present the analysis to relevant internal stakeholders, address queries and determine way-forward, as required Qualifications : - Minimum qualification required- Graduation with sound actuarial knowledge Work Experience - Minimum 8+ years of experience as an actuary in a leading company - Knowledge of Indian general insurance industry

Pune

Bajaj Allianz - Vertical Head - Actuarial 

Bajaj Allianz - Vertical Head - Actuarial  ,Job Description for Bajaj Allianz - Vertical Head - Actuarial  in Bajaj Allianz General Insurance Co. Ltd. in  Pune for (7-15) years of experience. Apply Now!

Job Description for Bajaj Allianz - Vertical Head - Actuarial  in Bajaj Allianz General Insurance Co. Ltd. in  Pune for (7-15) years of experience. Apply Now!