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.