Niva Bupa - Assistant Manager - Actuarial

- Niva Bupa Health Insurance is seeking a highly motivated and skilled Senior Actuarial Analyst to join our dynamic team.

- This individual will play a key role in driving our pricing, reserving, and data analytics functions to support the development and improvement of our health insurance products.

- As a Senior Actuarial Analyst, you will be responsible for leveraging actuarial methodologies, advanced analytics, and business insights to deliver actionable solutions and strategic recommendations

Key Responsibilities

- Pricing: Develop and enhance pricing models for health insurance products, ensuring they are competitive, profitable, and compliant with regulatory requirements.

- Use a combination of historical data, market trends, and predictive models to assess risk and set appropriate pricing strategies

- Reserving: Analyze and assess reserve requirements for health insurance claims, using actuarial techniques to estimate liabilities accurately.

- Ensure that reserves are established according to industry standards and company policies, and contribute to quarterly and annual reserving processes

- Data Analytics: Utilize data analytics tools and techniques to analyze large datasets, identify trends, and provide insights into business performance.

- Collaborate with data scientists and IT teams to enhance data models and improve data quality for actuarial purposes

- Financial Reporting: Prepare and deliver reports that support decision-making in pricing, reserving, and strategic business planning.

- Present complex actuarial findings in a clear and actionable manner for senior management and other stakeholders

- Risk Management: Provide insights and recommendations to the management team on risk management strategies, helping to optimize the company's risk profile

- Collaboration: Work closely with cross-functional teams including underwriting, claims, finance, and product development to ensure alignment between actuarial assumptions and business strategies

- Regulatory Compliance: Stay updated on the latest industry regulations and ensure that all actuarial models, reports, and methodologies comply with relevant legal and regulatory requirements

- Mentoring and Leadership: Mentor junior actuarial analysts and assist in their professional development. Take a leadership role in specific projects and initiatives within the actuarial team.. Required Skills &

- Qualifications: A Master's/Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.. Fellowship or Associate level qualification from a recognized actuarial body (e.g., Institute of Actuaries, Society of Actuaries)

- At least 5-7 years of experience in actuarial work within the insurance industry, preferably in health insurance or a related field. Strong expertise in pricing and reserving techniques, including experience with stochastic modeling, loss development factors, and risk management. Proficiency in actuarial software (e.g., Prophet, R, SAS) and strong knowledge of Excel