Operation Manager at Future Track Edutech Pvt. Ltd.
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Senior Manager - Actuarial - Insurance (7-10 yrs)
Roles and responsibilities :
- Generating ideas/designing/pricing the individual and group products across all lines of business in Health vertical and assist in launching the product as per the agreed product calendar.
- Active contribution in leading the development of product pricing especially in Property, Motor, Liability lines of business, etc. including internal peer review.
- Liaise with external stakeholders (Regulator, Reinsurers, etc.) in areas relating to product pricing and other relevant areas.
- Active contribution in leading the development of product pricing for Other than Health Products including Property, Motor, Liability lines of business, etc. including internal peer review.
- Help devise control measures and monitor the same continuously in relation to performance of the products and pricing related matters.
- Set up models and perform actuarial valuation of liabilities including Incurred but Not Reported Liabilities (IBNR), Incurred but not enough reported (IBNER), Premium Deficiency Reserves (PDR), Unexpired Premium Reserves (UPR), etc. for all lines of business.
- Prepare and submit to the Appointed Actuary key statutory documents like the IBNR Report, Financial Condition Report, ALM and Economic Capital Report
- Assist the Appointed Actuary in fulfilling his Board related tasks especially with respect to the Product Management Committee, Risk Management Committee, Investment Committee, Policyholder Protection Committee and such other committees/ sub-committees that may be formed.
- Ensure compliance with all relevant IRDA regulations and actuarial practice standards for statutory reporting.
- To facilitate an environment of continuous improvement in the quality of actuarial modelling using appropriate tools and documentation.
- Implementing global best practices in actuarial functioning in general.
Essential Competencies :
- Strong Knowledge of various Pricing Techniques used in Health Insurance and General Insurance.
- Knowledge of pricing tools is preferable.
- UW expertise/ experience, if any, will be an added advantage.
- Good modelling skills and ability to present the modelling results to Senior audience.
- Good understanding of product structures and risk management techniques for General Insurance products especially Health insurance products.
- Ability in work well in multi-function teams.
- Self-starter and enthusiastic individual with a flair of adopting emerging trend, ability to interact with internal Customers and influence key stakeholders in the system.
Professional Experience & Qualification :
- Industry experience of Min. 7-10 years in the General Insurance