Actuarial Role – Life Insurance

Serving Skill; Mumbai; On-site; INR 600,000 - 1,200,000; Full time

Job summary

A leading insurance firm in Mumbai is seeking an actuarial professional to assess profitability for credit life schemes and issue quotes for related products. The ideal candidate should hold a Graduate/Post Graduate degree in statistics, commerce, or science, along with a minimum of 3 years of experience. Strong analytical skills and proficiency in MS Excel are essential. This role offers the opportunity to develop and design new products while modifying existing offerings.

Qualifications

• Graduate/Post Graduate with minimum 5 actuarial papers cleared.
• 3 years of work experience in related fields.
• Candidate pursuing actuarial exams preferred.

Responsibilities

• Assess profitability of credit life schemes.
• Issue quotes for credit life/group health/affinity schemes.
• Identify loss making schemes for potential re-pricing.
• Identifying loss making schemes for potential re-pricing, developing and designing new life insurance/health insurance products.
• Supervision of pricing for group insurance schemes for Group & Individual Credit Life schemes

Skills

Actuarial Technical Expertise

Modelling Tools

Regulatory Knowledge

Risk Assessment

MS Excel proficiency

Communication and Negotiation

Analytically strong

Education

Graduate/Post Graduate in statistics/commerce/science

Actuarial papers cleared (minimum 5)

Job description

Overview

Actuarial – Life Insurance

Qualifications

• Graduate/Post Graduate with minimum 5 actuarial papers cleared

Functional Competencies

• Actuarial Technical Expertise
• Modelling Tools
• Regulatory Knowledge
• Risk Assessment

Behavioral Competencies

• Business Acumen
• Growth through Differentiation Definition
• Customer centricity
• Building Talent and Teams Definition

Required Qualification and Skills

• Educational Qualifications: Graduate/ Post Graduate in statistics/ commerce/ science
• Work Experience: 3 years +
• Certifications: Candidate pursuing actuarial exams preferred, though not must.
• Ideally, the candidate should have prior experience in Credit Life Quotations
• Other skill set: MS Excel proficiency
• Communication and Negotiation
• Analytically strong

The individual will be responsible for assessing profitability of credit life schemes. Issuing quotes for credit life/group health/affinity schemes. Identifying loss making schemes for potential re-pricing, developing and designing new life insurance/health insurance products, modifying existing products to meet business needs. Supervision of pricing for group insurance schemes for Group & Individual Credit Life schemes