Assistant Manager – P&C Product PricingInsurance

VRSamadhan; Mumbai; On-site; INR 800,000 - 1,200,000; Full time

Job summary

A leading insurance firm in Mumbai is seeking an Assistant Manager to handle pricing for general insurance products. This role requires at least 6 cleared actuarial exams and 3–5 years of relevant experience. The ideal candidate should have expertise in statistical tools like EMBLEM and R, along with strong analytical skills. Responsibilities include developing pricing models, collaborating across teams, and conducting profit analyses. Competitive CTC up to ₹12 LPA offered.

Qualifications

• Minimum of 6 actuarial exams cleared.
• 3–5 years of experience in general insurance or actuarial consulting.
• Proficiency in statistical tools like EMBLEM, R, SAS, SQL Server.

Responsibilities

• Propose and develop pricing structures for retail P&C insurance products.
• Collaborate in product development with stakeholders.
• Build and maintain pricing models using Excel, EMBLEM, etc.
• Conduct profit testing and sensitivity analysis.
• Prepare documentation including pricing reports.

Skills

Analytical skills

Problem-solving ability

Attention to detail

Communication skills

Insurance pricing expertise

Data analytics

Education

Passed 6 actuarial exams

Tools

EMBLEM

R

SAS

SQL Server

Job description

Assistant Manager – P&C Product Pricing

Position Title: Assistant Manager – P&C Product Pricing

Designation Level: M2/M3/M4 (Assistant Manager / Deputy Manager / Manager)

Location: Mumbai

Function: Actuarial – P&C Product Pricing

CTC: Up to ₹12 LPA

Preferred Industry: General Insurance

Overview

This role involves end-to-end pricing of general insurance products using statistical techniques, supporting product design and development, and ensuring regulatory compliance. The candidate will play a key part in creating, refining, and maintaining robust pricing models, while collaborating across functions to deliver actuarially sound products.

Responsibilities

• Propose and develop pricing/rating structures for retail P&C insurance products using techniques such as Generalized Linear Models (GLM).
• Collaborate in the development and enhancement of new products with stakeholders from product, underwriting, and actuarial teams.
• Build and maintain pricing models using Excel, EMBLEM, and other relevant platforms.
• Ensure pricing models are technically sound and well-documented, with clear assumptions and validations.
• Conduct profit testing and sensitivity analysis, summarizing insights for decision-makers.
• Prepare documentation including pricing reports, F&U notes, and IRDA filing support.
• Review and finalize assumptions for pricing models and obtain internal sign-offs.
• Drive technical pricing dashboards and support data analytics initiatives.
• Maintain high standards of model accuracy, auditability, and compliance.
• Take ownership of pricing outputs before further review and regulatory submission.

Required Qualifications & Experience

• Minimum of 6 Actuarial exams cleared.
• 3–5 years of experience in general insurance or actuarial consulting, preferably in motor or health product pricing.
• Proficiency in statistical tools like EMBLEM, R, SAS, SQL Server is preferred.
• Understanding of the Indian general insurance market and regulatory environment is a plus.

Key Skills & Competencies

• Strong analytical and problem-solving ability
• Detail-oriented with a focus on accuracy and compliance
• Innovative mindset with a flair for improving technical pricing frameworks
• Strong verbal and written communication skills
• Ability to work independently and manage multiple priorities
• Technical expertise in insurance pricing and data analytics