AVP – Actuarial – Individual Pricing

ZabarHR; Mumbai; On-site; INR 1,500,000 - 2,100,000; Full time

Job summary

A prominent life insurance provider seeks an experienced AVP – Individual Pricing (Actuarial) in Mumbai. The role requires extensive knowledge of IRDAI regulations, strong actuarial skills, and experience in product pricing. Ideal candidates will have 3+ years in life insurance and 10 cleared actuarial papers, along with strong communication and strategic thinking abilities. This position provides an opportunity to drive product development in a dynamic environment.

Qualifications

• Minimum 10 Actuarial papers cleared.
• 3+ years of experience in life insurance with at least 1+ years in Actuarial pricing.
• Possess strong understanding of actuarial principles and product design.

Responsibilities

• Ensure completion of tasks on time accurately and with desired standards.
• Strengthen the process of product pricing with necessary documentation.
• Support in education of stakeholders on dynamics of insurance pricing.

Skills

Understanding of IRDAI regulation

Actuarial principles

Strategic thinking

Verbal and written communication

Interpersonal skills

Education

Minimum 10 Actuarial papers cleared

Tools

Life Asia

GroupAsia

Job description

Client: Leading Life Insurance Company

Location: Mumbai – Goregaon East

Designation: AVP – Individual Pricing (Actuarial)

Key Responsibilities:

• Sound knowledge of IRDAI regulation and other professional standards.
• Work collaboratively with other departments and external stakeholders to ensure that the products designed are commercially sound meeting the company’s profitability and risk profile criteria.
• Strengthen the process of product pricing by ensuring the necessary documentation and audit trails.
• Ensure completion of tasks on time accurately and with desired standards.
• Ensure adequate support is provided to cross functional projects.
• Ensure that the accurate report/analysis is prepared within agreed time.
• Support in education of stakeholders on dynamics of insurance pricing/capital management.
• Ensuring competitiveness of the product basket, good returns to customers and attractive incentive structure for distributors.
• Ability to work in complex cash flows models and undertake numerical analysis and report generation using a range of system and actuarial tools.
• Ability to understand the Actuarial calculations and respond to the technical queries raised by other teams.
• Assist in preparation of documentation for filing of the product. Ensure the compliance of extant IRDAI regulation.
• Ability to work on different calculators required for system development and other processes.
• Should have good knowledge about the regulatory BAP system.
• Able to work in fast pace continuously evolving environment and ready to take up uphill challenges.
• Good understanding about the Life Insurance administrative system (Life Asia & GroupAsia).
• Proactively work with other teams to ensure the timely submission of products and other requirements.

Desired Candidate:

• Minimum 10 Actuarial papers cleared.
• Possess strong understanding of actuarial principles and product design.
• 3+ years of experience in life insurance with at least 1+ years of experience in Actuarial pricing.
• Possess strategic thinking, able to understand the implication of financial data and risk involved.
• Possess strong verbal and written communication and interpersonal skills.