Manager - Actuarial Pricing (Group)

Bandhan Life; Mumbai; Hybrid; INR 1,200,000 - 2,300,000; Full time

Job summary

Bandhan Life is seeking a permanent actuarial pricing professional for the Group Pricing team. The role focuses on generating quotations for group credit life, MFI, and group term products while ensuring profitability and regulatory compliance.

You will handle cross-department scheme queries, develop pricing calculators, monitor profitability trends, and manage reinsurer relationships, building MIS dashboards for decision support.

Qualifications

• Graduate/post-graduate
• 4-6 years of work experience in the Actuarial team (Group pricing preferably) of a life insurance company
• 3 to 5 Actuarial papers (preferred but not mandatory)
• Sound understanding of various life insurance products.
• Good knowledge of Regulatory environment (IRDAI/IAI)
• Strong analytical, communication, and stakeholder management skills.

Responsibilities

• Overseeing and generating quotation for Group Credit Life, MFI, Group Term Products ensuring profitability, competitiveness, and compliance with internal guidelines.
• Handling scheme related queries from Business, Products, Underwriting and other departments.
• Develop calculators to support scheme set up
• Monitor portfolio mix, claims experience, and profitability trends, and provide actionable insights to management
• Negotiate and evaluate reinsurance quotes and maintain relationships with reinsurers
• Develop, automate, and maintain pricing and portfolio MIS dashboards to support management decision-making.
• Prepare profitability statements to assess product/scheme performance.
• Manage and train team to ensure timely delivery of tasks and projects

Skills

Analytical skills

Stakeholder management

Communication skills

Team leadership

Education

Actuarial papers (3-5)

Job description

Role Details:

Department: Actuarial Pricing (Group)

Employment Type: Permanent

Key Focus areas:

• Overseeing and Generating Quotation for Group Credit Life, MFI, Group Term Products ensuring profitability, competitiveness, and compliance with internal guidelines.
• Handling scheme related queries from Business, Products, Underwriting and other departments.
• Develop calculators to support scheme set up
• Monitor portfolio mix, claims experience, and profitability trends, and provide actionable insights to management
• Negotiate and evaluate reinsurance quotes and maintain relationships with reinsurers
• Develop, automate, and maintain pricing and portfolio MIS dashboards to support management decision-making.
• Prepare profitability statements to assess product/scheme performance.
• Manage and train team to ensure timely delivery of tasks and projects

Qualifications & Competencies:

• Graduate/post-graduate
• 4-6 years of work experience in the Actuarial team (Group pricing preferably) of a life insurance company
• 3 to 5 Actuarial papers (preferred but not mandatory)
• Sound understanding of various life insurance products.
• Good knowledge of Regulatory environment (IRDAI/IAI)
• Strong analytical, communication, and stakeholder management skills.