Senior Manager

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

Job summary

ICICI Lombard invites applications for a role focused on risk assessment and technical underwriting for group corporate profiles, including OPD product structuring and pricing strategies. The position emphasizes portfolio management, loss ratio tracking, and renewal analysis to refine pricing and coverage terms.

You'll collaborate with sales, broking, wellness and network teams to ensure OPD cashless facilities align with underwritten risk, while ensuring filings comply with IRDAI guidelines and

Responsibilities

• Risk assessment and technical underwriting for corporate profiles, OPD product structuring, and pricing strategies.
• Portfolio management including loss ratio monitoring and renewal analysis to adjust pricing/coverage.
• Stakeholder collaboration with sales, broking, wellness and network teams to ensure alignment of OPD cashless facilities with risk.
• Compliance and process excellence with accurate filing and adherence to IRDAI guidelines and internal benchmarks.

Job description

Role & responsibilities

1. 1. Risk Assessment & Technical Underwriting
   • Evaluate Group Profiles: Analyse corporate demographics, past claim experience (if available), and industry-specific health risks.
   • OPD Product Structuring: Design and customize OPD sub-limits (e.g., capping pharmacy vs. dental vs. diagnostics) based on client requirements and budget.
   • Pricing Strategy: Utilize actuarial inputs and burning cost models to determine sustainable premiums for high-frequency outpatient benefits.
2. 2. Portfolio Management
   • Loss Ratio Monitoring: Regularly track the performance of the OPD portfolio to identify accounts with high "leakage" or over-utilization.
   • Renewal Analysis: Lead the underwriting for policy renewals, recommending adjustments in pricing or coverage terms based on historical data.
3. 3. Stakeholder Collaboration
   • Sales Enablement: Support the sales and broking teams by providing technical justifications for quotes and participating in high-value client meetings.
   • Network Coordination: Work with the Wellness and Network teams to ensure that OPD cashless facilities align with the underwritten risk.
4. 4. Compliance & Process Excellence
   • Filing & Documentation: Ensure all customized corporate quotes adhere to IRDAI guidelines and internal Product Filing (GTC) benchmarks.

Key Performance Indicators (KPIs)

1. Loss Ratio (LR) and GWP influx: Maintaining targeted GWP influx and maintaining the OPD portfolio LR within the budgeted threshold.
2. Quote TAT: Delivering technical quotes within the defined internal Service Level Agreements (SLAs).
3. Retention Ratio: Percentage of profitable corporate accounts successfully renewed.
4. Compliance: Zero deviations from the internal Underwriting Authority Matrix.

Preferred candidate profile