Description

Location:Mumbai, MH, IN

Actuarial Analyst - L&H India

Position Actuarial Analyst

Level Associate

Location Mumbai, India

Reporting to Senior Pricing Actuary

Objective of Role

The role will be part of the L&H India pricing team taking responsibility for product development and pricing of new Life & Health business to help the region achieve its growth plans. We aim to do this through better client experience; cutting-edge, better-informed pricing; and supporting development of innovative products for clients in the region.

The role involves supporting development of new products and the pricing of the business written in accordance with our technical guidelines.

Major Responsibilities

1. New Business Quotes and Tenders

• Lead and support the pricing and modelling of new business; this includes the review on quotes prepared by other team members and authority to sign-off.
• Partner with client-facing teams to understand cedants' objectives, structures, and risk profiles, and translate these into appropriate pricing solutions.
• Collaborate with a cross-functional team of experts from client markets, underwriting and claims towards assessing the risks associated with a particular opportunity.

1. Costing Methodology and Guidelines

• Ensure consistent and robust application of pricing methodologies and governance standards across all transactions.
• Proactively challenge existing pricing approaches and drive simplification, automation, and improvement of tools and processes.
• Monitor market, regulatory, and competitive developments and assess their impact on pricing assumptions and reinsurance structures.
• Collaborate with Experience Studies teams to analyze claims, lapse, and portfolio experience, and incorporate insights into pricing and assumption setting.
• Maintain and enhance pricing guidelines, documentation, and governance frameworks based on research and emerging experience

1. Strategy, Product Development and Brand Presence

• Contribute to technical, research and project management input for product development initiatives.
• Assist in assessing the impact of regulatory, market, and industry developments on pricing and product structures, particularly within India and the region.

1. Collaboration
   • Work closely with senior actuaries and cross-functional teams, contributing to regional and global projects as appropriate.
   • Contribute to regional and cross-border projects, collaborating with global teams and sharing best practices

Qualifications & Requirements

• Minimum 7 exam credits (under a recognized actuarial body - SOA/CAS/IFOA/IAI/FOA/FIA) with a bachelor's degree in actuarial science, Mathematics, Statistics, Economics or equivalent.
• 4-5 years of relevant experience in Life & Health insurance or reinsurance (including consulting), with strong hands-on pricing experience; exposure to reinsurance pricing and the Indian market is highly desirable.
• Experience in life insurance pricing will be preferred.
• Solid technical and commercial expertise in Life & Health product pricing and reinsurance structures.
• Strong analytical skills with proficiency in R, SAS, Python, or similar actuarial and statistical tools.
• Proven ability to engage effectively with both internal and external stakeholders, including senior management and clients.
• Experience in developing, enhancing, or maintaining pricing tools and models is an advantage.
• Excellent written and verbal communication skills in English

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