Manager Actuarial

Gurgaon, Haryana
Permanent
Full-time

2 months ago

We are seeking a highly motivated and experienced Senior Actuarial Analyst to join our dynamic Pricing team. The successful candidate will play a crucial role in the development, implementation, and monitoring of pricing strategies for our health insurance products. This role requires strong analytical skills, a deep understanding of actuarial principles, and the ability to translate complex data into actionable insights. You will contribute significantly to ensuring the profitability and competitiveness product portfolio.Key Responsibilities:

Pricing Analysis & Modelling:

Develop and maintain sophisticated pricing models for new and existing health insurance products, including retail, group, and innovative offerings.
Conduct in-depth analysis of claims data, underwriting experience, and market trends to inform pricing assumptions and strategies.
Perform experience analysis and recommend appropriate adjustments to pricing parameters.
Utilize actuarial software and statistical tools for data analysis and modelling (e.g, SAS, Databricks R, Python, SQL, Excel/VBA).
Product Development Support:

Collaborate closely with the product development, underwriting, and sales teams to provide actuarial insights and support the design of new and revised products.
Assess the financial viability and risk profile of new product propositions.
Assist in the preparation of regulatory filings related to product pricing.
Performance Monitoring & Reporting:

Monitor the profitability and performance of various products and segments, identifying areas for improvement or intervention.
Prepare and present regular reports on pricing adequacy, claims experience, and market competitiveness to senior management.
Analyze the impact of pricing decisions on business objectives.
Market Research & Competitor Analysis:

Stay updated with industry trends, regulatory changes, and competitor pricing strategies.
Conduct competitor analysis to ensure Niva Bupa's products remain competitive and financially sound.
Process Improvement & Innovation:

Contribute to the continuous improvement of pricing processes, tools, and methodologies.
Explore and implement innovative actuarial techniques to enhance pricing accuracy and efficiency.
Mentorship & Collaboration:

Provide guidance and support to junior analysts within the team.
Collaborate effectively with other departments, including underwriting, claims, finance, and IT.

Qualifications & Experience:

Education: Bachelor's or Master's degree in Actuarial Science, Statistics, Mathematics, Economics, or a related quantitative field.
Actuarial Exams: Candidate should have cleared minimum 5 Actuarial Exams with significant progress towards an internationally recognized actuarial qualification (e.g., IAI, IFoA, SOA).
Experience: Minimum of 5+ years of relevant experience in actuarial pricing, in the Indian health insurance market is highly desirable.

Skills & Competencies:

Technical Skills:

Strong understanding of actuarial pricing principles and techniques specific to health insurance.
Proficiency in statistical tools (e.g., SAS, Databricks, R, Python).
Advanced skills in MS Excel, VBA, and SQL.
Analytical & Problem-Solving Skills:

Excellent analytical and quantitative skills with a strong attention to detail.
Ability to analyze complex data, identify trends, and draw meaningful conclusions.
Strong problem-solving abilities and a proactive approach to finding solutions.
Communication & Interpersonal Skills:

Excellent written and verbal communication skills.
Ability to explain complex actuarial concepts to non-technical audiences.
Strong presentation skills.
Ability to work effectively both independently and as part of a team.
Other Attributes:

Strong business acumen and understanding of the health insurance industry.
Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
Proactive, self-motivated, and eager to learn.

Mancraft Consulting

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