Lead - Pricing & Risk Assessment - Insurance

- To be responsible for competitive product pricing and IRDAI filing.

- To interact with various stakeholders in setting up the processes for new/modified products in the system and developing necessary tools for the system based on the requirements.

Key Responsibilities :

Responsibilities :

- To develop pricing model and cash flow based on the product requirements.

- To perform sensitivity and scenario testing.

- To prepare File & Use document for IRDA filing.

- To prepare the query response under product filings for IRDAI.

- To provide necessary support to IT team for setting new product/modification of existing products and features in the system and developing calculators for the system as and when required.

- To test the implementation of products in SIS and Ingenium.

- To perform Risk Assessment & Pricing

- To oversee the procedure of Product Filing

Specific Authorities (Financial & Non- Financial) Not applicable

CX/NPSQ/Ver 1.0/1 st Feb 2020

Key Performance Indicators

Regulatory compliance = 100% -

Accuracy = 100% (0 errors)

Job Requirements:

Qualifications Should be a graduate and must have cleared minimum 7-8 actuarial papers.

Experience - 5-6 years of relevant experience

Functional Competencies:

- Risk Assessment

- Actuarial Technical Expertise

- Modelling Tools

- Regulatory knowledge

Behavioral Competencies "

- Business Acumen

- Growth through differentiation definition

- Building talent and teams definition

- Customer centricity

Key Interactions:

Internal Nature or purpose of interaction

Corporate planning team

Inputs and requirements for business planning work. Finance team

Inputs and requirements for business planning work.

Tokio marine (JV) - Meeting the requirements of TM and communication of key outputs of business planning as required.

Actuarial - valuation

Reserving and valuation related information

Actuarial - Modelling

Input and requirements for setting up pricing model

Actuarial - EV and

Experience:

Inputs and requirements for setting up pricing assumptions

Products - Inputs and requirements for new/modified products and

Review of documents

IT and BSG - Review requirements and developments related to system

CX/NPSQ/Ver 1.0/1 st Feb 2020

Internal set-up for products

Legal and Compliance - Input and requirements for Policy Documents and Various communications to IRDAI

Underwriting - Review and Requirements for setting up Board Approved Underwriting Policy

Claims :

Review of calculations for high ticket and complex claims

Operations - Input and Requirements for various operational issues related to new/modified products

External Nature or purpose of interaction

IRDAI

- Corresponding for Product Filing and approval.

- Reinsurer - Negotiating and finalizing reinsurance arrangements for new as well as existing products.

Peers in other companies

- New development in insurance and actuarial field

Experience - 5+ Years