#37 Bajaj Allianz General Insurance Hiring – Manager Actuarial
Bajaj Allianz General Insurance
Full-Time
Posted 8 months ago
Product Pricing and filing
- Gathers data from various stakeholders and analyzes historical data/ risk parameters/ expected loss cost / loss ratio calculations/other metrics to assist in pricing of various products so as to maintain desired profitability for BAGIC
- Responsible for analyzing inputs and deriving the pricing for tenders floated under government schemes
- Responsible for analyzing inputs and deriving the pricing for retail products/large business quotes
- Providing inputs on new (including revisions) product design and structure
- Collaborating with concerned stakeholders such as underwriters, marketing, product development etc. with regards to the pricing and filing the same with IRDA.
- Prepare technical documents related to pricing
- Review all documents being signed by Appointed Actuary and then filed with IRDAI for accuracy and consistency.
Portfolio Monitoring and Analysis
- Analyze existing retail portfolio performance on key factors by creating KPI reports for the same
- Creating specific reports as an when required by other stakeholders – UW/ Marketing/claims
- Provide support w.r.t. profitability review, projections of experience and renewal decision
Analysis And Adhoc Requirements
- Uses market data to carry out competitor analysis, trend analysis, and price benchmarking
- Assist in the development of pricing/distribution tactics that maximize profitability for target volumes
- Collaborate with the product development team in product filing
- Assistance with logics for system development different products
- Provide Support in a wide range of potential exercises relating to: analyzing the results and performance of products, reinsurance tenders, product development and other actuarial work.
- Assist Fraud Investigation Team with logics to develop or improvise fraud detection models
- Provide logics to MIS to ensure various stakeholders (UW/ claims/ marketing/product) get the reports they require
- Analyse IIB data prepare reports and share it with Management/ various stakeholders
Mandatory Skills
- Familiarity with spreadsheets, databases, statistical analysis programs e.g. SAS, and programming languages e.g. Python/R
- Strong analytical and problem-solving skills
Desirable Skills
- Minimum 2-3 years of experience in the actuarial team
Education/Qualification
- Minimum qualification required- Bachelors/Masters in Statistics/Commerce/Mathematics and
- 4-6 Actuarial Exams with Institute of Actuaries of India/Institute and Faculty of Actuaries, UK